Silatech signs new agreements to support Arab youth

Her Highness Sheikha Moza bint Nasser, Founder and Chairperson of Silatech, chaired the first meeting of the new Board of Trustees this morning.

During the meeting, Silatech’s Annual Performance 2016 and Strategy and Achievements Report 2016 were presented, and the organization's Operational Plan for 2017 was approved by the board. After the meeting, a number of MOUs were signed during a ceremony with Silatech’s partners: Qatar National Bank- Africa, Smart Tunisia Program- Ministry of Communication Technologies and Digital Economy- Republic of Tunisia, World Congress for Muslim Philanthropists, Islamic Solidarity Fund for Development and Enda Tamweel.

The new Board of Trustees comprises: Sheikh Saud Bin Nasser Al Thani, Group Chief Executive Officer of Ooredoo; Dr. Hessa Al Jaber from Qatar; Dr. Waleed Al-Wohaib Director General of the Islamic Solidarity Fund for Development (ISFD); Mr. Abdullah bin Abdullatif Al-Fozan Chairman of Bawan; Mrs. Maha Al-Ghunaim Co-Founder, Vice Chairman and Group Chief Executive Officer of Global; Mr. Karim Hajji Chief Executive Officer of the Casablanca Stock Exchange in Morocco; Mrs Amira Yahyaoui Founder of Al Bawsala; Mr. Rafat Al Akhali, Yemen’s former Minister of Youth and Sports and Co-Founder and Chairman of Resonate Yemen; and Ms. Sabah Al Haidoos, Chief Executive Officer of Silatech.

Her Highness Sheikha Moza bint Nasser, Chairperson of the Board of Trustees confirmed: "The engagement of a diverse Board of Trustees will enable Silatech to promote its support for young people in the Arab world, unlock their full career skills and engage them in the development of their communities.” Commenting on the signing of the strategic agreements between Silatech and its partners, Her Highness commented: “These strategic agreements demonstrate our ongoing commitment to our young people to help them achieve their aspirations. We need to tackle the challenge of unemployment through innovative and effective solutions.”

Ms. Sabah Al Haidoos, Chief Executive Officer commented: “Silatech actively seeks to activate the vision of Her Highness Sheikha Moza bint Nasser, Founder and Chairperson of the Board of Trustees of Silatech, in order to achieve an Arab world that allows young people to work and participate in the economic development of their communities. We can only achieve this vision through collaborating with partners and mobilizing resources and expertise to make a real impact in the life of the Arab youth.” She added: “The agreements signed today are tangible steps forward in our journey towards securing a better future for our Arab youth.”

A.H.Duale, twenty-eight-year-old dreamed of going to Europe to look for a better life. While travelling to reach Europe he moved across Ethiopia and Libya. He stayed in Libya for over three years in order to cross the Mediterranean Sea. After many attempts, he was not able to do so. He witnessed many of his friends’ die, while attempting to cross the sea. He gave up on the European dream and he returned back home --to Hargeisa Somalia. Then he discovered a loan program for startup entrepreneurs which was developed by Silatech, American Refugee Committee (ARC) and Kaah Islamic Microfinance (KIMS). He received USD 1,600 loan to start up his business. He opened a cafeteria in Hargeisa Somaliland region.  The business became really successfully and he was able to hire 3 new staff. Now he sells over 600 cups of tea a day to locals.

Mr. Abdi Duale from Somalia, one of the beneficiaries of Silatech’s programs, shared his story and how Silatech helped him change his life for the better. He said: "I have dreamed of all my life to go to Europe to find a better life. In my trip to Europe I traveled through Ethiopia and Libya. I stayed more than three years in Libya trying to find a way to cross the sea to reach Europe, and all my attempts failed. During my stay Libya, I witnessed the death of many of my friends as they tried to cross the sea which made me abandon the European dream I had and return to my home country.” And Then he discovered a loan program for startup entrepreneurs which was developed by Silatech, American Refugee Committee (ARC) and Kaah Islamic Microfinance (KIMS). “Through the loan, I started my own business and founded a cafeteria That changed my life ... Thank you Silatech .. because of its programs I became an active member of my community. "

MOUs and Agreements signed today in the presence of Her Highness Sheikha Moza Bint Nasser:

• MOU to empower Youth in Sudan – (Sama Al Shabab) Portfolio
• Partner: QNB Africa

Sama Al Shabab is a Joint partnership project between Silatech and QNB- Africa to support the growth and sustainability of youth owned enterprises in Sudan that contribute to job creation. Silatech will help QNB Sudan direct 12% of its portfolio towards financing youth enterprises.

• MOU to employ Tunisian youth in (Smart Tunisia Program)
• Partner: Smart Tunisia,  Ministry of Communication Technologies and Digital Economy- Republic of Tunisia

Silatech will provide technical support to Smart Tunisia program, through utilizing Silatech’s employment platform “Tunis Ta3mal” to enable jobs for Tunisian youth, and collaborate with partners to train them to work in the companies attracted by Smart Tunsia. As for financial support, Silatech will contribute to the marketing activities to promote the program to the companies and youth.

Expected results: create 50,000 jobs by 2020 and reducing the migration of Tunisian competencies abroad.

• MOU to launch Narwi Platform
• Partner: World Congress for Muslim Philanthropists

Silatech will join hands with The world Congress for Muslim Philanthropists to launch, activate and develop Narwi platform, the first innovative Micro-waqf platform launched by Silatech in 2015 to connect youth entrepreneurs with donors and help them access finance to start income generating projects.

Impact: Attract major donors and investors and other supporters to ensure the continuity and expansion of the platform, which will support youth enterprises and create/sustain jobs for youth.

• MOU with Islamic Solidarity Fund for Development (ISFD)

This MOU is to promote collaboration between Silatech and Islamic Solidarity Fund in the areas of economic empowerment and job creation for young people in the states members of ISFD, developing best practices in the areas of common interest, and sharing knowledge and experience.

In addition to the MOUs, A new strategic partnership with Enda Tamweel was announced to provide youth loans in Tunisia:

• Partnership agreement with Enda Tamweel to provide youth loans and create 580,000 in Tunisia

Enda Tamweel is one of the most successful Micro Finance institutions in Tunisia. This partnership aims to create more than 580,000 jobs across Tunisia via providing support to young entrepreneurs to start and grow their own businesses by facilitating their access to finance in addition to the necessary technical support.