MMBL-Pathfinder Group joint venture forex earnings to reach $ 200 m

Wednesday, 14 September 2022 00:00 - - {{hitsCtrl.values.hits}}

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Despite severe drawbacks to the country’s economy and the business environment, MMBL - Pathfinder Group’s joint venture portfolio is expected to reach foreign exchange earnings of $ 200 million in 2022. As of August end, this figure stood at $ 125 million.

The comparative figure for the calendar year 2021 was $ 145 million. With the improvement in the inward remittance business and the Group’s investments in joint ventures, including those related to the export logistics sector and petroleum sector support services, which generates revenue in dollars, the Group will be in a position to achieve the expected target of $ 200 million in foreign exchange earnings in 2022.

The year 2023 will also see the Group establishing joint collaborations with internationally reputed companies that will provide the strategic support necessary to attract new investment into the country. Among the new ventures planned are the introduction of drone technology to provide services to the agricultural and industrial sectors and further expanding joint venture investments in the tourism, leisure and aviation sectors, which are expected to experience steady growth in the coming years with the relaxing of travel advisories by tourism source countries and improvement in the security environment in the country.

MMBL - Pathfinder said it will continue to support its non-profit associates, such as the Pathfinder Foundation and the Pathfinder Collection.