Sharakah and Development Bank renew Tanmo agreement to boost SME growth in Oman

2025-05-08 06:10:32

(MENAFN- Prime Advertising LLC) In a significant step toward advancing Oman’s SME ecosystem, Sharakah, Oman’s premier SME development firm and the Development Bank have renewed their cooperation under the Tanmo programme, continuing a strategic alliance that delivers targeted advisory and financial services to Omani entrepreneurs.

Originally launched in March 2024, the Tanmo programme focuses on empowering Omani SMEs, particularly in the logistics and manufacturing sectors. It offers orientation sessions, expert mentorship, and practical tools to help businesses strengthen their capabilities in project planning and long-term sustainability.

The renewed agreement, signed in May 2025, formalises a six-month collaboration to support ten selected SMEs in Muscat. Under the updated scope, Sharakah will provide a 360-degree assessment and tailored advisory services, followed by an extended period of business monitoring. The initiative aligns closely with Oman Vision 2040 and the Tenth Five-Year Development Plan.

“Following the success of our earlier collaboration, we are proud to continue supporting Omani businesses with a more focused and structured approach,” said Ali Ahmed Muqaibal, CEO of Sharakah. “The Tanmo programme has proven its value in building entrepreneurial capacity, and we look forward to deepening our impact.”

The agreement outlines the use of business evaluation tools, knowledge-sharing mechanisms, and structured support to strengthen SME performance. Joint communication and outreach efforts will be supported through coordinated media activities. Both Sharakah and the Development Bank have appointed dedicated focal points to ensure smooth execution.

Hussain Ali Al Lawati, CEO of the Development Bank, added, “Renewing our partnership with Sharakah through Tanmo highlights our shared vision for sustainable SME growth. We are confident that this initiative will continue to provide businesses with the tools, knowledge, and financing required for long-term success.”

The renewed collaboration between Sharakah and the Development Bank reflects a shared commitment to nurturing Oman’s entrepreneurial landscape. Through the Tanmo programme, both institutions aim to create lasting impact by equipping SMEs with the resources and guidance needed to grow sustainably. This partnership continues to serve as a model for effective support in the Sultanate’s evolving business ecosystem.

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