Metric, a global financial analytics and intelligence platform for small and medium businesses (SMEs), has joined forces with Sheikha Latifa bint Mohammed bin Al Sheikh Mejren & AFAQ Group for Investments to fortify the SME sector across the UAE.
“We are thrilled to partner with AFAQ Group” said Meenah Tariq, CEO of Metric. “This partnership reflects our shared vision of empowering SMEs, which are the backbone of the UAE’s economy. By providing advanced financial insights, we aim to help these businesses thrive, driving sustainable economic growth.”
In the UAE, the government’s focus on nurturing SMEs is evident through various initiatives and policies designed to create a conducive environment for these businesses. Despite these efforts, challenges such as access to finance, market competition, and the necessity for sophisticated business insights persist.
Metric’s platform offers easy integrations with popular accounting software and local banks, eliminating manual data entry and allowing business owners to concentrate on growing their businesses. Business owners get simple dashboards, with no accounting or finance knowledge required, to make better decisions.
The platform’s AI engine, Max, aims to provide unparalleled financial analysis, identifying spending patterns and growth opportunities that traditional accounting tools often miss.
Metric is backed by local and international VCs, including 500 Global through their Sanabil MENA fund.
“SMEs are the cornerstone of our economy, and their success is integral to our nation’s prosperity,” declared Sheikha Latifa bint Mohammed bin Al Sheikh Mejren. “Our partnership with Metric aligns perfectly with our dedication to equipping SMEs with the essential tools and resources to flourish.”
As the UAE continues its journey towards economic diversification, the support and empowerment of SMEs remain crucial. With the number of SMEs set to reach 1 million by 2030, initiatives like the partnership between Metric and Sheikha Latifa bint Mohammed bin Al Sheikh Mejren’s Afaq Holdings are more important than ever. These endeavors not only reinforce the SME sector but also significantly enhance the UAE’s non-oil GDP, ensuring sustainable and inclusive economic growth.
By leveraging advanced financial insights and fostering a supportive ecosystem, this partnership is poised to drive significant positive change, helping small businesses flourish and contributing to the nation’s economic prosperity.
