MICROCAPITAL BRIEF: Al Hussein Fund, Sanad Fund for MSME Offer Online Curriculum for Young Owners of Small Businesses in MENA

The Jordan-based, nonprofit Al Hussein Fund for Excellence and the Sanad Fund for MSME, a Luxembourg-domiciled investor in micro-, small and medium-sized enterprises (MSMEs), recently partnered to give young business owners in the Middle East and North Africa no-cost access to a course called “How to Start and Manage a Successful Business.” The course, which was delivered in Arabic on the Edraak online education platform, “comprises multiple modules covering business basics along with specific phases of development such as starting, growing, financing and managing a business.” Approximately 18,500 people took part in the course over the first six months of 2020. The average age of the participants was 29, and the female:male ratio was 45:55. The course remains open for self-paced learning via Edraak, which is operated by the Queen Rania Foundation of Jordan.

Ines Ebrecht, the Chair of the Sanad Technical Assistance Facility, said, “Especially during times when micro- and small enterprises are struggling with the economic turbulence of the coronavirus outbreak, it is more important than ever that we equip entrepreneurs with the tools to shore up their business operations. Whether this is by optimizing their finances or learning how to expand their outreach, education, information and skills are indispensable.”

Sanad was founded in 2011 by German development bank Kreditanstalt für Wiederaufbau (KfW). It is funded by Germany’s GLS Bank; the EU; and development finance institutions of the Austrian, German and Swiss governments. Sanad invests in Algeria, Egypt, Iraq, Jordan, Lebanon, Morocco, the Palestinian Territories, Tunisia and Yemen with an emphasis on Egypt and Tunisia. As of 2020, the fund had an outstanding debt portfolio of USD 232 million. It is advised by Germany’s Finance in Motion, which manages assets valued at EUR 2.5 billion (USD 2.7 billion) as of 2020.

Al Hussein Fund is an NGO that was established in 1999 with the goal of being a center for “promoting excellence, encouraging innovation and endorsing sustainable development…in both private and public sectors in Jordan.” The organization’s recent projects include several relating to renewable energy, another on launching an award for economic research in conjunction with the Central Bank of Jordan and a partnership with the University of Jordan to improve the quality of the education delivered by the university.

By Nathan Kiplagat, Research Associate

Sources and Additional Resources

Sanad news release
https://www.sanad.lu/events-press/sanad-hfe-support-entrepreneurs-in-mena-region-with-free-online-education

Al Hussein Fund for Excellence homepage
https://www.husseinfund.jo/

Sanad homepage
https://www.sanad.lu/

Finance in Motion homepage
https://www.finance-in-motion.com

Edraak homepage
https://www.edraak.org/

Online course
https://www.edraak.org/course/course-v1:HFE+SME101+2020_T2/

Queen Rania Foundation homepage
https://www.qrf.org

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