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  • About Nomou-MENA
    • The Nomou Programme
    • Supporting Entrepreneurs
    • MENA Region
    • Why MENA?
    • Nomou Structure
    • Country Funds
    • The Nomou Team
  • Entrepreneurs
    • Nomou Funding & Business Support
    • How Nomou Works
    • Where Nomou Operates
    • Business Support from GroFin
  • Investors
    • Investors & Business Support Funders
    • Country Funds
    • Supporting Syrian Refugees
    • Impact at a glance
    • Development and Impact
    • Local Partners
  • Islamic Finance
    • About Islamic Finance
    • Islamic Finance at GroFin
    • FAQs
  • Apply for Finance

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Creating Sustainable Impact

 The Nomou programme aims to create sustainable employment, economic growth, and positive social impact in MENA.

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Invest in Positive Impact

The Nomou programme is an effective delivery model, able to provide targeted financial and impact returns to its investors and partners.

Supporting the growth of SMEs

Investors & Business Support Funders

By delivering consistent and effective solutions to committed entrepreneurs in MENA, the Nomou Programme has attracted funding and support from several reputed investors.

The Nomou Funds for start-up and growth enterprises are open to development and impact orientated investors from the public and private sector such as development finance institutions, international financial institutions as well as private investors.

Currently, the Nomou Programme counts such reputed organisations among its investors such as the DFID, Norfund, KfW, DGGF, Anthos Capital and Lundin Foundation.

Nomou Impact Report

Nomou Impact Report 2017

The Nomou Funds

Country Funds

SMEs serviced through the Nomou programme are generally too large for microfinance, too small for private equity, and too risky for security-based lenders. These businesses require viability-based development and growth finance not offered by traditional banking solutions.

The MENA region represents a significant market in terms of size. From a political perspective, SMEs operating in the region may promote economic and social impact within their local communities, as well as the broader economy of their countries. The Nomou programme actively works to create partnerships and linkages between organisations and small and growing businesses to provide access to new markets, as well as to develop local content and supply chains.

The Nomou programme focuses on investing in and supporting existing and new businesses with the ability to:

  • Create sustainable employment;
  • Produce local content; and
  • Deliver socio-economic benefits.

  • Nomou Jordan

  • Nomou Egypt

  • Nomou Iraq

  • Nomou Oman

Fund Overview

In an effort to address the job creation and growth challenges faced by the economy by harnessing the potential of SGBs, the Nomou Jordan Fund was established in 2013 through an anchor commitment from a UK-based charity. The success of the Nomou Jordan Fund is founded in its integrated solution of providing both appropriate risk finance and value adding business support to SGBs.

The Fund prioritises governorate-based, women owned, employment-intensive and/or export oriented businesses to maximise its socio-economic impact. In addition, the Fund also focuses on businesses that either employ or are owned by refugees who depend on the Jordanian economy for their livelihood.

Impact, Performance & Way Forward

As at 2017, the Nomou Jordan Fund scaled its investment to assets under management of US$ 19.3M. The Fund invested in several sectors and in particular manufacturing, where we see the biggest opportunities as well as potential to create impact, especially in terms of employment. Besides, the Fund also has deals in several other sectors with high impact, such as healthcare and education. The schools funded under Nomou Jordan allow us to reach out to nearly a thousand students with quality and affordable education, especially at the primary level.

Going forward, the Fund is looking to further scale in 2018.  The Fund is showing concerted focus on helping Syrian and other refugee populations seeking asylum in Jordan, and is looking to finance and support more businesses led by refugees as well as those that employ a sizeable proportion of refugee workers.

Outcome & Impact

0
No. of SGBs
Invested In
0
No. of Entrepreneurs
Supported
0
% Female Employment
(Direct Jobs Sustained)
0
No. of Learners
Served per annum
0
No. of Patients
Served per annum
0
BoP Customers
Served per annum

% Exposure by Sector as at 31 December 2017

Nomou Jordan Fund 2017
*All figures are as at December 2017

Investors & Funders of the Nomou Jordan Fund

Implementing Partner

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Co-Funded By

GroFin - Nomou Jordan investors

Fund Overview

The GroFin SGB Fund was co-founded by GroFin and a UK-based charity in 2014, with operations in Egypt, to counter the issues faced by the economy in stimulating the growth of a private sector capable of creating jobs at scale. The Fund harnesses the potential of SGBs to support sustainable employment in the face of a rapidly growing population and a slow rate of job creation.

GroFin Egypt actively seeks SGBs with revenues ranging from EGP 2M – 100M in the greater Cairo area and exterior governorates and provides them with a solution of integrated continuous business support that includes entrepreneurial and management skills as well as access to a larger market for their goods and services.

Impact, Performance & Way Forward

In 2017 the country significantly scaled activities on the back of a full local investment team in place. The investment team has shown significant traction with the local market and scaled up the portfolio from US$ 1.66M to US$ 12.2M.

The Fund invested mainly in the manufacturing sector where we see the biggest opportunities, as well as potential to create impact through import substitution and local job creation. In addition, the Fund also forged ahead into the key services sector, with particular focus on recycling. 

Going forward, Egypt demonstrates strong potential to scale as part of the SGB Fund which is continuing its growth momentum across Africa. We recognise the significant opportunity in Egypt, especially after it has embarked on its ambitious economic reform plan, and we are currently studying venues to grow our offering in this exciting market.

Outcome & Impact

0
No. of SGBs
Invested In
0
No. of Entrepreneurs
Supported
0
% Unskilled /
Semi-skilled Labour
0
% Youth Owned
Businesses
0
BoP Customers Served per annum

% Exposure by Sector as at 31 December 2017

GroFin Egypt - SGB Fund
*All figures are as at December 2017

Investors & Funders of the Nomou Egypt Fund

Implementing Partner

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Co-Funded By

DGGF

Fund Overview

The Nomou Iraq Fund was established to facilitate the growth of the private sector as an engine of economic growth. The Fund is geared to helping SGBs in Iraq, with focus on SGBs based in Basra, to overcome the challenges posed by an unfavourable business environment with an integrated solution of access to finance, business skills and market linkages.

The Fund provides an opportunity for energy companies to support SGBs within their supply chain and also focuses on other potentially viable SGBs in oil and gas, power and utilities, water-related products and services, education, healthcare, hospitality and tourism.

Impact, Performance & Way Forward

2017 marked a significant scaling up of activities for the Fund on the back of a full local investment team in place, led by a competent Investment Executive recruited from Jordan. The Fund invested mainly in the manufacturing sector, where we see the biggest opportunities. All but one of the investments are performing in line with expectations and implementing their growth plans. This has enabled the Fund to post strong portfolio returns (>10% in US$).

After the defeat of ISIS towards the end of 2017, Iraq has witnessed renewed interest from the international investor community. This makes it a priority country in the region for Nomou funding and support, given the capacity to create impact at scale through supporting the rebuilding efforts centred in the southern region of Iraq, the focus geography of the Fund.

Outcome & Impact

0
No. of SGBs
Invested In
0
No. of Entrepreneurs
Supported
0
% Unskilled /
Semi-skilled Labour
0
% Start-Ups
0
BoP Customers Served per annum

% Exposure by Sector as at 31 December 2017

Nomou Iraq Fund 2017
*All figures are as at December 2017

Investors & Funders of the Nomou Iraq Fund

Implementing Partner

Logos-02

Fund Overview

This pressing need for local job creation was recognised by  a multinational group, in the particular context of encouraging a vibrant and sustainable SGB sector that is capable of creating employment at scale. In response and through the 2005 Gift to the Nation, the multinational group brought a proven integrated solution for SGBs to Oman, the Intilaqaah Fund.

In 2012, the Fund became part of the Nomou programme, coestablished by GroFin and a UK-based charity. The Nomou Oman Fund supports Omanisation through job creation in high impact sectors such as healthcare, education, manufacturing and food security enterprises. It focuses on SGBs that have the capacity to compete in the supply chain of large companies.

Impact, Performance & Way Forward

In 2017, our priority was to stabilise the Nomou Oman Fund and to look for ways to scale it. Keeping the austere environment in mind and adopting a pragmatic approach, the Fund disbursed almost US$ 0.5 million in 2017.

In view of the challenging macro-economic conditions due to protracted low oil prices, the office worked diligently with affected clients to extend hands-on business support. This has enabled the Fund to come close to its returns target of 9%, standing at 8% by the end of the year.

Overall, the Fund’s focus on Omanisation has seen us reach a level of 36%, in excess of the target of 35%, and well aligned with our thrust on local job creation. With a view to scale up the Fund, local funding sources are being explored, even as interest from the international investor community continues to be solicited.

Outcome & Impact

0
No. of SGBs
Invested In
0
No. of Entrepreneurs
Supported
0
% Unskilled /
Semi-skilled Labour
0
No. of Learners Served per annum
0
BoP Customers Served per annum
0
% Omanisation Rate

% Exposure by Sector as at 31 December 2017

Nomou Oman Fund 2017
*All figures are as at December 2017

Implementing Partner of the Nomou Oman Fund

Implementing Partner

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Nomou Jordan Refugee Support

Supporting Syrian Refugees

Jordan has witnessed a significant refugee influx over the last seven years. This has placed a huge strain on economic infrastructure, service delivery and employment avenues alike.

Representing a population of nearly 1.3 million, the vast majority of Syrians who fled to Jordan since war broke out in their country in 2011 live outside official refugee camps. Four out of five refugees live below the poverty line, many in dire conditions. And, as of 2017, there were approximately 297,000 Syrian men and women of working age in Jordan, out of over 660,000 refugees registered with the UN refugee agency.¹

For Syrian refugees relocating to Jordan, formal employment is the first and foremost means of ensuring a decent livelihood and eventual economic integration.

Support for Refugees

Since 2014, the Nomou Jordan Fund managed by GroFin has worked ceaselessly to promote the growth of SMEs in Jordan through a proven combination of appropriate finance and value-adding business support.

0
No of Direct Jobs
Sustained by Refugees
0
Refugee Livelihoods
Directly Supported
0
Refugee-owned Businesses
Receiving Investment &
Business Support

Nomou Programme Investment

Impact at a glance

*All figures are as at December 2017

Meeting SDG Objectives

Development and Impact

Regional unemployment in MENA is the highest in the world. This disproportionately affects young people and women. Tackling this challenge is critical to sustainable development and economic growth in the region. Nomou reports on a quadruple bottom line: measuring social, economic, environmental, and governance effects of the programme’s SME investments. Additionally, the Nomou funds reports on a range of added key impact metrics such as access to: healthcare; education; water; food security; and recycling.

Nomou recognises the central role the programme clients play in generating positive impact through their businesses. Therefore, impact reporting is based on the real attributable impact of the funds’ involvement with a client for the duration of the investment.

Over the next 10 years, Nomou seeks to invest in and support 600 start-ups as well as existing SMEs which will create more than 15,000 sustainable jobs, and improve an estimated 195,000 livelihoods in the MENA region.

Nomou Impact Development Framework

Nomou Impact Development Framework

Partnerships for SME growth

Local Partners

The Nomou programme develops partnerships with credible local trade groups, government ministries, development agencies, and large organisations with extensive supply chains and other local SME stakeholders to provide support and development assistance to small businesses seeking sustainable growth. Through these partners and managers, Nomou achieves its mission by providing best in class services focused on supplying access to finance and market linkages to start-ups as well as existing small and growing businesses. By increasing the capacity of entrepreneurs and their businesses, Nomou is developing supply chains and helping to create much-needed employment.

The in-country network of business associations, accountants, SME consultants, SME focused banks, non-bank financial institutions that offer complementary products and services, investment funds that focus on different segments of the market, government agencies, embassies, UN agencies, business networks, and other local SME stakeholders, further Nomou’s effort to provide comprehensive business support services to SMEs. By building a lasting relationship with these networks, Nomou is able to generate a steady flow of qualified entrepreneurs seeking our integrated support solution.

  • About Nomou-MENA
    • The Nomou Programme
    • Supporting Entrepreneurs
    • MENA Region
    • Why MENA?
    • Nomou Structure
    • Country Funds
    • The Nomou Team
  • Entrepreneurs
    • Nomou Funding & Business Support
    • How Nomou Works
    • Where Nomou Operates
    • Business Support from GroFin
  • Investors
    • Investors & Business Support Funders
    • Country Funds
    • Supporting Syrian Refugees
    • Impact at a glance
    • Development and Impact
    • Local Partners
  • Islamic Finance
    • About Islamic Finance
    • Islamic Finance at GroFin
    • FAQs
  • Apply for Finance
Copyright © 2018 GroFin Managers | Terms of Use | Privacy Policy
  • About Nomou-MENA
    • The Nomou Programme
    • Supporting Entrepreneurs
    • MENA Region
    • Why MENA?
    • Nomou Structure
    • Country Funds
    • The Nomou Team
  • Entrepreneurs
    • Nomou Funding & Business Support
    • How Nomou Works
    • Where Nomou Operates
    • Business Support from GroFin
  • Investors
    • Investors & Business Support Funders
    • Country Funds
    • Supporting Syrian Refugees
    • Impact at a glance
    • Development and Impact
    • Local Partners
  • Islamic Finance
    • About Islamic Finance
    • Islamic Finance at GroFin
    • FAQs
  • Apply for Finance
Nomou-MENA website