MUSCAT, SEPT 7
The Oman Future Fund, part of the Oman Investment Authority (OIA), announced the launch of its lending portfolio for small and medium-sized enterprises (SMEs), reinforcing the fund’s strategic role in supporting entrepreneurship and complementing national SME and startup financing initiatives.
The new financing option offers quick access to funds within two weeks of application, along with flexible repayment plans to help SMEs and startups meet operational and growth needs. This initiative aligns with Oman 2040’s goals to build a competitive knowledge-based economy and provide a supportive environment for innovation and entrepreneurship, creating quality employment opportunities for Omani youth.
The portfolio will be operated by Beehive, the region’s first specialised SME financing platform since 2014, leveraging AI to assess applicants’ financial standing. Entrepreneurs and business owners can apply via the fund’s website, where applications are routed to the relevant managers and Beehive evaluates and executes financing in line with the fund’s objectives.
Rashid bin Sultan al Hashmi, Senior Director at Oman Future Fund, said the launch reflects the fund’s founding vision and responds to demand from SMEs and startups, offering capital to cover operational expenses such as salaries and rent. He emphasised that this flexible financing will help businesses overcome operational challenges, accelerate growth and support economic diversification and local content.
Peter Tavener, Co-founder and CFO of Beehive, described the partnership as a strategic milestone, confirming the company’s business model and its role as a trusted provider of non-bank financing. With the fund’s support, Beehive is ready to meet growing demand and further drive sustainable economic growth in Oman.
As of December 2024, the Oman Future Fund had invested in 45 projects across ten sectors, totalling RO 1.249 billion, including RO 885 million in foreign direct investment and RO 333 million from the fund itself, generating over 1,600 jobs and stimulating further investment in the national economy. — ONA
