100 Million Riyals Extend Fund Announced to Support Saudi SMEs and Cultural Ventures

100 Million Riyals Extend Fund Announced to Support Saudi SMEs and Cultural Ventures

By Staff Writer, 07 March 2024

Extend Group and Rassanah Financial have jointly unveiled the Extend Fund, a new initiative aimed at bolstering the growth of small and medium-sized enterprises (SMEs) in Saudi Arabia while promoting innovation in digital media, arts, Arab culture, and media production.

With a significant value totaling 100 million Saudi Riyals, the fund will be overseen by a specialized team from Rassanah Financial, with the primary goal of fostering the creation of employment opportunities and empowering local talents to showcase and enhance Saudi culture on a global scale.

The announcement of the fund was made during Extend Group's 13th-anniversary celebration, where strategic partnerships were also formed with Intuit.lap Academy and Peaksource Group to establish the Extend Academy.

This collaborative effort between Extend Group and Rassanah Financial marks a significant step forward in supporting the growth and development of SMEs in Saudi Arabia, while simultaneously promoting cultural innovation and economic empowerment within the region.

Source: Waya Media

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