Tamkeen, an initiative aimed at empowering Bahrain's workforce and supporting the growth of the private sector, has long been at the forefront of initiatives designed to build sustainable economic growth. The collaboration with Mastercard is a strategic step to expand Tamkeen's existing efforts by integrating advanced financial solutions and digital literacy to help SMEs thrive in a rapidly evolving marketplace.
Mastercard's Centre for Inclusive Growth has a track record of working on global projects that focus on fostering inclusive economic development through financial literacy, digital tools, and access to capital. By combining these efforts with Tamkeen’s local knowledge and expertise in the Bahraini market, the initiative is expected to provide significant benefits to SMEs by creating an environment where they can grow, innovate, and contribute to the national economy.
The collaboration will focus on enhancing digital capabilities for SMEs, equipping them with the tools to expand their online presence, optimise operations, and increase customer reach. These efforts are in line with Bahrain’s broader goals to diversify its economy, reduce reliance on oil revenues, and strengthen the role of SMEs in driving growth.
Through the partnership, various projects will be rolled out, including those aimed at increasing digital literacy and providing SMEs with access to financial products that suit their needs. Special attention will be given to helping businesses transition to digital platforms, which is seen as a key factor in ensuring their competitiveness in the modern economy. This push for digital transformation comes at a time when global business trends are heavily focused on online engagement and e-commerce, making it essential for SMEs to embrace these changes to stay relevant.
In addition to providing SMEs with the tools they need to embrace digitalisation, the partnership also aims to raise awareness about the importance of financial inclusion. By ensuring that SMEs have access to a broader range of financial services, the collaboration hopes to level the playing field, giving smaller businesses the same access to capital and financial tools as larger corporations. This could lead to greater job creation, higher productivity, and enhanced innovation within Bahrain’s economy.
A central aspect of the initiative will involve the development of workshops, training programmes, and resource platforms for SMEs. These efforts are designed to assist business owners in navigating the complexities of financial and digital ecosystems, which can be challenging for smaller, less resourced companies. The workshops will focus on a variety of topics, such as online payment solutions, cyber security, data privacy, and financial management, providing SMEs with practical skills to enhance their operations.
As the partnership moves forward, it will also foster closer collaboration between the public and private sectors, encouraging more inclusive policymaking that addresses the unique challenges faced by SMEs. The initiative aligns with the broader goals of Bahrain’s Economic Vision 2030, which aims to create a sustainable, diversified economy that encourages innovation and competitiveness while reducing dependency on oil revenues.
The collaboration comes at a time when SMEs globally are under increasing pressure to adapt to changing market conditions, including the rapid shift towards e-commerce, digital payments, and data-driven decision-making. By focusing on digital readiness, Mastercard and Tamkeen are not only helping SMEs survive but also thrive in a digital-first world. This strategic partnership reflects the growing recognition of the crucial role SMEs play in economic development, particularly in the context of diversification efforts in regions like Bahrain.
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Bahrain