HH Sheikha Moza Chairs Silatech Board Meeting

Doha, – HH Sheikha Moza bint Nasser, chairperson of the Board of Trustees of Silatech chaired today the first meeting of the new Board of Trustees of Silatech, at which Silatech’s annual performance 2016 and strategy and achievements report 2016 were presented, and the organisation’s operational plan for 2017 was also approved.

HH Sheikha Moza bint Nasser witnessed the signing of a number of Memorandums of Understanding (MoU) with its partners to support the Arab youth.

The agreements were signed at a ceremony with Silatech’s partners; Qatar National Bank- Africa, Smart Tunisia Programme- Ministry of Communication Technologies and Digital Economy, Tunisia, World Congress for Muslim Philanthropists, Islamic Solidarity Fund for Development and Enda Tamweel.

Silatech signed an agreement with QNB Africa to empower Youth in Sudan with Sama Al Shabab Portfolio. This partnership aims 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.

Another MoU to employ Tunisian youth was signed with the Ministry of Communication Technologies and Digital Economy,Tunisia. The programme, Smart Tunisia Programme, aims to create 50,000 jobs by 2020 and reduce migration of Tunisian competencies abroad.

Silatech will provide technical support to Smart Tunisia programme, through 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 programme to the companies and youth.

In another agreement, Silatech partnered 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.

The programme aims to attract major donors and investors and other supporters to ensure the continuity and expansion of the platform, which will support youth enterprises and create or sustain jobs for youth.

There was also an MoU with Islamic Solidarity Fund for Development (ISFD) to promote collaboration between Silatech and Islamic Solidarity Fund in the areas of economic empowerment and job creation for young people in the state members of ISFD, developing best practices 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. The partnership agreement with Enda Tamweel aims to provide youth loans and create 580,000 jobs in Tunisia. Enda Tamweel is one of the most successful Micro Finance institutions in Tunisia.

HH Sheikha Moza said, “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.

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.” Silatech Chief Executive Officer Sabah Al-Haidoos said that “Silatech actively seeks to activate the vision of HH Sheikha Moza 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 mobilising resources and expertise to make a real impact in the life of the Arab youth.”

Source: Qatar News Agency