A groundbreaking PKR 10 billion partnership between U Microfinance Bank and Digitt+, a pioneer in agri-fintech, has been announced. This agreement establishes a new benchmark for financial cooperation in the agriculture industry. By combining U Bank’s significant lending experience with Digitt+’s cutting-edge in-house payment rails, our partnership ushers in a new era of financial solutions specifically designed for Pakistani farmers.
Under the partnership, farmers in Kanjwani, Muzaffargarh, and DI Khan would benefit from more efficient financial transactions; so far, both banks have disbursed PKR 500 million. Faster financial transactions are made possible by this programme, which also gives farmers timely access to resources they need, increasing their output and stability.
“This partnership is a testament to how fintech and traditional banking can come together to profoundly impact an industry,” said Digitt+ CEO Ahmed Saleemi. We are creating an example for others in the fintech and banking industries by fusing our customised payment solutions with U Bank’s financial services.”
“Our partnership with Digitt+ is at the core of our strategy to innovate and deliver value to the agricultural sector of Pakistan,” said Mr. Mohamed Essa Al Taheri, President and CEO of U Bank. The first PKR 500 million has been successfully disbursed, but this is only the beginning. We’re determined to use our collaboration to improve Pakistani farmers’ financial security.
Farmers are now able to reinvest in their enterprises more quickly and have improved cash flow management due to the partnership’s considerable reduction in payment timeframes. This improvement in the financial pipeline is essential to maintaining the agriculture sector’s expansion and viability. With the goal of expanding this initiative’s influence to more regions and achieving the full promise of PKR 10 billion, U Bank and Digitt+ are committed to seeing it through to completion.
