SC Ventures And Visa Partner To Support SMEs In The MENA
Through this partnership, the two entities are committed to equipping SMEs with the tools and resources to thrive, expand, and drive sustainable growth in the increasingly digital and interconnected global economy.
SC Ventures, the innovation, fintech investment, and ventures arm of the international banking group Standard Chartered, has signed a memorandum of understanding (MoU) with global payments leader Visa to develop solutions that support small and medium-sized enterprises (SMEs) across the MENA region.
The signing took place at the Visa Innovation Center in Dubai, where Rola Abu Manneh, CEO of Standard Chartered Middle East, UAE, and Pakistan, along with Dr. Saeeda Jaffar, Visa’s senior vice president and group country manager for the Gulf Cooperation Council, reaffirmed their commitment to support innovation and fostering SME growth in the UAE and beyond.
By leveraging Visa’s global payment technology and SC Ventures’ fintech expertise, the collaboration aims to deliver tailored solutions that drive sustainable growth for SMEs, with the MoU setting the foundation for a proof of concept for a joint collaboration to promote the growth of SMEs.
As part of the agreement, SC Ventures and Visa plan to conduct regular workshops and meetings to facilitate knowledge sharing, exchange best practices, and ensure the solutions being developed remain relevant and effective.
In a statement, Gautam Jain, operating member at SC Ventures, said, “This partnership represents a critical milestone in SC Ventures’ mission to strengthen the SME ecosystem in the MENA region. Through this partnership, we are committed to equipping SMEs with the tools and resources to thrive, expand, and drive sustainable growth in the increasingly digital and interconnected global economy.”
Salima Gutieva, Visa’s vice president and country manager for the UAE, said, "Visa is focused on supporting economic growth in the region. This collaboration with SC Ventures will help provide SMEs with the tools and knowledge they need to accelerate their digital transformation as well as to expand their business, improve efficiency, and explore new growth avenues.”
Pictured on image is Visa's Dr. Saeeda Jaffar with Standard Chartered's Rola Abu Manneh. Image courtesy SC Ventures.
