Mobilink Bank Launches Pakistan’s First Women-Led Incubator Program

Islamabad – July 31, 2024: Pakistan’s leading digital microfinance bank, Mobilink Bank strengthens its commitment to women’s economic empowerment with the launch of Pakistan’s first-ever industry-specific incubation program designed exclusively for women entrepreneurs. This initiative falls under the umbrella of the Bank’s ongoing Women Inspirational Network (WIN) program. The WIN Incubator program aims to empower 25 women entrepreneurs by equipping them with knowledge in core business areas including ideation, planning, business management, financial literacy and marketing. The graduating startups will gain access to a professional network and guaranteed Bint-e-Hawwa loans to fuel their ventures. The most promising startups will compete for a PKR 4 million investment to bring their startup ideas to life.

Mobilink Bank is part of the VEON group, a global digital operator that provides converged connectivity and digital services to nearly 160 million customers in six dynamic markets that are home to 7% of world’s population.

Sumera Abbasi, Executive Director of TiE Islamabad and a recognized leader in the Pakistani startup ecosystem, has been appointed to head the WIN incubator.

“Mobilink Bank is transforming the entrepreneurial landscape in Pakistan with our WIN Incubator program,” said Haaris Mahmood Chaudhary, Interim CEO Mobilink Bank. “This initiative is aimed at breaking barriers for small women-owned businesses by providing essential tools and resources. Through mentorship, training, and a supportive network, we wish to empower women to turn their dreams into successful businesses and consequently play an integral role in the country’s economic development. Starting with a cohort of 25, we plan to enable thousands of women entrepreneurs in the coming years.”

Also sharing her thoughts, Sumera Abbasi, Executive Director TiE Islamabad said, “The WIN Incubator is designed to empower women entrepreneurs by providing them with the tools, resources and support needed to succeed. It serves as a launchpad for women to transform their ideas into thriving enterprises. Through comprehensive training, mentorship and access to financial resources with Mobilink Microfinance Bank, we strive to equip the participants with confidence and skills to navigate the business world and drive meaningful economic growth. I am excited to witness the incredible journeys of these 25 talented women entrepreneurs and their impact towards the country’s economy.”

Recognizing the untapped potential of women-led SMEs as a catalyst for economic growth, WIN provides a holistic approach to empower them. The program tailors a suite of financial solutions to address the specific needs of women entrepreneurs by offering vital skills development alongside access to financial resources. Through targeted workshops and training programs, WIN has equipped over 5000 women with the necessary knowledge, tools and confidence to navigate the complexities of the business world. The Bank boasts a 25% female loan customer base, experiencing a 38% year-over-year growth in its women’s loan portfolio. While 22% of the Bank’s total loan portfolio supports agriculture, 16% of agri-business loans are specifically directed towards women-owned ventures. This targeted approach underscores Mobilink Bank’s dedication to fostering a more inclusive economy, where women can flourish as entrepreneurs and contribute meaningfully to national growth.