Mobilink Bank, a leading digital microfinance bank in Pakistan, has launched the country’s first-ever industry-specific incubation program exclusively for women entrepreneurs. This pioneering initiative, part of the Bank’s ongoing Women Inspirational Network (WIN) program, is designed to empower 25 women entrepreneurs with essential business skills and resources.
The WIN Incubator program aims to equip participants with knowledge in key business areas such as ideation, planning, business management, financial literacy, and marketing. Graduating startups will gain access to a professional network and guaranteed Bint-e-Hawwa loans to support their ventures. Additionally, the most promising startups will compete for a PKR 4 million investment to bring their ideas to life.
Mobilink Bank, part of the VEON group, serves nearly 160 million customers in six dynamic markets worldwide. The Bank’s commitment to women’s economic empowerment through this incubator program marks a significant step towards fostering an inclusive entrepreneurial ecosystem in Pakistan.
Sumera Abbasi, Executive Director of TiE Islamabad and a prominent figure in the Pakistani startup ecosystem, has been appointed to head the WIN Incubator.
Expressing her enthusiasm, Abbasi stated, “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.”
Haaris Mahmood Chaudhary, Interim CEO of Mobilink Bank, highlighted the program’s transformative potential: “Mobilink Bank is transforming the entrepreneurial landscape in Pakistan with our WIN Incubator program. 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.”
Recognizing the untapped potential of women-led SMEs as a catalyst for economic growth, WIN provides a holistic approach to empower them. The program offers tailored financial solutions and skills development opportunities to meet the specific needs of women entrepreneurs. Through targeted workshops and training programs, WIN has equipped over 5,000 women with the necessary knowledge, tools, and confidence to navigate the complexities of the business world.
Mobilink Bank boasts a 25% female loan customer base and has experienced a 38% year-over-year growth in its women’s loan portfolio. Additionally, 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.