Nomou Programme - Support for Middle East entrepreneurs and SMEs

Support for entrepreneurs and SMEs in the Middle East

Investments & Impact

Nomou-MENA Investors
10

Investors/funders

Raised capital and grants towards funds
US$ 100m

Raised capital & grants towards funds

Nomou-MENA fund economic value added
US$ 198m

Economic value added p.a.

(Figures as at 31 December 2019)

Nurturing sustainable growing businesses

In 2012, GroFin, a specialist impact-driven financier for SMEs, and a UK-based charity, founded the Nomou programme through a restricted donation of US$50M. The objectives of the programme are to create sustainable employment, economic growth, and positive social impact through the nurturing and expansion of a sustainable small and medium-sized business sector in the Middle East and North Africa (MENA). This cooperation between GroFin and the UK-based charity is built on a 10-year strategic partnership which has resulted in a proven unique, portable, and scalable solution for the development of sustainable SMEs.

The Nomou programme is further funded by institutional investors and development organisations such as UKAID, as well as local and international Development Finance Institutions including KfWDutch Good Growth Fund (DGGF)NorfundAnthos Capital and AHL Charitable Foundation. GroFin is the co-promoter and implementing partner who manages the funds and provides business support to Nomou’s SME clients.

Nomou, meaning growth in Arabic, provides access to medium-term growth finance and value-adding Business Support to committed entrepreneurs in the region. Through these services, Nomou is increasing the capacity of the grossly underserved SGB sector, thus developing supply chains and helping to create much needed employment.

Middle East & North Africa

The Nomou Programme was established as a regional initiative in the Middle East and North Africa (MENA) and currently invests in Jordan, Egypt, Iraq, and Oman.

Nomou Jordan Fund Client

As the main driver of economic growth in Jordan, SMEs are also the main source of export earnings and value creation. Access to business loans is a challenge faced by Jordanian SMEs due to lack of reliable collateral, lack of reliable guarantors, lack of track record, lack of business management skills, high-interest rate, and lender’s requirements prior to SME loans, among others. SMEs and aspiring entrepreneurs thus have to often resort to the informal sector, family and friends for access to finance.

The success of the Nomou Jordan Fund (NJF) is founded in its integrated solution of providing both appropriate risk finance and value-adding business support to SMEs. The business support facility upholds the Fund’s mission by affording SMEs the hands-on support they need to access finance, increase their viability, and manage the numerous risks and challenges they face. The Fund’s support is aimed at maximising the success of SMEs and their socio-economic impact.

Abou Arab – Nomou Jordan Client

Nomou Programme Structure

Small & Medium Enterprises

Integrate Solutions for SMEs

Partner Institutions

Financial Institutions

Development Partners

Technical Assistance Providers

Local Corporates

Fund Manager

Capacity Building

Business Support Facility

Nomou Country Funds for SMEs

Nomou-MENA

Donors / Investors

Multinationals

Foundations

Private Investors

International Financial Institutions

Donors Agencies