CSR
INTRODUCTION
Corporate Social Responsibility at OMIFCO is a business management mechanism and a vehicle to engage the company and its employees with the community and collectively determine the social-economic and environmental priorities in the community in line with the company's objectives.
In order to ensure sustainability is core to our business strategy, OMIFCO has begun the process of adopting sustainability management that integrates management of economic, environmental and social performance, with the aim of delivering value for all our stakeholders, i.e. government, shareholders/customers, employees, local community, partners and suppliers, and the environment
CSR Strategy
OMIFCO's community investments strategy ensures that OMIFCO's financial, in-kind, and human resources are strategically utilized to maximize benefits for the community. OMIFCO is looking to leverage its various resources and competencies in order to effectively support projects and initiatives that have a long-term and sustainable impact on the community. OMIFCO has identified 4 Priority Areas of Investment.
Quality of Life Enhancement
Cultural, Heritage & Quality of Life Programs
In this area, OMIFCO will support projects which will benefit the most people in the community, addresses key issues in the community, have the potential to generate measurable results, and which are not solely dependent on OMIFCO's support.
Entrepreneurship & SME Development
Entrepreneurship and Micro business Development (Coll Program)
OMIFC0's focus on developing Mcrobusinesses comes in response with the increasing number of youth entering the workforce each year, and the demands on the national economy to create additional opportunities for employment. Therefore, OMIFC0 has developed the CELL PROGRAM initiative, in cooperation with Al Jazeera Technical Solutions LLC & Inspired Solutions Company, to encourage self-employment through supporting entrepreneurship and development of micro businesses. Through the CELL initiative, OMIFC0 will not only provide financial resources and technical and administrative support to aspiring entrepreneurs, but also lead to the creation of several innovative SMEs and additional jobs.
Environmental Stewardship
Environmental Stewardship
OMIFCO has invested heavily in ensuring that its operations have a minimal impact on the environment, and continues to seek ways in which to improve. Furthermore. OMIFCO seeks opportunities to support environmental education. awareness programs, and initiatives which will have a significant impact on lifting up Oman on the intemational ecological footprint measurement.
Education & Workforce Development
Education and Workforce Development
OMIFCO is keen to develop local youth, especially those interested in entering the technical workforce by pursuing a science, technology, or engineering Bachelor or Diploma Degrees, by providing a total of five scholarships each year in one of the leading higher education colleges/ universities in the Sultanate of Oman. The availability of scholarships and the nomination criteria will be announced through the Higher Education Admission Centre (HEAC) on an annual basis.
OMIFCO Entrepreneurship Program
OMIFCO SME Scaling-up Program
(Wasel)
What is Wasel?
Scaling-up to Success (S2S)A program that aims to support Omani owned SMEs with at least 3 years in business to scale up by providing state-of- the art business advisory support to propel them towards greater levels of success and financial stability.
Why Wasel?
If you have survived 3 years in business, you are now facing new set of challenges.- Are your growth requirements exceeding your budget?
- Are you missing out on market opportunities?
- Is your business growing beyond your span of control?
- Is delegation a challenge?
Wasel is designed to address the challenges SMEs face once they have crossed the survival stage and are now looking to scale up by providing technical and financial coaching and training by specialized international experts.
How will Wasel Help me?
Beyond SurvivalSuccessful graduates will gain the following benefits:
- The company will be investment ready.
- The business owners will be capable of making a business pitch to attract debt and/or private equity financing.
- The business owners will have the capabilities to scale up and sustain their businesses through leading business management practices.
- The business owners will understand how to use debt and/or equity financing to support the on-going growth of their companies.
How does Wasel work?
Bringing your forces together to move forward
Is Wasel for me?
Absolutely yes, if you're an SME:- That completed at least 3 years in the same line of business and not more than 6 years,
- Fully owned, managed, and operated by Omanis,
- With minimum of 3 full time employees.
If you meet the above preliminary criteria, you can apply HERE to be considered for the program.
In addition to the above mandatory qualifications, other criteria such as profitability, good financial standing, and business management practices, will be considered when selecting SMEs that will participate in the program.