Riyadh: The Small and Medium Enterprises General Authority (Monsha’at) has entered into a memorandum of understanding (MoU) with Safira Events, a renowned global entity in event design and implementation. This agreement was formalized during the Biban Forum 2025, held from November 5 to 8 at the Riyadh Front Exhibition and Conference Center.

According to Saudi Press Agency, the MoU was signed by Monsha’at Director of Innovation Solutions, Ahmed Alshareef, and Folajimi Daodu from Safira Events. The signing ceremony was attended by several representatives from government entities, the private sector, and both local and international investors participating in the forum.

The memorandum is set to enhance cooperation in various areas, particularly focusing on the international expansion program for small and medium enterprises (SMEs). It aims to leverage the African experience in entrepreneurship support, design and implement joint programs for business incubators and accelerators, and launch innovation competitions and challenges. These initiatives are geared towards empowering entrepreneurs to expand and grow on a global scale.