Digital trucking marketplace Trella launches its third market in Pakistan

EGYPT – Trella, a digital trucking marketplace based in Cairo, Egypt has announced its expansion into Pakistan. This marks the third market Trella has launched in since it was founded in February 2019. The expansion into the Pakistani market is a strategic move by the Egypt-based startup, with both countries adopting a similar market structure, showcasing high growth potential for the startup. Trella expansion to the Pakistan market successfully complets its third launch into the MENAP region. The expansion into Pakistan aligns with the startup’s broader strategy to further expand…

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EFG Hermes concludes advisory to UBL Tanzania on the sale of assets and liabilities

TANZANIA – EFG Hermes, the leading financial cooperation in frontier emerging markets (FEM) has announced the successful completion of its advisory services to Pakistan’s United Bank Limited (UBL) on the sale of assets and liabilities of its Tanzania’s subsidiary UBL Tanzania (UBLT) to Exim Bank. EFG Hermes acted as the sole adviser to UBL on the transaction, which is part of the Pakistani bank’s strategy to reposition and realign itself globally, EFG said in a statement. “The transaction is a testament to our ability to successfully conclude cross-border mandates involving…

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IFC Supports US$450m Wind Projects in Pakistan to spur renewable energy and help meet power needs

PAKISTAN — Pakistani nationals are set to start enjoying increased access to cheaper and cleaner electricity. This is after the IFC, a member of the World Bank Group, led the financing of a first-of-its-kind program to build six wind power projects in Pakistan, named the Super Six. The project with a total investment of US$450 million, will help deliver cleaner, cheaper power to meet the country’s critical demand for energy and reduce reliance on expensive imported fossil fuels. As part of the program, IFC is providing a financing package of…

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