Abu Dhabi, 26 March 2019: The Khalifa Fund for Enterprise Development (KFED) has signed a Memorandum of Understanding (MoU) with the Abu Dhabi National Oil Company (ADNOC) where Khalifa Fund will provide a range of training programs and entrepreneurship workshops for ADNOCs employees and retirees who are looking to enhance their skills and knowledge in the SME sector.

The signing of the agreement was held at ADNOC headquarters between Mouza Al Nasri, Acting Chief Executive Officer at Khalifa Fund and Ghannam Al Mazrouei, Director of the Human Capital and Administration Directorate at ADNOC. This new initiative is in line with the Funds leading efforts to support and develop entrepreneurship and create a new generation of competent UAE entrepreneurs.

The MoU is aimed at enhancing cooperation between the two parties that will further boost entrepreneurship and support SMEs. The agreement stated that KFED will provide a series of training programs for ADNOC employees and retirees and give them the opportunity to become members of the Fund in accordance with existing policies, as well as free entrepreneurship workshops and consultancy. ADNOC for its part will provide the technical expertise in evaluating business plans in the oil and gas sector for applicants supported by the Fund, as well as platforms for Sougha products to be showcased within ADNOC during its official events and activities.

Mouza Al Nasri said: This agreement is in line with Khalifa Funds endeavors to establish cooperation and exchange experiences with various governmental, semi-governmental and private entities within the UAE. The MoU with ADNOC today further upholds these efforts, demonstrating the interest of both parties to explore cooperation opportunities in the field of entrepreneurship and how to promote SMEs.
This step also marks the beginning of our collaboration with ADNOC, and we look forward to further strengthen it in the future. The Fund is prepared to provide the support and training for ADNOCs employees and retirees who wish to enter the entrepreneurial world and develop small and medium-sized national enterprises that could provide new jobs based on creativity and innovation.