Development & Impact
Latest studies show that the MENA region currently has the highest unemployment rate in the world a problem that disproportionately affects young people. To satisfy the youth population’s need for unemployment and to avoid social unrest, the MENA nations need to create approximately 100 million new jobs by 2020 (World Bank).
the Nomou programme seeks to address this challenge by supporting the development of a viable SME sector that will serve as the main engine of job creation and economic growth. This vital sector has the potential to deliver diversified and strong national and regional economic bases, as well as to boost the creation of employment opportunities while enhancing competitiveness.
Nomou’s ten-year goal is to create over 15,000 sustainable jobs through the support and finance of at least 600 small and medium-sized enterprises within the region. The programme model also contributes to economic diversification through the development of local content by establishing market linkages to large company supply chains.