January 2022 49 www.bahrainthismonth.com business bites Bahrain’s first Business Angels Company, Tenmou, announced plans to support 50 Bahraini SMEs through a partnership with the Centre for International Private Enterprise (CIPE) in the United States, to grow the SMEs sector in Bahrain and increase its contribution to GDP, in line with the government’s recent economic recovery plan. The 18-month project will support the sustainable growth of Bahraini SMEs through the provision of necessary training and related business support services, investor education and preparedness, policy reform to strengthen Bahrain’s entrepreneurship ecosystem particularly around access to finance, and commercial dialogue between the US and Bahrain to expand the utilisation of the US-Bahrain Free Trade Agreement (FTA) and other bilateral business opportunities. Under the patronage and in the presence of the Minister of Labour and Social Development, HE Jameel bin Mohammed Ali Humaidan, US State Department representatives, US Embassy Chargé d’Affaires Margaret Nardi and other embassy officials, and several workers in the field of support SMEs in Bahrain, CEO of Tenmou, Nawaf AlKoheji, signed a cooperation agreement with the President of the Center for International Private Enterprise (CIPE), Abdulwahab Alkebsi. Two cohorts of 25 SMEs (50 in total) will be provided with specialised training and technical assistance, mentorship and coaching, and a platform for peer learning to achieve sustainable growth. 50 BAHRAINI SMES SUPPORTED WITHIN AMERICAN (CIPE) PROJECT The Best International Deal Facilitators for Start-up Exporters was awarded to Export Bahrain as part of the Global Business Outlook Awards 2021, which aims to recognise and reward excellence in businesses worldwide. The award reflects Export Bahrain’s keen efforts to support and enable Bahrainbased SMEs to access new opportunities in global marketplaces. These efforts have resulted in facilitating over USD110 million in export value for Bahrain-based SMEs during the past three years since the inception of Export Bahrain. This has enabled over 27 percent of the targeted category to tap into new markets abroad and encouraged over 12 percent of SME businesses supported by Export Bahrain to export their products and services for the first time. “Export Bahrain is moving forward to achieve its strategic goals of establishing a healthy exporting ecosystem, capitalising on the Kingdom’s unique location that qualifies it to become a premier export zone in the region,” says Export Bahrain Acting Chief Executive, Safa Sharif Abdulkhaliq. The award is the second international accolade received by Export Bahrain this year, as the initiative was named the ‘Best company in accelerating the growth of products and services made in Bahrain’ by the Globe Golden Bridge Awards earlier this year. The Central Bank of Bahrain (CBB) announced that the BHD35 million monthly issue of Government Treasury Bills has been fully subscribed by 100 percent. The bills, carrying a maturity of 182 days, are issued by the CBB, on behalf of the government of Bahrain. The issue date of the bills is December 26 and the maturity date is June 26, 2022. The weighted average rate of interest is 1.67 percent compared to 1.63 percent of the previous issue on November 28. The approximate average price for the issue was 99.164 percent, with the lowest accepted price being 99.147 percent. This is issue No. 1892 (ISIN BH00035W6231) of Government Treasury Bills. With this, the total outstanding value of Government Treasury Bills is BHD2.110 billion. EXPORT BAHRAIN WINS PRESTIGIOUS GLOBAL AWARD CBB’s Monthly Issue of Treasury Bills Fully Subscribed
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