This year has brought many successes for businesses coming to the Kingdom with the support of Team Bahrain. Following strong momentum in Q2, it has been another successful quarter for organisations in industries ranging from financial services to manufacturing. Find out more about some of Team Bahrain’s success stories below:
The Middle East’s leading insurance comparison site Souqalmal, which offers quotes on car, health, travel and home policies, has secured an e-broker license and is set to launch in the Kingdom after securing permissions from the Central Bank of Bahrain. The Dubai-based company, backed by GoCompare, has been voted the second most disruptive FinTech startup in the UAE by Forbes and also won online business of the year at the Gulf Capital Awards.
Headquartered in China, this AI-powered Arab content platform enhances user experience and deepens localised content recommendations across a portfolio that includes group voice chat rooms, games and an e-commerce platform. With Wonder News’ top-rated apps achieving 5.5x user growth from 8.7m to 48m in just eight months, Soft Bank China Capital Company recently invested $20 million to support an expansion in MENA using Bahrain as a hub.
A subsidiary of Akbar Group, one of the top travel agencies in India, Benzy Infotech offers IT services to the industry globally. As part of a major Middle East expansion, the company has opened several offices, including three in Saudi Arabia and four in Oman, and is in the process of expanding into Bahrain with the support of EDB as well as Kuwait.
Asia’s largest logistics 3PL provider, with a fleet of more than 10,000 self-owned vehicles and 700 service locations, expanded its network during the quarter by setting up a presence in Bahrain. With the Kingdom as a regional hub, the company is offering sea freight, air freight and general trade services, with a focus on the Bahraini and Saudi markets.
Building upon a 25-year history, Jamal Showaiter Sweets is establishing a new $8 million factory in BIIP with 40 new jobs. This will drive the international distribution of Bahraini halwa and other traditional foods. With the new factory, the company will have direct control over the entire value chain and will undergo international standard certifications in food production and environmental management.