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In a bid to spice up UAE-based small and medium enterprises (SMEs) and suppliers entry working capital extra effectively and assist them swiftly ship on ADNOC buy orders, the Abu Dhabi oil large has signed a strategic partnership with Comera Monetary Holdings.
The collaboration will launch a financing program that can increase entry to liquidity whereas enabling scalable operations and sustainable progress for the suppliers and SMEs. The partnership reinforces ADNOC’s dedication to supporting native companies and advancing the UAE’s financial diversification by offering sensible options that empower SMEs to thrive and compete globally.
Khaled Al Zaabi, ADNOC Group Chief Monetary Officer, stated: “ADNOC’s partnership with Comera Monetary Holdings offers best-in-class financing options that can allow our UAE suppliers and SMEs to unlock working capital by changing buy orders into fast funding. It would improve liquidity, strengthen agility, and speed up enterprise progress.
“That is testomony to ADNOC’s dedication to additional advance a diversified economic system by supporting the SME ecosystem, strengthening the resilience of our native provide chains and delivering greater-in-country worth for the UAE.”
ADNOC and Comera will create an clever, automated platform that immediately connects SMEs and suppliers awarded ADNOC contracts to lender assist.
Akhtar Saeed Hashmi, Managing Director & Group CEO of Comera Monetary Holdings, stated: “Our partnership with ADNOC marks a historic leap in the best way provide chains are financed within the area.
“As a part of Abu Dhabi’s Royal Group, Comera Cash brings the power, scale, and imaginative and prescient wanted to ship world-class monetary innovation. By providing entry to capital to the group, we’re unlocking alternatives for suppliers to ship quicker, develop stronger, and innovate fearlessly.
Along with ADNOC, we’re constructing a mannequin of empowerment that can set new benchmarks for provide chain finance, not simply within the UAE however throughout world markets.”
The ADNOC–Comera Monetary Holdings partnership helps UAE’s industrial and financial progress and ADNOC’s In-Nation Worth (ICV) Program, which continues to spice up native manufacturing, job creation, and private-sector competitiveness.
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