MMBL to provide affordable financing solutions for Renewable Energy
Signed MoU with Rahim & Sons and K&S
Islamabad : Mobilink Microfinance Bank Limited (MMBL) has entered a strategic partnership with Rahim & Sons Enterprises, a leading integrated engineering service provider as well as K&S Solar Energy, a reputable alternative energy solutions provider. Through this alliance, MMBL strives to promote the accessibility and affordability of green energy for its customers and contribute to the growth of the renewable energy sector by offering easy financing solutions. This collaboration is a testament to MMBL’s commitment to providing innovative financing solutions to meet the evolving needs of its growing customer base.
MMBL is part of the VEON group, a global digital operator that provides converged connectivity and online services across seven countries. As part of its digital operator strategy, VEON is transforming people’s lives by creating opportunities for increased digital inclusion and by driving economic growth across countries that are home to more than 8% of the world’s population.
By harnessing the robust nationwide presence of Rahim & Sons and K&S, MMBL will be able to expand its reach and assist remote populations to access affordable and adaptable payment plans. This will enable rural Micro, Small, and Medium Enterprises (MSMEs) as well as small-scale farmers to easily install solar panels in their spaces, facilitating their transition to clean energy and helping them manage rising electricity bills and power outages. In addition, low-income farmers will be able to install tube wells in remote locations where power supply is not easily available, promoting agricultural growth in these areas.
The partnership not only provides flexible payment plans to customers but also ensures accessibility to solar energy benefits at an affordable cost, which effectively champions the use of renewable energy, thus promoting sustainable development. As part of its unwavering commitment to promoting sustainable development and staff support, MMBL extends a special offer to its employees, entitling them to a 10% discount on the installation cost.
“This strategic partnership is in line with MMBL’s unyielding promise to promote sustainable energy and empower small businesses by providing them with reliable & cost-effective financing solutions,” said Ghazanfar Azzam, President and CEO MMBL. “This collaboration serves as an excellent example of how businesses can prioritize sustainability as a core value and work towards a progressive future. We believe that this partnership will inspire other businesses to follow suit and contribute towards creating a more environmentally conscious world,” he added.
By aligning its business philosophy with the United Nations’ Sustainable Development Goals (UNSDGs) 2030, MMBL is dedicated to building a better future for generations to come. The Bank recognizes the urgency of acting toward achieving the UNSDGs and is committed to making a significant contribution to this global agenda. With a focus on creating a positive impact, MMBL offers innovative and sustainable financial solutions that address significant issues such as poverty, gender inequality, and climate change and is determined to set an example of responsible banking practices.