The acquisition of Advans Pakistan Microfinance Bank By MNT-Halan

MNT-Halan has acquired Pakistan's Advans Microfinance Bank, CCP authorises acquisition.

MNT-Halan, Egypt's pioneering unicorn, aims to revolutionize financial service accessibility via technology. With millions benefiting from its transformative digital platform, MNT-Halan fosters convenience, seamlessness, and cost-effectiveness in financial solutions for individuals and burgeoning businesses. Rooted in a commitment to innovation and simplicity, MNT-Halan champions the belief that financial access empowers individuals to realize their aspirations.

The Competition Commission of Pakistan (CCP) has approved the acquisition of Advans Pakistan Microfinance Bank Limited by a Dutch-based holding company, MNT–Halan Pak B.V. This transaction marks a significant development in the microfinance banking sector of Pakistan.

MNT – Halan Pak B.V. is a holding company incorporated in the Netherlands, with a presence in Pakistan through its subsidiaries, Halan Wallet (Private) Limited and Halan Finance Limited. On the other hand, Advans Pakistan Microfinance Bank Limited is a public limited company operating in the microfinance banking sector of Pakistan.

The acquisition involves the purchase of 100% shareholding of Advans Pakistan Microfinance Bank Limited from Advans S.A SICAR, a Luxembourg-based financial services company. Following a thorough review of the pre-merger application, the CCP determined that there are no overlaps between the merging parties, and the market conditions will remain unchanged post-merger.

The approval of this acquisition is significant for Pakistan's microfinance banking sector, which plays a crucial role in the country's financial inclusion agenda. According to the World Bank, the sector serves 76% of all borrowers from the financial sector and accounts for approximately a third of all outstanding agriculture advances.

Foreign investment in this sector is expected to bring in new technologies, innovative products, and improved services, benefiting both the industry and the consumers.