Her Highness Visited Khadija project in Yemen supported by Silatech to create a complete youth entrepreneurship solution through strategic agreements with key Yemeni financial institutions

 

Yesterday Her Highness Sheikha Mozah bint Nasser Al Missned, Chair of the Silatech Board of trustees, visited the Khadjia project site in Sana’a, Yemen.  Silatech joined forces with the Youth Leadership Development Foundation (YLDF), in 2009 to develop a comprehensive enterprise solution for aspiring young women entrepreneurs.

Her Highness met with Ms. Safa Rawiah the Executive Manager of Youth Economic Development Center and was introduced to the project vision and achievements to date. Using the slogan “behind each successful woman there is a great man,” this innovative project links groups of dynamic young female and male entrepreneurs together to form women-led business teams. This pilot project will provide entrepreneurship training linked to mentoring and business incubation services to 200 young women entrepreneurs.

Throughout its start-up phase with around 50 young people now undergoing entrepreneurship training, strong interest in the program is enabling it to build momentum.

Silatech and its partner are also attracting corporate interest in supporting the provision of in-kind mentoring support to entrepreneurs. The private sector is also providing support scholarships to assist young women and men from communities outside of Sana’a access to the program.

Linkages are now being cemented between Khadija and Silatech’s financial intermediary partners in Yemen, the Small Enterprise Development Fund (SEDF) and Al-Amal Microfinance Bank (AMB), to link future graduates of the Khadija program with sustainable financing.

Both SEDF and AMB are set to enter into agreements with the Khadija program to provide “priority access” to Khadija graduates who approach to their institutions looking for either small (SEDF) or micro (AMB) business financing for their projects, as long as they meet the basic terms of and conditions of both institutions.

Mohammed Al Maitami, Senior Country Representative for Silatech in Yemen reacted “Silatech’s focus is on supporting the introduction of comprehensive, scalable and sustainable youth employment and enterprise solutions in Yemen.  This agreement sees the linking of key Silatech partners to create an end-to-end approach to youth entrepreneurship support in Yemen."