Nuqul Group hosts companies to boost microfundsUpon the successful implementation of Nuqul Group’s “Invest in Micro” Fund in Al Koura District and building on the success of its partnership with Shabakat Al Ordon, Nuqul Group hosted a number of private sector companies who committed to replicate the “Invest in Micro” proven model across different poverty pockets in Jordan. During the event, Ghassan Nuqul, vice chairman of Nuqul Group, Samih Toukan and Hussam Khoury, founders of Jabbar Internet Group, Amjad Aryan, CEO of Pharmacy One, Maher Kaddoura, founder of Al Jude, Fadi Ghandour, founder and CEO of Aramex; each committed to establish an “Invest in Micro” Fund; thus totalling 7 funds in 2010.To establish a fund, partners commit amounts ranging between JD10,000 and 150,000. Then Shabakat Al Ordon builds the capacity of local community members allowing them to pitch their ideas to the fund’s investment committee. Upon listening to the ideas, partners decide to invest amounts between JD 1,000 to 3,000 per micro-venture, following which each venture will be incubated and mentored in a model that ensures those ventures start producing and selling in six months.
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