Oman Economic Review – August 2018

COVER STORY

44 August 2018

assess and analyse the nutrition levels
of Omanis, notably women and children
as the anchors of society. Another
significant support was providing vital-
sign monitors at the paediatric intensive
care unit at Samail Hospital, an
essential piece of equipment required
to raise the standards of care for
children in surrounding communities.
Our focused efforts to improving
hospital facilities include delivering an
ultrasound machine at Fanja Hospital,
electronic patient beds at Izki Hospital,
and vital-sign monitors at Bidbid Health
Centre. Eshraqa has been orchestrating
blood donation camps, driving health
related events, and other awareness-
focussed activities through its annual
contributions.

Sports play a big part in Eshraqa’s social
endeavours. Nailesh says, “As a socially
focussed investment arm, we believe
that children and older youth deserve
the opportunity to refine their skills in
order to reach their maximum potential

• and perhaps even one day represent
  the Sultanate on the international
  stage.” Eshraqa works far and wide
  to produce the foundations required
  for basic practice and involvement
  in sport. Some of its sponsorship
  efforts include Oman Karting Team,
  the Swanyi Beach Tournament (by Al
  Swayni Sport Services); sportswear for
  Al Itifaq Team and Widam Al Ghaf,
  the Ministry of Sports Affairs’ Shaqi
  Farikak, the Summer of Sports event,
  and Nakhal Sports Team’s teacher
  football tournament. Recently, Eshraqa
  sponsored the Paralympic Team to
  partake in the World Para Athletics
  Grand Prix Series 2018 in Tunis. The
  Omani delegation including eight
  athletes who competed among 20 other
  countries and came home with a total of
  12 medals (two Gold, six Silver and four
  Bronze).

Similarly, Eshraqa has helped to orga-
nise Mass Weddings in the Wilayats of
Izki, Yiti, and Bandar Al Khairan to help
financially challenged Omanis move
forward with this important life event.
Mosques have been built nationwide,

in addition to multiple Majlis in remote

communities throughout the interior.

Eshraqa has also contributed to Women

Empowerment projects, providing

sewing machines to Basmati Al Khair

Association, and a digital literacy pro-

gramme for housewives who are mem-

bers of the Omani Women Association.

Furthering its investments on social

welfare, the team distributed 8,000

Ramadan boxes to families in need

during the build-up to the Holy Month

of Ramadan in 2018. The team visited 18

charities and non-profit organisations

to reach beneficiaries across the nation

with packages that contained essential

items.

One of Eshraqa’s key ongoing

achievements is currently providing

infrastructural aid to government

schools supporting education and

training in the wilayats of Samail,

Izki, and Bid Bid. Twenty three sun

shades, 323 smart TVs, 250 surveillance

cameras, and four artificial playgrounds

with turf and porta cabins have been

planned for delivery by 2019.

Unlocking the SME potential

With a view to place Oman as an exem-

plary case amidst the increasingly com-

petitive and complex global arena, KR’s

social investment arm works to unlock

the potential of the SME sector through

training and ground level support.

“Starting a new business in an emerging

market beset by economic fluctuation

is no mean feat,” says Nailesh. “Be it

with conventional or new and exciting

concepts, Entrepreneurs looking to

establish themselves in Oman tend

to experience undue pressures and

constraints owing to gaps in knowledge

and the need for training. Eshraqa

Entrepreneurship Academy (EEA) is

a fantastic example of the benefits

that come from collaboration. As a

platform defined by partnership the

EEA produces high calibre training and

mentoring programmes to meet the

needs of different groups across Oman,

providing assistance from experts on

a range of subjects including funding,

feasibility studies, business planning,

operations, and facility access, in

addition to assistance in the backward/

forward integration of businesses with

suppliers, customers and clustering.”

Entrepreneurial development is essential

to Oman’s continued progress, and

like any investor delivering holistic

contributions, Eshraqa has taken an

admirable stance in assisting micro,

small, and medium-sized businesses.

In collaboration with Riyada and SME

Fund, Eshraqa Entrepreneurship

Academy mentors aspiring Omani

talent. KR’s Leadership Academy has

also created a strong skill development

framework to transform thousands

of young Omanis at key stages of

professional advancement, which the

group believes is essential, as these

are the people who will start the SMEs

that form the backbone of Oman’s

economy. “The investment does not stop

there however, and this is a point often

missed; those who are trained are not

only valuable in that they can produce

a better performance or output, but in

that they become the inspiration for

future entrepreneurs and colleagues.

Those trained therein comprise a tool

for enhancing the existing and future

workforce as an increasingly competitive

resource directed at national prosperity,”

concludes Nailesh.