Tamkeen’s achievements during the first half of 2017

Manama : Tamkeen was established in order to achieve prosperity in the national economy by strengthening the role of the private sector as the main driver of the economy in the Kingdom, as well as developing Bahraini individuals and helping them to grow, whether they are students, job seekers, or have chosen to have their own business.

Business incubator

Tamkeen has supported entrepreneurs and enterprises in all sectors and in their various stages of growth by providing both financial and advisory support through various programmes. Numbers of enterprises that are in the process of incorporating are 30pc of the total number of enterprises supported by Tamkeen through the Business Development programme in the first half of 2017. 

New Programmes

Tamkeen has introduced a range of programmes aimed at providing enterprises with the opportunity to grow and reach their full potential both at the regional and international levels.

Tamweel +

Launched in the first half of 2017, “Tamweel +” programme offers private sector businesses financing that exceeds one million dinars. This portfolio reached BD120 million by partnering with a group of local banks in the Kingdom

“Taqdeer”

Taqdeer” aims to reward enterprises that exceed their targeted number for their Bahraini employees. 

Developing Bahrainis

Tamkeen has supported more than 8000 Bahranis in the first half of 2017 via the provision of basic skills and professional certificates needed to venture in the labour market and improve in their career.

Business development 

Enterprise Support Programmes supported more than 670 organisations with a total of BD15.5 million.

Manufacturing and Construction Sector programme backed nearly 140 factories and establishments with a total support that reached BD 4.5m. 

Retail and General Trade Sector programme supported nearly 120 enterprises with a total of BD2.3 million, with the sector receiving 15pc of total support in the business development programme.

Services Sector supported 400 enterprises with a value of BD5.5 million, with 44pc of the support provided to Scale-ups & Mature enterprises.

Training and Wage support

“Training and Wage Support” programme backed more than 450 enterprises from different sectors with training and by supporting the wages of 2,700 Bahrainis, including 847 newly graduated employees, with a total value of BD 11.3 million.

Manufacturing: The programme supported approximately 530 employees in the Manufacturing and Construction sector, which accounts for 25pc of the total value of support. Thus, the average wage of beneficiaries in the sector increased by 19pc.

Retail: Approximately 570 employees were supported in Retail and General Trade Sector sector, with the sector’s share of total support reaching 17pc.

Services: 1566 employees benefited from support in the services sector, making the employees support in this sector reach  58pc of the total support provided.

Financing programmes

Tamkeen offers “Tamweel” in cooperation with a group of banks, to develop and support businesses by facilitating Shariah-compliant financing at a competitive rate of profit.

During the first half, Tamweel provided support to more than 250 enterprises in different sectors with loan values of BD 21.3 million. Its portfolio accounted for 78 per cent of the total portfolio value, with over BD407m, in collaboration with local partner banks.

38pc of the enterprises used grants to increase working capital, while 30pc benefited from funds for the development of fixed assets and working capital.

“Tamweel +”

“Tamweel +” programmes offer private sector businesses financing that exceeds one million dinars. This portfolio has reached BD120m by partnering with 6 partner banks with an amount of BD20m for each. The programme provides grants ranging from BD1m to BD2.5m and has a repayment period up to ten years. 13 enterprises have benefited from this programme with a support value exceeding BD28m.

“Riyadat”

The total amount of grants under the Women’s Business Finance Portfolio Programme “Riyadat” exceeded BD 2.4m, which accounts for 33pc of the total value of the portfolio this year. The Retail & General Trade sector accounts for 42pc of the total beneficiaries of the programme.

“Microfinance”

Total support under the Microfinance programme exceeded BD480,000 and the share of women benefiting from this program was 59pc. This support is part of a partnership between Tamkeen and Family Bank to support existing businesses and promote their growth, this program is limited to Bahrainis of low income to be able to establish a small business.

Other projects

Tamkeen is partnering with 3 international business organisations to implement the Business Acceleration programme. As part, Tamkeen has also launched Cloud 10 in partnership with Amazon Global Cloud Systems and C5.

8Business Incubators supported 35 enterprises which includes 25 startup enterprises and 10 existing enterprises. 

8Skills Certification supported more than 3,600 Bahraini individuals with a total support value of BD 2.3 million. Where the percentage of women benefiting from this programme reached to about 70pc.

8Youth Development, Customer Engagement and Community Engagement are some of the other programmes in tamkeen’s portfolio. 

“Our continuous support to the national work force comes from our belief in them and in their capabilities to contribute in the Kingdom’s economical prosperity. Hence, we make it our goal to create new opportunities that make them grow and prosper and take their place in the overall development process to realize the vision of Bahrain 2030.”

- Dr. Ibrahim Mohammed Janahi

Chief Executive Officer Tamkeen Labor Fund