In a ceremony attended by key officials from both organisations, Mobilink Microfinance Bank Limited (MMBL), Pakistan’s largest digital bank, and Teamup, a premier incubation and acceleration platform, inked a Memorandum of Understanding on June 8, 2021.
The MoU was signed by Ghazanfar Azzam, President & CEO of MMBL, and Zouhair Khaliq, co-founder of Teamup, to open doors for collaboration between the two businesses. Both sides expect to benefit from one other’s network of strategic partners and subject matter experts in order to support startup ecosystem growth, innovation, financial inclusion, and digitization.
Both organisations are eager to use their institutional expertise to create financial products targeted to the needs of startups. There will be a particular focus on creating programmes to help women entrepreneurs acquire access to capital and to upskill them so that they can compete with male entrepreneurs. Seminars, workshops, and networking events will be held by both parties to promote the creation of new ventures.
“We are overjoyed to begin this relationship, and the future prospects for our cooperation are promising. Initiatives like these have the potential to transform Pakistan’s entrepreneurial ecosystem, and we are eager to explore new ways for the two sides to collaborate.” — Zouhair Khaliq, Teamup Co-Founder
Through its wide digital financial ecosystem, MMBL is devoted to strengthening the financially underprivileged parts of society, notably SMEs and women-led companies, by providing them with convenient and cheap access to financial services. MMBL is continuing to promote women entrepreneurs through its flagship initiative, Women Inspirational Network (WIN), by expanding the array of its female-centric products.
“With various companies making their mark in a variety of industries, Pakistan’s recent expansion in the entrepreneurial ecosystem has driven economic development and won vital recognition for the country, not only on a national but also worldwide level. We hope to accelerate this growth even more through our partnership with Teamup, which combines capacity building with targeted microfinance products and services to help nascent entrepreneurs, particularly those led by women, become sustainable success stories.” MMBL President and CEO Ghazanfar Azzam
The management of MMBL and Teamup are excited to continue working together and want to keep the momentum going.
