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Supported by Tamkeen: Procode Secures Angel Investment at LEAP 2025 to Advance Gaming and Esports Development in the Middle East

Procode, a pioneering platform focused on nurturing gaming talent into professional esports players, content creators, and coaches, has successfully secured angel investment during its participation at LEAP 2025—one of the largest global tech events held in Riyadh, Saudi Arabia.
This milestone reflects Procode’s strategic alignment with the rapidly expanding gaming industry in the MENA region, which is now valued in the billions of dollars.
LEAP 2025, renowned for bringing together thousands of entrepreneurs, investors, and tech leaders from around the world, served as a vital platform for showcasing innovation and fostering meaningful partnerships. During the event, Procode attracted investors interest thanks to its compelling vision of establishing a comprehensive esports and gaming ecosystem tailored to the regional market.
This new investment is expected to fast-track the company’s regional growth, beginning with the Kingdom of Saudi Arabia, whose gaming market is forecasted to reach a value of USD 10 billion by 2030.
Procode’s participation in the fourth edition of LEAP was made possible through the support of the Labour Fund (Tamkeen) and the Bahrain Technology Companies Society (BTECH), as part of the Bahrain Pavilion initiative. The pavilion hosted 14 Bahraini startups representing a wide range of emerging technology sectors.
Commenting on the announcement, Mr. Tareq Fakhro, Chairman of BTECH, stated:
“Procode’s achievement in securing the investment reflects the growing confidence in Bahraini startups and their potential to compete at a global level, particularly in the burgeoning gaming industry. It also reaffirms Bahrain’s commitment to nurturing and empowering its tech talent. We look forward to seeing more Bahraini companies expand beyond our borders and establish themselves as regional and international innovators in the digital economy.”
Mrs. shahd alzaki, Co-Founder and Chief Marketing Officer at Procode, remarked:
“Securing angel investment during our participation in LEAP 2025 as part of the Bahrain Pavilion represents a significant milestone for Procode. It demonstrates investors’ belief in our mission to elevate the gaming and esports sector across the Middle East.”
Mrs. alzaki further added, “This funding will enable us to broaden our platform’s reach, explore new market opportunities, engage a wider audience, and build strategic alliances that will shape the future of gaming in the region.”
Established in 2024, Procode is dedicated to cultivating gaming talent by offering regionally tailored training programmes, one-on-one and group coaching sessions, expert mentorship across multiple domains, and access to competitive tournaments. The platform is designed not only to enhance individual gaming skills but also to foster a dynamic and inclusive community that supports players in becoming esports professionals, content creators, and industry leaders. Procode’s vision aligns with the broader transformation of the gaming landscape in the Middle East, positioning it as a key driver of the sector’s future growth.
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BENEFIT AGM approves 10%...
- March 27, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).
Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.
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