Right to left: Tamweelcom CEO Ziad Al-Refai, Tamweelcom COO Hassan Jamil, and Silatach Chief Program Officer Martin Roeske.
Amman, Jordan (7th August 2013) – According to a worrying 2012 study by the International Monetary Fund, an estimated 25% of MENA youth between the ages of 15 and 24 struggle with unemployment – exceeding that of any other region in the world. Tamweelcom and Silatech have joined forces in order to connect young Jordanian entrepreneurs to expert guidance and resources in order to help their businesses flourish. Chief Programs Officer Martin Roeske of Silatech and Chief Operations Officer Hasan Jamil of Tamweelcom met this week to sign a partnership agreement, officially establishing the foundation for the dynamic collaboration between the two institutions.
With an unprecedented number of young people inundating a limited job market, Tamweelcom, Noor Al Hussein Foundation’s groundbreaking microfinance institution, and Qatar-based microenterprise initiative Silatech will collaborate to target creative and motivated young Jordanian entrepreneurs and provide them with the tools they need to create successful new businesses. An exciting nation-wide business plan competition is sure to generate a buzz and increase dialogue about entrepreneurship while highlighting the country’s creative talent. The campaign will be followed by intensive capacity building courses in the realm of business management, providing a practical foundation to build their businesses upon.
Tamweelcom continues to demonstrate its mission to combat poverty and joblessness through an array of innovative programs. The organization has benefited over 300,000 individuals since its inception in 1999, 94% of whom are female. Tamweelcom’s combined social and economic approach to long-term financial sustainability, as well as its focus on underrepresented or marginalized portions of the local economy makes Silatech a natural partner in its operations. Having established itself as MENA’s largest provider of microenterprise services and having raised $35 million in the past five years alone, Silatech is dedicated to the youth of the Middle East and North Africa, a group that faces unique challenges.
In addition to combating economic setbacks through targeted youth initiatives, this partnership represents microfinance’s powerful role in promoting social transformation. By providing young Jordanians with a platform to showcase their drive and innovation, Tamweelcom and Silatech will set a precedent of encouraging youth to dream big and believe in their power to enact change, breaking generational cycles of poverty and hopelessness.