Abu dhabi: ADNOC has signed a strategic partnership with Comera Financial Holdings to enhance financial access for ADNOC's UAE-based small and medium enterprises (SMEs) and suppliers. The collaboration will launch a financing program, enabling SMEs and suppliers to access working capital more efficiently to enable them to more swiftly deliver on ADNOC purchase orders (PO).
According to Emirates News Agency, the initiative will boost access to liquidity while enabling scalable operations and sustainable growth for the suppliers and SMEs. The partnership reinforces ADNOC's commitment to supporting local businesses and advancing the UAE's economic diversification by providing practical solutions that empower SMEs to thrive and compete globally.
Khaled Al Zaabi, ADNOC Group Chief Financial Officer, stated that the partnership with Comera Financial Holdings provides best-in-class financing solutions, allowing UAE suppliers and SMEs to unlock working capital by converting purchase orders into immediate funding. This development is expected to enhance liquidity, strengthen agility, and accelerate business growth.
As part of the agreement, ADNOC and Comera Financial Holdings will create an intelligent, automated platform that directly connects SMEs and suppliers awarded ADNOC contracts to lender support. Akhtar Saeed Hashmi, Managing Director and Group CEO of Comera Financial Holdings, emphasized that the partnership marks a historic leap in regional supply chain financing, aiming to set new benchmarks both locally and globally.
The ADNOC-Comera Financial Holdings partnership supports UAE's industrial and economic growth and ADNOC's In-Country Value (ICV) Program, which continues to boost local manufacturing, job creation, and private-sector competitiveness.