Category: Business

Pakistan (Muhammad Yasir)

Alraedah Digital Solutions, a leading technology company and the
innovation arm of Alraedah Digital Group, is thrilled to announce a
strategic partnership with ABHI, a MENAP-based Fintech specializing in
Earned Wage Access and Invoice Factoring. The collaboration marks a
significant milestone in Alraedah’s commitment to fostering innovation
and driving regional financial inclusion.

Under the terms of the agreement, Alraedah will leverage ABHI’s robust
capabilities to launch a set of innovative financial services in KSA.
The partnership will outline several key provisions which include:

Local Expertise: ABHI will gain access to Alraedah’s expansive
knowledge and understanding of the local Saudi market, to
collaboratively launch innovative financing products in KSA.
Financial Commitment: Alraedah will enable access to $200 million over
the course of three years to develop products that apply ABHI’s
proprietary technology, localized for the Saudi market.

“We are excited to join forces with ABHI to revolutionize the
financial landscape in KSA,” said Paul Melotto, CEO at Alraedah
Digital Solutions. “This partnership underscores our commitment to
fostering innovation and driving economic empowerment through
strategic collaborations. Together, we aim to redefine access to
financial services and empower individuals and businesses across the
region.”

ABHI, founded in 2021, is aimed at increasing financial inclusion
across the region and has been serving Pakistan, UAE, and Bangladesh
through its innovative credit-bridging products. These products
include Earned Wage Access, Invoice Factoring, SME Working Capital &
Revenue Based Financing, and Payroll Solutions, designed to empower
businesses and their employees financially. With a client base of over
1,000 esteemed companies, it actively promotes financial empowerment
and stability to over 750,000 employees across the region and has
processed over $300m in loan value across different geographies. ABHI
is proudly backed by leading investors, including Y Combinator, VEF,
SpeedInvest, Venture Souq, Global Ventures, and Zayn Capital.

“Partnering with Alraedah Digital Solutions represents a
transformative opportunity for ABHI to accelerate our mission of
democratizing access to financial services and supporting the
ambitious goals of Saudi Arabia’s Vision 2030. With our innovative
financial solutions and Alraedah’s deep local expertise, we are poised
to empower Saudi citizens, embolden the private sector, and foster a
more vibrant, thriving economy. This underscores our shared commitment
to driving meaningful economic diversification, financial inclusion,
and entrepreneurial growth, which are the key pillars of the 2030
Vision. Together, we are confident that we can make significant
strides towards realizing the bold aspirations of Saudi Vision 2030
and creating a more prosperous future for all.” said Omair Ansari, CEO
and Co-founder of ABHI.

ABHI’s entry into the KSA market represents a significant step towards
advancing financial inclusion and expanding access to credit for
underserved communities. The partnership between Alraedah Digital
Solutions and ABHI exemplifies the power of collaboration in driving
meaningful change and unlocking new opportunities for growth and
prosperity.

Alraedah Digital Solutions is a leading technology company
headquartered in the Kingdom of Saudi Arabia. With a focus on
innovation and digital transformation, Alraedah empowers businesses
and individuals through cutting-edge solutions in finance, technology,
and beyond.

Pakistan (Muhammad Yasir)

Innovative Pvt Ltd (IPL) and Diebold Nixdorf (DN) are delighted to announce the celebration of their 25-year partnership milestone, marking a quarter-century of collaborative success in revolutionizing the self-service banking landscape.

Since the inception of their partnership in 1999, IPL and DN have embarked on a journey of innovation, growth, and excellence. IPL, the undisputed market leader in Pakistan and trailblazer in self-service banking solutions, has consistently pushed boundaries to deliver cutting-edge solutions to its clientele.

Expressing his gratitude, Mr. Naveed Ali Baig, CEO Innovative Pvt Ltd, said, “It is with immense pride and gratitude that we celebrate 25 years of partnership with Diebold Nixdorf. Our collaboration has been instrumental in shaping the landscape of self-service banking in Pakistan and Afghanistan. DN’s constant support and innovative solutions have enabled us to deliver unparalleled value to our customers.”

DN, a world leader in transforming the way people bank and shop, has provided state-of-the-art products and services, enabling IPL to achieve unprecedented milestones in the industry.

Sharing his thoughts on this significant milestone, Mr. Habib Hanna, Managing Director, Middle East & Turkey, Diebold Nixdorf, said, “The enduring partnership between IPL and DN is a testament to our shared commitment to excellence and innovation. Over the past 25 years, we have witnessed remarkable achievements and overcome challenges together. IPL has consistently demonstrated outstanding performance, selling the highest number of ATMs pan-Pakistan for the past three years. Additionally, their recent recognition with the Best Market Penetration Award further highlights their dedication to delivering exceptional value to their customers. We look forward to continuing our journey of collaboration and driving transformative change in the industry.”

IPL and DN’s partnership has been marked by a relentless pursuit of excellence, a customer-centric approach, and a shared vision for the future of self-service banking. As they commemorate this milestone, both companies remain dedicated to delivering innovative solutions and exceeding customer expectations.

Mashreq and Paysys Labs Partner for Innovative Digital Payment Solutions in Pakistan.

• Set to introduce a digital payment solution, integrating instant payment systems including RAAST, RTGS, to improve payment convenience, reliability and speed for customers.

Pakistan (Muhammad Yasir)  Mashreq Pakistan, a part of Mashreq which is the leading financial institution in the MENA region and Paysys Labs Pvt Ltd, a leading payment technology provider, today announced a strategic partnership to transform Pakistan’s digital payments landscape.

The collaboration aims to develop an innovative digital payment solution integrating real-time payment systems such as RAAST, RTGS, and various other solutions. Paysys Labs, renowned for its expertise in developing innovative payments technologies, will play a pivotal role in assisting Mashreq in enhancing its digital payment offerings and ensuring that its customers enjoy seamless, secure access to an expanded universe of digital banking functionalities and services.

Muhammad Hamayun Sajjad, Chief Executive Officer, Mashreq Pakistan, highlighted the significance of this partnership, stating, “At Mashreq Pakistan, we are committed to support Pakistan’s growth by empowering its people through banking innovation, superior customer experience and financial accessibility for all. We are not just establishing a digital bank, but are here to introduce a comprehensive banking solution that resonates with today’s digital-first world. This partnership is a major milestone on our journey to realize that vision in Pakistan. Collaborating with Paysys, a leader in Pakistan’s vibrant fintech scene, we are poised to deliver a next-generation payment experience that sets new standards for convenience, speed and reliability.”

Karim Jindani, Chief Executive Officer, Paysys Labs, expressed his enthusiasm about the collaboration, stating, “This partnership reflects Paysys Labs’ commitment to innovation and excellence in the fintech sector. We are excited to work with Mashreq to enhance digital payment solutions in Pakistan, ultimately creating a more inclusive and efficient payment ecosystem.”

This innovative partnership aims to enhance digital payment solutions for customers across Pakistan. Mashreq’s customers will enjoy an end-to-end digital onboarding and experience real-time instant payments backed by Paysys’ unified payments platform.

With over 50 years of banking excellence across the Middle East and North Africa, Mashreq is at the forefront of transforming emerging markets through inclusive finance. Mashreq is actively progressing towards acquiring a restricted license from the State Bank of Pakistan to initiate pilot digital retail banking operations in Pakistan.

 

 

 

 

 

Lahore (Muhammad Yasir)

Coca-Cola received Governor’s Appreciation Certificate at a ceremony in Lahore.

This certificate, the highest form of appreciation from the Governor’s office, was awarded in recognition of Coca-Cola’s vision and its innovative approach to adopt principles of sustainability throughout its operations. Director Public Affairs & Stakeholder Management, Dr. Faisal Hashmi received the award on behalf of the company.

The recognition is for the company’s initiatives on environmental and social sustainability as part of its portfolio for Extended Producer Responsibility (EPR), in particular to honor the company being the first to receive rPET approval, Pakistan’s first plastic road initiative that Punjab is adopting and being part of awareness building on plastic circularity.

“This recognition of our role as a thought leader reinforces our commitment to work cross-sectionally and streamline collections, as most of our bottling partner plants are located in Punjab province.,” said Faisal Hashmi. Coca-Cola’s bottling partner, Coca-Cola İçecek a Turkish investor with operations nationwide employing about a million people along the chain.

Coca-Cola has pledged that it to work towards recycling about 6000 MT of plastic in 2024 and is working with the government and packaging alliance, CoRE, to formulate a regulatory path for Recycled Polyethylene Terephthalate (rPET).

This year, Coca-Cola along with its partners, Capital Development Authority (CDA) and National Incubation Center (NIC), will mark the three-year anniversary of the first-ever plastic road of Pakistan. This 1 KM road, thrice as durable, was built in Islamabad under a public-private partnership, using 10,000 tonnes of recyclable plastic and demonstrates scalable ways to reuse un-recyclable plastic.

Karachi (Muhammad Yasir)

The Institute of Chartered Accountants of Pakistan (ICAP) has awarded Ziad Bin Wasim Chowdhrey for professional excellence as the finance leader.

He was presented the Professional Excellence Awards in a graceful ceremony held at PC, Karachi, where 14 industry leaders were awarded in 5 categories.

Nominees were evaluated on the basis of their leadership approach, performance/achievements, innovation, digital journey, enhancement in brand value of organization, contribution to profession, CSR, etc.

Amongst the recipients, Mr. Ziad Bin Wasim Chowdhrey was recognised and awarded for his professional excellence as the finance leader.

Mr. Ziad Chowdhrey is a commercial, entrepreneurial, and results-oriented CFO (also having served as the CEO), with diverse extensive experience in strategic, financial, and operational management, including international experience. He is currently the CFO and director at Novartis Pakistan.

He firmly believes that a true leader’s legacy is not only in their own success but in the leaders they nurture!

In addition to being a member of OICCI’s Taxation Committee, he has twice been nominated by OICCI as the Chamber’s representative to public forums; including the Board of Investment.

Having been certified as a trainer on Corporate Governance Leadership Skills, he is also a faculty member at PICG and conducts trainings for directors & senior management. He frequently spends Saturdays coaching young professionals and is also a motivational speaker, being frequently invited at various forums as a speaker.

Mr. Chowdhrey is also a philanthropist, plays tennis, and is an avid fan of organic farming, film making & photography.

Pakistan (Muhammad Yasir)

realme’s latest release, the Note 50 variant with 4GB RAM and 128GB internal storage, has quickly become a market sensation, boasting overwhelming sales volumes due to its high demand. Released a week before Eid, the smartphone manufacturer witnessed unprecedented demand throughout April as people flocked to purchase the new variant. Priced competitively at PKR 24,999 and backed by an industry-leading 24-month warranty, this model has proven to be an ideal choice for festive gifting, further solidifying its position in the entry-level smartphone segment.

In January 2024, when realme initially launched the Note 50, which featured 4GB of RAM and 64GB of internal storage, it shattered all sales records by selling a phone every 1.5 seconds on its first day. And a part of that success was down to the unprecedented 24-month warranty. Extending the 24-month warranty to the new Note 50 (4+128) variant demonstrates realme’s confidence in their product’s durability and their commitment to consumer satisfaction. This generous warranty provision is a key factor behind the device’s instant success, providing customers with added value and peace of mind.

The realme Note 50 is powered by the robust Unisoc Tiger T612 chipset, ensuring smooth performance across multitasking and casual gaming. It features an octa-core CPU and the Mali G57 GPU, and runs the latest Android 13, offering a clean and efficient user interface with Realme’s UI T. The device supports essential network bands from 2G to 4G LTE.

The phone boasts a 6.74″ IPS LCD display with a resolution of 720 x 1600 pixels, enhanced by a 90Hz refresh rate and a 180Hz touch sampling rate, which guarantees a smooth user experience. Available in Midnight Black and Sky Blue, the realme Note 50 combines style with technology.

For photography enthusiasts, the realme Note 50 offers a dual-camera setup on the rear, including a 13 MP main sensor complemented by a 0.08 MP auxiliary sensor, alongside a 5 MP front camera that caters to selfie lovers and video callers. The longevity of the device is secured by a 5,000 mAh battery that supports 10W fast charging, extending its usability. A side-mounted fingerprint sensor enhances security without sacrificing convenience.

The realme Note 50 (4+128) proves to be more than just a smartphone; it’s a symbol of love and care, enhanced by realme’s commitment to quality and service excellence. The Note 50 series represents more than just a device; it embodies realme’s commitment to democratizing technology, ensuring that premium features are accessible to everyone. As realme consistently challenges the status quo and pushes the boundaries of what’s possible, the future of smartphones is shaping up to be brighter and more inclusive than ever.

 

Karachi (Muhammad Yasir)

Engro, the country’s leading conglomerate, has its eyes set on future growth by exploring global markets and possible deals in Pakistan outside its conventional businesses through a more agile investment approach.

In an exclusive interview with Bloomberg, Abdul Samad Dawood, Vice Chairman at Dawood Hercules Corp. and the sponsor of the group, outlined the global ambitions of Engro Corp through investment deals and a couple of overseas operations in developing countries over the next five years. The process is in early stages and could include taking control of some of the companies. According to him, the investments will be “like a very Berkshire Hathaway-esque sort of an approach.”

“We’re pushing our team that ‘yes, invest in Pakistan, but if we don’t go global now, or make that attempt to go global and go to other countries, when are we gonna do it?” said Dawood. The group will continue to look to home even as it explores opportunities in other regions, Dawood added, with the investment size for deals potentially larger in Pakistan since there are opportunities across multiple industries.

Earlier this week, Dawood Hercules Corporation Limited and Engro Corp announced a realignment of the Group structure, which positions the Group for next phase of growth, backed by capital allocation across wider investment opportunities. 

Under the new framework, DH Corp would be rebranded as Engro Holdings Limited, and Engro Corp would become a wholly-owned subsidiary of Engro Holdings. This exercise would synergize investment efforts at the Engro Holdings level, enabling agile and efficient deployment of capital from Engro Corp to a wider set of opportunities, which is advantageous to shareholders of both companies. This revitalized approach incorporates consistent feedback received over the years from minority shareholders to have a more flexible investment strategy in a wider range of sectors to improve returns.

A report by KASB Securities highlighted that, “The underlying aim is to add agility into the Group’s investment process where on a standalone basis prior to proposed restructuring DAWH/DH Corp has undertaken sector agnostic investments in public equities and ENGRO continued investing in allied industrial verticals. The strategy aims to mitigate economic volatility in the investment process by allowing capital allocation to flow into non-core investment opportunities.”

In a challenging external environment, Engro Corp is poised to maintain its growth momentum with this agile and wider investing approach, added an analyst. 

Pakistan (Muhammad Yasir)

Mastercard has announced strategic enhancements to its leadership roles in the Middle East. The move is part of the company’s efforts to strengthen its regional leadership with a focus on fast-tracking growth, deepening stakeholder engagement and enhancing its focus on its multi-rail capabilities in key markets.

Continuing Mastercard’s successful digital transformation journey, its regional leadership will build on the momentum with a refreshed organizational design. The technology company has optimized its regional network through restructured division operations, combining the power of scale with its deep local market knowledge.

The former MENA East cluster will now make up the East Arabia division, while the MENA Central cluster will form the West Arabia division.

In this context, Mastercard has appointed J.K. Khalil to the new post of Executive Vice President and Division President for East Arabia. The Mastercard veteran will continue to work closely with his team to connect and power more inclusive and sustainable digital economies in each of the division markets where more people can continue to thrive.

Khalil has almost 20 years of experience in banking, strategy consulting and technology and has been at Mastercard for eight years. He started as Middle East Region Lead for Mastercard Advisors in the UAE before transitioning to the position of Country Manager for Saudi Arabia, Bahrain and Levant, and more recently Cluster General Manager for MENA East. Khalil holds an MBA from the University of Chicago Booth School of Business and is the President of its UAE Alumni Club chapter.

“Mastercard has been driving payment innovation and boosting financial inclusion for more than 50 years, and has been active in the Middle East for over 30 years. The creation of the East Arabia division is a clear indication of not only the potential, but also the incredible growth witnessed in what used to be the MENA East cluster. I would like to express my sincere gratitude to our partners, who have been with us on this journey, to the MENA East team for their passion and dedication, and to the Mastercard leadership for recognizing the incredible growth and potential in these strategic markets,” said Khalil.

 Under Khalil’s leadership, Mastercard’s former MENA East cluster has made great strides in advancing digital transformation and building a robust payments ecosystem. He was instrumental in initiating the global long-term collaboration with FAB, the largest bank in the UAE, that will see the two partners drive accelerated growth and innovation in the UAE and scale expansion plans in international markets. Khalil also played a key role in the opening of the Center for Advanced AI and Cyber Technology in Dubai in partnership with the UAE Prime Minister’s Office. Khalil’s latest achievement involves taking Mastercard’s women’s empowerment efforts in Pakistan to the next level with the launch of the Strive Women program in collaboration with CARE International. The initiative seeks to strengthen the financial health and resilience of women-led small businesses in the country.

In addition to Khalil’s new role, Mastercard has appointed Adam Jones to lead its West Arabia division.

 As part of Mastercard’s One Africa Strategy, the company’s Northwest Africa markets have been consolidated into the expanded Africa division under the leadership of Mark Elliott.

Alibaba.com and TDAP Bolster Pakistani Exporters with Introduction of Training Initiatives and New Intelligent Tool Suite.

Lahore (Muhammad Yasir) Alibaba.com, a leading platform for global business-to-business (B2B) e-commerce, and the Trade Development Authority of Pakistan (TDAP) today announced a series of training programs designed to equip Pakistani businesses, particularly small and medium-sized exporters, with essential knowledge, tools and methodologies to achieve success in the global market. In conjunction with this announcement, Alibaba.com has unveiled its intelligent tool suite, Smart Assistant, as its latest offering to help boost the international trade capacity of Pakistani exporters operating on its platform.

The announcement was made at the 2024 Global B2B Digital Export Summit, held under the theme “Smart Up Your Trade, Leading Your Way” on May 8, 2024, at the Pearl Continental Hotel, Lahore. The summit featured a host of B2B e-commerce and export experts, including Shahzad Ahmed Khan, Director General of the Trade Development Authority of Pakistan (TDAP) and Rocky Lu, Head of Pakistan Business at Alibaba.com, alongside other guests such as Kashif Anwar, President of the Lahore Chamber of Commerce and Industry (LCCI), Adil Mukhtar, Assistant Director at TDAP, Berry Ma, Marketing Director of Southeast Asia at Alibaba.com.

Commenting on the collaboration, Shahzad Ahmed Khan, Director General at TDAP, stated, “Our joint effort with Alibaba.com to plan a series of training programs is a significant move towards the digital empowerment of Pakistani SMEs. By combining our resources, we are equipping local businesses with advanced B2B e-commerce skills and strategic vision for their success on the global stage. Together, we’re fostering an environment conducive to innovation, sustainability and success.”

Affirming the commitment to digital advancement, Rocky Lu, Head of Pakistan Business at Alibaba.com, remarked, “In today’s fiercely competitive global marketplace, digital transformation is not just desirable, but essential for SMEs. Our joint training programs with TDAP are crafted to hone the global trading capabilities and acumen of Pakistani SMEs. Additionally, the introduction of our intelligent tool suite, Smart Assistant, is set to complement these training efforts by providing suppliers operating on our platform with smart e-commerce tools aimed at refining business operations and communications, as well as offering valuable insights into prevailing market trends for informed decision-making. We believe these initiatives will not only bolster competitiveness but also pave the way for broader growth in the global e-commerce sector.”

Alibaba.com’s Smart Assistant offers various advanced features that elevate the performance and competitiveness of SMEs in the export market, including:

* Product listing optimization: Suggests attractive titles, keywords, descriptions, and professional images and videos for products.

* Smart chatbot: Assists businesses in communicating with international customers, automatically and swiftly replying request-for-quotation (RFQ) messages, and editing texts in a professional style.

* Specialist knowledge: Offers accurate and in-depth market information, tailored to each specific product category and based on Alibaba.com’s extensive database and 24 years of experience, for informed decision-making.

 

JNM Leather Safety Gloves Industries has seen significant improvements in operational efficiency and garnered useful market insights since adopting Smart Assistant as a pilot user. The company joined Alibaba.com in 2014 and now achieves annual revenues surpassing US$1.5 million.

“We’ve seen remarkable enhancements in our operations since incorporating Smart Assistant,” shared Muzaffar Hussain, Head of Overseas Marketing at JNM Leather Safety Gloves Industries. “It has streamlined our business processes and provided sharp analyses of customer trends, enabling us to better anticipate and meet market demands.”

Alibaba.com is now offering a limited-time free trial of the Smart Assistant tool suite to all Pakistani suppliers on its platform. For more information, please visit: https://pakistan.alibaba.com/

 

Karachi (Muhammad Yasir)

Synergy Group, the biggest integrated marketing communication conglomerate in the country, claims another victory in a string of wins at the prestigious Effie Awards Pakistan. The group’s agencies, Synergy Advertising and Synite Digital, have bagged multiple accolades, reaffirming their commitment to excellence and creativity in the marketing, communication and advertising landscape.

Synergy Advertising, renowned for its strategic acumen and creativity, emerged as a dominant force yet again at the Effie Awards Pakistan, securing four wins.

It took home one silver for the campaign Asaan Mobile Account – Apka Account, Apka Ikhtiyar for State Bank of Pakistan in category ‘New Product or Service’ and three bronze for campaigns: Polio Outbreak for Pakistan Polio Eradication Programme in category ‘Non Profit’; Asaan Mobile Account for State Bank of Pakistan in category ‘Finance’; and Asaan Mobile Account – Apka Account, Apka Ikhtiyar for State Bank of Pakistan in category ‘Marketing Innovative Solutions’.

The agency’s campaigns exemplify a keen understanding of client objectives and consumer insights, driving tangible results and setting new benchmarks for marketing effectiveness.

Meanwhile, Synite Digital, one of the industry leaders in digital marketing and innovation, showcased its prowess with two impressive silver wins for its campaigns: SC – Women In Tech for Standard Chartered Bank in category ‘Sustained Success’ and Who Fried It Best for KFC in category ‘Restaurants’.

Synite Digital is renowned for its imaginative campaigns that resonate well with audiences and drive meaningful engagement. The agency’s ability to leverage digital platforms for social impact and brand-building garnered widespread acclaim and appreciation at the Effie Awards Pakistan.

Commenting on the Effie Awards wins, Ahmed Kapadia, Chairman & CEO of Synergy Group, stated: “We are committed to pushing the boundaries of creativity, innovation, and effectiveness in marketing. The success of Synergy Advertising and Synite Digital at the Effie Awards 2024 is a testament to our dedication to delivering results-driven solutions for our clients. We would like to take this opportunity to reiterate our commitment to driving impactful outcomes and to thank all the partners who put their trust in us, allowing us to create award-winning campaigns.”

Winning Effies this year again are a reflection of Synergy Group’s robust growth culture and the winning mindset which has made it stand out among its competitors. It has also reinforced its position as a thought-leader in the marketing and digital realm, setting new standards of excellence and innovation.