Manama / New York – May 4, 2025 – The Bahrain Labour Fund (Tamkeen) and the Mastercard Center for Inclusive Growth have announced a strategic partnership to launch the first Mastercard STRIVE program in the Middle East, aimed at enhancing financial and digital readiness for Small and Medium Enterprises (SMEs) in Bahrain.
This initiative supports Tamkeen’s 2025 strategy to boost Bahraini competitiveness, accelerate digitization and sustainability of enterprises, and strengthen the labor market ecosystem. The collaboration will serve as a scalable model for partnership between Bahrain and Mastercard, reinforcing the Kingdom’s regional leadership in SME development.
STRIVE, already active in several countries, has supported over 12 million small businesses worldwide since 2020 through improved access to capital, digital tools, and knowledge networks. Its introduction in Bahrain marks its first launch in the Middle East, expanding its global reach and regional impact.
HE Shaikh Salman bin Khalifa Al Khalifa, Bahrain’s Minister of Finance and National Economy, emphasized the importance of SMEs during his address at the 2025 Global Inclusive Growth Summit (GIGS), highlighting the role of this partnership in improving productivity through financial and digital innovation.
Shamina Singh, Founder and President of the Mastercard Center for Inclusive Growth, said:
“We believe small businesses drive global economies and community growth. Through STRIVE, we are thrilled to partner with Bahrain and Tamkeen to help Bahraini entrepreneurs thrive in the private sector by building their digital and financial capabilities.”
According to the Bahrain Economic Report 2023, SMEs represent 93% of enterprises, 79% are Bahraini-owned, 40% are owned by women, and 25% are youth-led. These enterprises contributed 10% to national exports and employed over 44,000 Bahrainis in 2023.
Combining Mastercard’s global expertise in inclusive growth with Tamkeen’s local economic leadership, this partnership aims to create a resilient and inclusive ecosystem that enables Bahraini SMEs to flourish in the digital economy and drive long-term prosperity.
