The Mastercard Center for Inclusive Growth and RISE announce significant progress of their joint wage digitalization project in Egypt, which aims to enhance financial inclusion and resilience among garment workers.

The acquisition will support Tamweely’s domestic growth strategy and boost its competitiveness and resilience, enabling it to become one of the country’s leading microfinance providers.

The initiative aims to raise awareness among young people about digital literacy, enhance digital financial inclusion, and encourage youth to join the financial sector and benefit from banking products and services. 

Mobilink Bank is actively promoting climate finance in Pakistan, enabling individual borrowers and SMEs to access financing for solar energy products.

This concern is not new; the microfinance sector has been grappling with severe challenges for a couple of years. 

Advans Pakistan Microfinance Bank Limited, the target of the acquisition, represents the Pakistani branch of the renowned Advans Group, a leading international microfinance group with operations spanning nine developing countries.

Through the partnership, the two entities will provide small businesses in South Africa, Nigeria, Kenya, and Egypt with an online platform, powered by SAVA’s Payment Transaction System, that includes digital bank accounts and accounting integration tools.

Ericsson and Telenor Microfinance Bank have signed a multi-year extension of their partnership to propel easypaisa’s financial services offerings and expand the horizon of their service portfolio within the fintech sector in Pakistan.

The awardees include HugoBank Limited, KT Bank Pakistan Limited, Mashreq Bank Pakistan Limited, Raqami Islamic Digital Bank Limited and Telenor Microfinance Bank Limited.

President, Dr. Arif Alvi urged the banking institutions to take measures to further strengthen financial inclusion and gender equality in the sector.