In a significant move to bolster the local business ecosystem, the Bahrain Labour Fund (Tamkeen) has announced a new partnership with the Mastercard Center for Inclusive Growth to launch the Mastercard Strive Program in the Kingdom. The collaboration was unveiled on the sidelines of the Gateway Gulf Investment Forum, signaling a major commitment to empowering Bahrain’s small and medium-sized enterprises (SMEs).
A Strategic Push for Digital Transformation
This partnership is designed to equip Bahraini SMEs with the critical tools and resources needed to enhance their financial and digital readiness. The core objective is to help these businesses improve operational efficiency, adopt new technologies, and expand into new markets, thereby ensuring long-term sustainability and growth.
The initiative directly supports Tamkeen’s strategic priorities for 2025, which include strengthening the competitiveness of Bahrainis in the private sector, upskilling the local workforce, and championing enterprise growth through digitization and sustainable practices.
Executive Insights on Empowering the SME Backbone
Ms. Maha Abdulhameed Mofeez, Chief Executive of Tamkeen, highlighted the program’s alignment with national economic goals. “This collaboration comes as part of our ongoing efforts to support the ecosystem of small and medium enterprises, which serves as a key pillar of the national economy and plays a vital role in creating quality employment opportunities for Bahraini talent,” she stated. “Through the launch of the first-of-its-kind Mastercard Strive program in the region, we aim to provide more tailored solutions designed to meet the specific needs of these enterprises.”
Saud Swar, Senior Vice President and Country Manager for Mastercard in the region, emphasized the power of digital solutions in driving SME success. “This partnership highlights the importance of leveraging innovative financial and digital solutions to empower SMEs across various sectors. We have seen great success with Mastercard Strive in other markets, and alongside Tamkeen and the Kingdom of Bahrain, we look forward to helping enhance operational efficiency and productivity for Bahraini small businesses.”
Strive’s Global Impact Reaches Bahrain
Launched in 2020, the Mastercard Strive program has demonstrated significant global reach and impact. As of 2024, the initiative has successfully provided millions of small businesses worldwide with access to vital digital solutions, capital, networks, and industry expertise. The program has reached over 19 million micro, small, and medium-sized enterprises globally, and its introduction to Bahrain marks a key milestone for the region’s entrepreneurial landscape.
About Tamkeen
Tamkeen, also known as the Bahrain Labour Fund, is a public authority in the Kingdom of Bahrain tasked with making the private sector the engine of economic growth. Its primary objectives are to support Bahrainis to become the employees of choice and to support high-potential enterprises, fostering a competitive and sustainable national economy.
About Mastercard Strive
Mastercard Strive is a global portfolio of philanthropic programs by the Mastercard Center for Inclusive Growth aimed at helping small businesses thrive in the digital economy. The program provides access to digital tools, financial products, and essential resources to strengthen the resilience and growth of micro, small, and medium-sized enterprises around the world.
Source: BizBahrain
