Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Jazz has completed its second unsecured Sukuk issuance, raising Rs15 billion, significantly oversubscribed with 4x demand from the non-bank market. The funds will enhance Jazz’s 4G network expansion, aiming to provide digital services to over 71.5 million customers across Pakistan, reinforcing its commitment to bridging the digital divide.
Jazz has partnered with NUST and NITB to develop Pakistan’s first locally developed Large Language Model (LLM). This initiative aims to create AI solutions tailored to the country’s unique cultural and linguistic diversity, enhancing efficiency for government, businesses, and citizens while promoting digital inclusion across various sectors.
As Pakistan advances in digitalization, the importance of strategic supply chain management grows. Companies are leveraging digital tools and data analytics to enhance efficiency and customer satisfaction. Initiatives in industries like textiles and e-commerce are paving the way for a robust digital economy, fostering innovation and competitiveness.
Pakistan’s fintech industry is experiencing rapid growth, with branchless banking accounts increasing significantly. However, low financial literacy remains a challenge, leaving many vulnerable to fraud. Initiatives like the National Financial Literacy Program aim to address these issues, ensuring that the benefits of fintech are accessible to all citizens.
APNIC is set to launch a training program on networking for telecom operators in Pakistan, following a meeting with Minister of State for IT, Shaza Fatima Khawaja. The initiative aims to enhance capacity building among telecom operators, fostering improved technical skills and operational capabilities within the sector.
Chinese fintech group FinVolution has launched Daira, a new lending platform tailored for the Pakistani market.
PTCL Group’s revenue increased by 15.3% year-on-year, reaching Rs160.6 billion for Q3 2024.
Jazz is set to phase out its 3G services by November 2024, becoming Pakistan’s first telecom operator to do so. This transition is part of the “4G for All” initiative, aimed at enhancing mobile broadband access and improving communication infrastructure to support digital transformation and economic growth in the country.
The Ministry of Information Technology and Telecommunication (MoITT) has launched the Right of Way One-Window Operation to streamline the process of securing NOCs for telecom operators, accelerating fiber optic network deployment and enhancing transparency. This initiative supports Pakistan’s National Fiberization Vision, improving connectivity across the country.
Saleem Ullah, Deputy Governor of the State Bank of Pakistan, highlighted the SBP’s commitment to supporting digital transformation in the financial sector during a ceremony celebrating the 25-year partnership between Innovative Pvt Ltd and Diebold Nixdorf. This collaboration aims to enhance banking innovation and customer experience in Pakistan.