How Is Numou Empowering UAE SMEs to Thrive?
Numou has recently launched an innovative digital lending marketplace aimed at revolutionising SME financing in the UAE. It’s part of ADGM, Abu Dhabi's international financial centre, and they’ve significantly expanded their network of lending partners. Some of the key names involved include the Khalifa Fund for Enterprise Development and private credit providers like Credible-X, Klubworks, and NymCard Payment Technologies.
The idea behind this platform is to streamline and simplify the lending process for SMEs, which are incredibly important to the UAE’s economy, making up 94 percent of all companies and contributing about 40 percent to the national GDP. Despite their importance, SMEs often struggle to access financing when they need it. In fact, recent data from the UAE Central Bank shows that loans to SMEs account for only 9.5 percent of total financial facilities to the commercial and industrial sectors. That’s a huge gap, and Numou is stepping in to address it.
With Numou’s platform, SMEs can submit one standardised online application that meets the requirements of multiple lenders. It saves a lot of time and effort since businesses won’t need to keep repeating paperwork or physically visiting branches. Plus, the platform gives full transparency into things like interest rates, loan terms, and approval times, allowing businesses to make more informed decisions. Another advantage is that competition among lenders leads to better terms and rates for businesses.
For financial institutions, it’s also beneficial. Lenders get standardised applications that make credit assessment quicker and easier, cutting down the time needed for approvals. And with Numou’s focus on partnerships, there’s a lot of room for innovation and new financial solutions tailored to SMEs.
Numou isn’t just about lending—it’s part of ADGM’s bigger mission to empower SMEs and drive economic development in Abu Dhabi. Arvind Ramamurthy from ADGM highlighted that this platform is a real example of how ADGM supports SMEs, helping them access financing more easily to grow and thrive.
Khalifa Al Zaabi, Numou’s General Manager, added that this platform is transformative for SMEs. It’s not just a digital tool—it’s giving businesses access to a wide range of financial products, helping them unlock their full potential. It aligns with Abu Dhabi’s broader initiatives to make it easier for SMEs to get funding and succeed in the market.
Looking ahead, Numou plans to introduce new features like supply chain financing (factoring) and even equity financing. This will give SMEs more flexibility and access to capital, helping them tackle future challenges and opportunities.
In the end, Numou is about empowering the UAE’s SME ecosystem, making financing more accessible, driving growth, and supporting the country’s vision of a diversified economy. It’s a key part of creating a resilient, thriving business environment for SMEs in the UAE.
