JEDDAH: Saudi Arabia's Small and Medium Enterprises General Authority, known as Monsha'at, has supported around 3,300 fast-growing businesses through its Tomoh program since its launch in 2017, helping 40 companies list on the Kingdom's parallel stock market, a senior official said.
Tomoh is an entrepreneurial ecosystem that provides specialized services and programs in partnership with local and international organizations, enabling high-growth companies to access three core pillars: knowledge, markets, and financing, according to Mashhor Al-Sakkaf, business growth team leader at the program.
Tomoh-supported companies generate $10.1bn in revenue
Speaking during a workshop on the journey of high-growth enterprises with Tomoh at the Jeddah Chamber, Al-Sakkaf said companies participating in the program generated more than SR38 billion ($10.1 billion) in revenue, representing 19 percent year-on-year growth.
He added that companies listed on Saudi Arabia's parallel stock market, Nomu, have reached a combined market capitalization of more than SR22 billion and have attracted over SR5 billion in investments.
