7X, the trade, transport, and logistics investment and holding group, signed a Memorandum of Understanding (MoU) with SC Ventures, Standard Chartered’s innovation, fintech investment and ventures arm. The MoU, signed during Abu Dhabi Finance Week, lays the groundwork for exploring collaborative opportunities in the Middle East and North Africa (MENA), with a focus on empowering small and medium-sized enterprises (SMEs).

The partnership aims to combine the complementary strengths of both entities to power an innovation-driven, SME-focused venture in the Middle East and North Africa. This initiative seeks to address market pain points and unlock new growth opportunities. By focusing on extensive market insights and encouraging collaboration, the venture will deliver cutting-edge solutions tailored to the unique challenges faced by SMEs, such as access to funding, market entry barriers, and operational inefficiencies. Leveraging innovative business models, SME validation frameworks, and a strategic go-to-market approach, the initiative will develop and test a minimum viable product (MVP), designed to empower SMEs with scalable, technology-enabled solutions that foster sustainable growth and market resilience.

Abdulla Mohammed Alashram, Group CEO of 7X, said: “We at 7X firmly believe in the transformative power of collaboration. The latest partnership with SC Ventures demonstrates our commitment to empowering SMEs and promoting economic growth across the MENA region. By combining our knowledge of trade and logistics with SC Ventures' innovative strategies in various sectors, we hope to unlock new possibilities, maximise value, and redefine the future of entrepreneurship in one of the world's most dynamic regions.”

Alex Manson, CEO, SC Ventures, said: “This region holds huge potential for the SME sector and SC Ventures is committed to invest in its growth. Our SME-focused platform in the Middle East and North Africa region is planned for launch in the second half of 2025. It will facilitate cross border trade and empower SMEs to grow safely and profitably. Our partnership with 7X will help us unlock the full potential of SMEs in the region and beyond.”

Additionally, both organisations plan to evaluate strategic alliances, benefiting from their individual portfolios to jointly develop and implement transformative solutions tailored to meet the specific needs of the MENA region.

SC Ventures has been at the forefront of transforming the financial landscape, improving client experiences, and enabling global expansion. This partnership represents a major step towards redefining the role of SMEs in the region, building resilience, and advancing MENA's overall economic and social development.

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About 7X

7X, the new brand identity of Emirates Post Group Company, is a Public Joint Stock Company under the Emirates Investment Authority. Headquartered in Dubai, UAE, 7X operates as a trade, transport, and logistics investment and holding group, overseeing and managing its diverse portfolio including Emirates Post, EMX, FINTX, and EDC.

7X supports the UAE’s socio-economic development by integrating national goals across logistics, eCommerce, financial inclusion, and digitalization. It is the driving force enabling a world in motion from the 7 emirates to the 7 continents, and across the 7 seas.

About SC Ventures

SC Ventures is a business unit that provides a platform and catalyst for Standard Chartered to promote innovation, invest in disruptive financial technology and explore alternative business models.

For more information, please visit www.scventures.io and follow SC Ventures on LinkedIn.

About Standard Chartered

We are a leading international banking group, with a presence in 52 of the world’s most dynamic markets. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good. Standard Chartered PLC is listed on the London and Hong Kong stock exchanges.

For more stories and expert opinions please visit Insights at sc.com. Follow Standard Chartered on X, LinkedIn, Instagram and Facebook.

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