Monsha'at qualified 160 enterprises to list shares on stock market: Governor

Sami Alhussaini, Governor of Small and Medium Enterprises General Authority (Monsha'at)

The Small and Medium Enterprises General Authority (Monsha'at) has supported 160 enterprises to be qualified for listing on the stock market, 14 of which have already listed their shares, according to Sami Al Hussaini, Governor of Monsha'at.

During his speech at the CEOs Forum, held in Riyadh on Oct. 18, Al Hussaini said that Monsha'at’s Tomoh Program for fast growing SMEs aims to stimulate the growth of SMEs and create opportunities for their business local and regional expansion.

The Tomoh Program includes more than 1,000 SMEs considered among the best in the Kingdom, he added.

Total investments in the Tomoh Program amounted to more than SAR 1.5 billion since 2022, while revenues rose by 40% during the year to SAR 16 billion, Alhussaini said.

The Governor went on to say that over 17,000 fast-growing SMEs account for more than half of the overall growth in SMEs' contribution to GDP.

The sixth edition of the CEOs Forum was organized by Monsha'at under the patronage of the Minister of Commerce and Monsha'at Chairman Majid Al-Qasabi on Oct. 18.

More than 1,100 entrepreneurs and stakeholders discussed significant topics in relation to promoting the investment environment, developing global investment strategies, and exploiting growth opportunities in accelerating SMEs’ economies.

Artificial intelligence’s impact on reshaping business sectors was also put up for discussion.

The forum witnessed nearly 80 advisory sessions and 56 investment opportunities, while it hosted 17 investors and representatives of investment entities, 23 SMEs’ exhibitors, 20 local and international speakers, and eight agreements inked, covering various financing areas in support of SMEs.