Strategic partnerships enable a fast track to procurement order financing through an automated platform.
Abu Dhabi National Oil Company (ADNOC) has signed a strategic cooperation agreement with Comera Financial Holdings to enhance ADNOC’s financing channels for SMEs and suppliers within the UAE. This collaboration will launch a financing program to help SMEs and suppliers access working capital more efficiently, thereby accelerating the fulfillment of ADNOC’s procurement orders.
This initiative will enhance the liquidity of suppliers and SMEs, while assisting them in achieving scalable operations and sustainable growth. This collaboration further solidifies ADNOC’s commitment to supporting local businesses and driving economic diversification in the UAE, helping SMEs thrive and enhance their global competitiveness by providing practical solutions.
Khaled Al Zaabi, CFO of ADNOC Group, said, “The collaboration between ADNOC and Comera Financial Holdings will provide best-in-class financing solutions to help our UAE suppliers and SMEs convert purchase orders into immediate cash, thereby freeing up working capital. This will enhance liquidity and flexibility, while accelerating business growth and fully demonstrating ADNOC’s commitment to driving economic diversification by supporting the SME ecosystem, strengthening the resilience of local supply chains, and creating greater domestic value for the UAE.”
As part of the agreement, ADNOC and Comera Financial Holdings will create a smart automation platform to connect SMEs and suppliers that have ADNOC contracts directly with lending institutions.
Akhtar Saeed Hashmi, Managing Director and Group CEO of Comera Financial Holdings, said: “Our partnership with ADNOC marks a historic leap forward in supply chain finance in the region. As a member of the Abu Dhabi Royal Group, Comera Money possesses the strength, scale, and vision to deliver world-class financial innovation. By providing financial support to the community, we are creating more opportunities for suppliers to deliver faster, grow stronger, and innovate boldly. Together with ADNOC, we are committed to building an enabling model that will set a new benchmark for supply chain finance, not only in the UAE but also in global markets.”
The collaboration between ADNOC and Comera Financial Holdings will support industrial and economic growth in the UAE and contribute to ADNOC’s Domestic Value (ICV) initiative, which continues to drive local manufacturing growth, create jobs, and enhance the competitiveness of the private sector.