• Legacy
  • Academy
  • Business
  • PayTech
  • Ignite
  • Cellcos
  • Wired
  • CovidTech
  • Library
  • Touch Base
Subscribe
CW Pakistan

Computerworld Pakistan

CW Pakistan
  • Legacy
  • Academy
  • Business
  • PayTech
  • Ignite
  • Cellcos
  • Wired
  • CovidTech
  • Library
  • Touch Base
  • Computerworld

UK-funded Karandaaz Investments Expected to Generate 900+ jobs

  • June 1, 2018
  • Content Desk
Total
0
Shares
0
0
0

PR: The UK-funded Karandaaz will triple the impact of a leading health diagnostic service provider and set up a unique warehouse for agricultural produce in Punjab. These two investments are expected to create more than 900 new jobs in Pakistan. This was announced today at the signing of two new equity investment deals in Islamabad.

The first deal was signed with Excel Labs and will help Excel Labs network expand its service by three times and provide easy access to world-class diagnostic services for millions of Pakistanis.

The second deal was signed with an innovative entrant in agriculture sector. Through this investment, Punjab will have its first state-of-the-art controlled atmosphere warehouse, benefitting the farmers through better off-season prices and reducing post-harvest losses in agriculture value chains.

Read: FINCA Microfinance Bank Pledges for Women Empowerment

Karandaaz’s latest equity investments will allow both these high-growth businesses to expand their operations and create more jobs, and economic activity in the health and agriculture sectors. These equity investments are collectively expected to result in almost 900 new jobs out of which 200 will be for women and more than half will be for youth. These investments will also catalyze growth in these two high-potential sectors, generating further benefits at the macro level.

Navid Goraya, Chief Investment Officer Karandaaz Pakistan added,

“The investment in Excel Labs network will enable it to increase its capacity and preform several million additional tests across the country. The diagnostic labs will also have three times greater geographic coverage through new lab collection points in Punjab, Khyber Pakhtunkhwa, and AJK.

Similarly, our investment in a controlled atmosphere warehouse will strengthen a market leader and an innovator in agriculture. Increase in the capacity of this innovative establishment will lead to farmers’ ability to increase longevity of their produce and reduce wastage.”

Talking about the significance of these investments, CEO Karandaaz Pakistan, Ali Sarfraz said,

“The focus of Karandaaz’s investments is on deploying growth capital in businesses with potential for profitable growth and employment generation, in addition to generating risk-adjusted financial returns for Karandaaz. We are mainly focusing on investments that have a demonstration effect and support the development of a market for SME financing.”

Speaking about the investments, DFID Pakistan Head Joanna Reid said;

“The census results tell us that Pakistan’s economy needs to grow even faster, and Small and Medium Enterprises should be the engine of that growth.  DFID created Karandaaz to fill a gap in the financing market for SMEs and to demonstrate that while investing in Pakistani companies makes business sense, it can make development sense too.

Today’s deals will create 900 new jobs and support important services – such as a tripling of the coverage of Excel Lab’s medical diagnostic tests. We are proud to help the people of Pakistan to develop their economy. And we hope that Karandaaz’s success will inspire others to invest in the entrepreneurs that are driving Pakistan’s growth.”

Karandaaz Pakistan promotes access to finance for micro, small, and medium -sized businesses through commercially directed investments and financial inclusion for individuals through promotion of digital financial services. It also develops and disseminates evidence based insights, and encourages innovation in financial space. Karandaaz has financial and institutional support from the United Kingdom’s Department for International Development (DFID) and the Bill & Melinda Gates Foundation.

 

Total
0
Shares
Share 0
Tweet 0
Pin it 0
Content Desk

Previous Article
  • Technology

Vivo Offers Super Discount on Y53

  • June 1, 2018
  • Content Desk
View Post
Next Article
  • Technology

OPPO F7 Youth Promises Beauty Technology

  • June 3, 2018
  • Content Desk
View Post
You May Also Like
View Post
  • Computerworld
  • Ignite

The government plans to build a software technology park in Bannu.

  • Sub Editor
  • April 15, 2022
View Post
  • Computerworld
  • Ignite

The economy is booming: Bags from Pakistan Top ten rankings in terms of improving the business climate

  • Sub Editor
  • April 15, 2022
View Post
  • Computerworld
  • DEMO PAKISTAN
  • Ignite
  • Technology

Shibli Faraz reports on PSQCA’s plans to launch an automated system to speed up the standardisation process.

  • Sub Editor
  • April 15, 2022
View Post
  • Computerworld
  • DEMO PAKISTAN
  • Ignite
  • Technology

Teachers in Punjab now have access to an electronic transfer system.

  • Sub Editor
  • April 15, 2022
View Post
  • Computerworld
  • DEMO PAKISTAN
  • Ignite
  • Technology

The Board of Investment has launched an online portal for Special Economic Zones.

  • Sub Editor
  • April 15, 2022
View Post
  • Computerworld
  • DEMO PAKISTAN
  • Ignite

Shafqat Mahmood, Minister of Education, Launches IBCC E-Portal And Mobile App For Education Sector

  • Sub Editor
  • April 15, 2022
View Post
  • Computerworld
  • DEMO PAKISTAN
  • Ignite
  • Technology

SBP Simplifies the Process of Increasing Overseas Investment for Startups

  • Sub Editor
  • April 15, 2022
View Post
  • Computerworld
  • DEMO PAKISTAN
  • Ignite
  • Technology

PTCL and GCU have signed an agreement to provide premium ICT services.

  • Sub Editor
  • April 15, 2022
View Post
  • Computerworld
  • DEMO PAKISTAN
  • Ignite
  • Technology

Quetta will get its first and largest software technology park after a memorandum of understanding is inked.

  • Sub Editor
  • April 15, 2022
View Post
  • CIO
  • Computerworld
  • DEMO PAKISTAN
  • Ignite
  • Technology

Punjab’s Minister of Higher Education and Information Technology officially launches e-Earn, the province’s largest co-working network.

  • Sub Editor
  • April 15, 2022
View Post
  • Computerworld
  • DEMO PAKISTAN
  • Ignite
  • Technology

Punjab’s Minister of Higher Education and Information Technology officially launches e-Earn, the province’s largest co-working network.

  • Sub Editor
  • April 15, 2022
View Post
  • Computerworld
  • DEMO PAKISTAN
  • Ignite
  • Technology

Pakistan is one of 15 countries where e-waste poses a serious health risk, according to the United Nations.

  • Sub Editor
  • April 15, 2022
View Post
  • Computerworld
  • DEMO PAKISTAN
  • Ignite

Pakistan’s NFT Revolution is led by Wasim Akram.

  • Sub Editor
  • April 15, 2022
View Post
  • Computerworld
  • DEMO PAKISTAN
  • Ignite
  • Technology

Pakistani scientists have been praised for developing the ZECC technology for storing fruits and vegetables

  • Sub Editor
  • April 15, 2022
View Post
  • Computerworld
  • DEMO PAKISTAN
  • Ignite

Pakistan’s e-Learning portal, Skills Todo, is still in second place.

  • Sub Editor
  • April 15, 2022
View Post
  • Computerworld
  • DEMO PAKISTAN
  • Ignite
  • Technology

Pakistan has over 40 fintech companies, according to a report.

  • Sub Editor
  • April 15, 2022
View Post
  • Computerworld
  • DEMO PAKISTAN
  • Ignite
  • Technology

PSEB will create an office in Quetta to help the IT sector in Balochistan grow

  • Sub Editor
  • April 15, 2022
View Post
  • Computerworld
  • DEMO PAKISTAN
  • Ignite
  • News
  • Technology

Pakistan’s own encrypted messaging software is 60% complete, according to a report.

  • Sub Editor
  • April 15, 2022
View Post
  • Computerworld
  • DEMO PAKISTAN
  • Ignite
  • Partnerships
  • Technology

LUMS collaborates with Northumbria University and leading UK scientists to create long-term solutions.

  • Sub Editor
  • April 15, 2022
View Post
  • Computerworld
  • DEMO PAKISTAN
  • Ignite
  • Technology

NXT from NETSOL creates a 3D model of Pakistan.

  • Sub Editor
  • April 15, 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

about
About
Launched in 1967 internationally, Computerworld Magazine is the oldest tech magazine/media property brand in the world. Today Computerworld (abbreviated as CW) is an ongoing decades old professional publication which in 2014 "went digital”. In Pakistan Computerworld was launched in 1995. Initially providing news to IT executives only, once CIO Pakistan from the same family launched, and took over the domain, CW Pakistan has slowly emerged as a holistic technology news platform reporting everything tech in the country. It remains the oldest running continuous IT media publishing platform in the country and approaching 3 decades of existence, it has been the industry’s biggest benchmark and hopes to continue for years to come.
Read more
Explore Computerworld Sites Globally
  • ComputerWorld.es
  • computerworld.com.pt
  • Computerworld.com
  • cw.no
  • computerworldmexico.com.mx
  • computerwoche.de
  • computersweden.idg.se
  • computerworld.hu
  • cwi.it
  • project.nikkeibp.co.jp
Content from other IDG brands
  • PCWorld
  • Macworld
  • Infoworld
  • TechHive
  • GameStar
  • Network world
CW Pakistan
  • CWPK
  • CXO
  • WALLET
  • Demo
CW Media & all its sub brands are copyrighted to SPIN-IDG Wakhan Media Inc., the publishing arm of NCC-RP Group. Site is designed by Crunch Collective ©️ 2022

Input your search keywords and press Enter.