SME Development Fund supported company achieves 95% Omanisation

Muscat - 

Technocom Trading, a telecom-related service company, started their operation during early 2017, by Salem Barwani who was working with Omantel for more than 23 years. The company was created to cater to the need of Omantel customers for fault resolution and cabling. The company has 23 Omani employees out of 24 employees, with almost 100 per cent Omanisation, who are assisting him. They have got this as a sub-contract from Bahwan Telecom & Projects.

SME Development Fund has very recently supported this new start-up by providing vital financial support while they were acquiring 20 vehicles for their new operation.

Barwani said, “I was working with Omantel in similar assignment for almost 23 years and therefore I have rich experience for such work. This was a good opportunity for me to start in similar line of activity and therefore I took an early retirement to focus on this business. I am also very proud to associate with SMEF who has supported a start-up like us”.

SME Development Fund (an OAPFD initiative) launched in 2014, managed to establish its presence in all the elements of its four-point plan viz Entrepreneurship Development, Nurturing, Legitimising & Funding.

As of April 2017, 21,000 students from 21 colleges have been trained. The Senior Entrepreneurship Development Programme was launched in collaboration with the Ministry of Defence. World class accounting firm likes KPMG and BDO were contracted to provide accounting support along with in-house monitoring team. The company has extended financial support to more than 200 SMEs and is also actively working for supporting the In-Country Value programme of the Ministry of Oil and Gas. 

Raphael Parambi, CEO of SME Development Fund said, “It is indeed a privilege to support the upcoming SMEs in the country especially when the promoter of the business has so much experience in similar work and is prepared to work, ‘hands-on’. Moreover, this also integrates with our initiatives to promote companies creating jobs for Omanis youth.”

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