SC Ventures, the innovation of Standard Chartered, Fintech Investment and Ventures ARM, aims to replicate its successful SME construction strategy in India, Southast Asia and Africa to the CCG, and plans to implement an ambitious growth plan through a series of strategic links.
The main bank arm of the United Kingdom is preparing for a large expansion in the CCG region, with an aggressive strategy to take advantage of the estimated financing opportunities of the region, of approximately $ 200 billion, especially in the sector of small and medium -sized company (SME).
“SMEs are the backbone of the economy, and our goal is to equip them with all the necessary tools to grow and prosper, safely and profitable,” said Gautam Jain, a member of SC Ventures – Middle East, said Arab business In an exclusive interview.
The expansion, gradually planned, will see the launch of the main bank arms of the United Kingdom in the EAU and Saudi Arabia during the next 9-12 months, with the entry into other markets in the region in due time.
“It is assumed that the financial needs not met in GCC exceed $ 200 billion. This, together with low digital penetration, presents a significant opportunity to provide relevant support to SMEs and help the EAU realize the italization of their ambition for Smetht and growth,”
Co-crea and build the central model for the GCC strategy
The standard arm of Bank Chartered Bank (SCB) has already increased some high profile associations in the region with big names such as Visa, Lulu Financial Holdings and 7x, and is looking to attack more collaborations of this type to start in the Middle East market.
Jain said that the SC Venture model is to cook and build together with strategic partners who have a shared vision of unlocking the opportunity in the SME space when addressing their key pain points.
He intends to take advantage of his complementary strengths to address the problem and the opportunity, instead of trying to do it for ITELF, he said, adding that the company’s collaboration with related ideas, who are committed to a catalyst for growth.
“We bring to the table our experience in construction, expand global companies, including SME companies, in other markets, our vast network and geographical clients, and design focused on human being in cooking companies.
“Together with this with our deep experience in trade and supply chains, and associated finance, we believe that we are uniquely positioned in this space,” said SC Venture executive director.
He expressed the hope that in general, the company’s initiative will not only reduce barriers, but also accelerate innovation, making them fundamental for the economic diversification of the EAU.
As for the expansion plans in the region, Jain said that the company plans to launch in EAU and KSA during the next 9-12 months, and that it will have a gradual approach.
“We will adopt a strategy directed by the sector and evaluate other countries in the region progressively.
Expansion objectives that evolve the SME sector of the Middle East
“We have a similar experience in the construction of SME companies in India, Southeast Asia and Africa and we are sure that now bring this experience to [GCC] Region, “he said.
Jain said that the company has the hope of great growth potential in the region at a time when the SME sector in the Middle East is evolving, and companies go beyond traditional industries such as trade and construction.
“This change is promoted by technological advances and government support initiatives, allowing SMEs to explore new opportunities in sectors such as Fintech, electronic commerce and medical care.
“This trend is also part of a broader regional effort to diversify economies and reduce oil dependence, positioning the Middle East as a competitive player in a variety of industries,” he said, that the strategy of the scenes’s company is multitude and ambitious.
“The reconnecting of society with finance is what SC Ventures means. This synergy not only expands the client’s scope through borders, but also improves financial inclusion and operational efficiency for SME
The SCB arm is beginning its aggressive expansion of GCC with an explosion when sewing associations with some big names in the sector.
WHILE IT HAS SIGNED TO MEMORANDUM OF UNETENTING (MOU) WITH VISA, A World Leader in Digital Payments, To Develop Solutions Aimed At Supporting Smes Ampross The Midth Africa (Mena) Region Early This Month, A Company has announounced, Announunounced and Announounce Announced, Announced and Announced, Announned and Announced and Announced, Announced and Announced, Announced and Announced, Announced and Announced, Announced and Announced, and Announced, announced, he announced, he announced, and announced and’s. Logistics Investment and Holding Group, and Lulu Financial Duration The Week of Finance of Abu Dhabi last year to explore opportunities for collaboration and cook a startup centered on SMEs in the region.
Jain said thesis collaborations mark an important milestone in entrepreneurship entrepreneurship and Fintech’s innovation in the Middle East.
“Together with our partners, we are committed to support the growth of new companies and contribute to the regions through the Fintech ecosystem,” he said.
Only in the EAU, it is estimated that SMEs represent around 63.5 percent of the country’s non -oil GDP, which makes them a central element of the economic strategy of nations.
