The Initiator & Strategic Partner
The SANAD Fincluders Startup Challenge was – as the name suggests – initiated by the Technical Assistance Facility of the SANAD Fund for MSME, with the goal of promoting financial inclusion through fintech in the MENA region. And who better to partner with than Oasis500, one of the key actors in the tech space. Together we combine expertise, networks and resources from the financial, development and tech arenas to bring you the first fintech for financial inclusion competition for the MENA region.
Initiator & Main Sponsor
The SANAD Technical Assistance Facility (TAF) is part of the SANAD Fund for MSME, which was initiated by KfW Development Bank as a public-private partnership funded by the German Federal Ministry for Economic Cooperation and Development (BMZ), the European Union, KfW Development Bank, Switzerland´s State Secretariat for Economic Affairs (SECO), the Development Bank of Austria (OeEB), the German GLS Bank and the Dutch Development Bank (FMO). The Fund provides debt and equity finance to partner institutions in the Middle East and North Africa to support the growth of, and employment creation within, the region’s micro, small, and medium enterprise (MSME) sector. The Fund is advised by Finance in Motion.
The SANAD Technical Assistance Facility (SANAD TAF) deploys effective, targeted and innovative projects to maximise the impact and outreach of SANAD’s development finance mandate in the MENA region to support the final target groups i.e. micro and small enterprises and low-income private households.
The SANAD TAF does this in several ways:
- Addressing capacity building needs of the Fund’s financial institution partners in the region.
- Supporting a strong and stable financial sector by strengthening sector institutions, increasing financial literacy and conducting research.
- Developing and supporting innovation for the Fund, for example on fintech and its potential to deliver responsible finance via the partner institutions to the Fund’s end clients.
Having invested in more than 130 startups, and trained more than 2,400 entrepreneurs since its inception; Oasis500 have been a trailblazer in building the entrepreneurial sector in Jordan and the region. As well as over $40M follow on funding has been raised by portfolio companies from third party investors.
The SANAD Fund and the SANAD TAF are advised by
Finance in Motion is an impact investing advisor exclusively focused on development finance. It is one of the world’s leading asset managers in this field, advising funds with around EUR 1.7 billion in assets under management.