Oman’s National Finance and Sharakah Renew Partnership for SMEs

Oman-based National Finance has renewed its partnership with Sharakah to support small and medium-sized enterprises (SMEs) in the region.

The renewed agreement will support the sixth edition of Sharakah’s SME Growth Program, which will provide training workshops and expert-led advisory sessions to 14 businesses selected for the initiative. The announcement was made on September 23, 2026, and outlines a structured approach to enhancing SME capacity through targeted financial and operational guidance. This initiative aligns with Oman’s broader economic strategy to diversify its economy and reduce reliance on hydrocarbon revenues, a goal emphasized in the country’s Vision 2040 framework.

Details of the SME Growth Program

The sixth edition of the SME Growth Program will focus on equipping participating businesses with tools to improve financial management, digital transformation, and market expansion. While the program’s exact curriculum remains unspecified, Sharakah has historically emphasized skill-building in areas such as business planning, access to capital, and compliance with regulatory standards. The 14 selected SMEs will benefit from a combination of in-person and virtual sessions, though the specific delivery method has yet to be confirmed. The program’s duration and eligibility criteria for business selection are also not detailed in the official announcement.

Significance of the Partnership

For Oman’s economy, this partnership reflects ongoing efforts to bolster the SME sector, which is critical for economic diversification and job creation in the region. SMEs account for approximately 40% of Oman’s GDP and employ over 60% of the private sector workforce, according to the Oman Statistics Center. However, many SMEs struggle with limited access to financing, operational inefficiencies, and a lack of technical expertise. By aligning with Sharakah’s expertise in business development, National Finance aims to address these gaps through tailored support that bridges the divide between traditional business practices and modern financial solutions.

The collaboration also underscores the role of public-private partnerships in fostering innovation and resilience within Oman’s SME ecosystem. National Finance, a leading financial services provider in the Sultanate, has previously supported SMEs through credit facilities and advisory services. Sharakah, a regional business development organization, has a track record of scaling SMEs through its incubation programs and mentorship networks. Together, they aim to create a sustainable pipeline for SME growth that aligns with Oman’s long-term economic goals.

What wasn’t disclosed in the announcement includes the specific criteria for business selection, the duration of the program, and whether the training will be delivered in-person or remotely. Additionally, the financial terms of the partnership and any potential expansion beyond the initial 14 SMEs remain unspecified. These gaps highlight the need for further transparency to ensure the program’s effectiveness and scalability.