CEO Times

11/07/2024

Farrukh H Khan, who recently stepped down as CEO of the Pakistan Stock Exchange, is joining Jazz as CFO starting September 15, 2024. With over 30 years of experience in finance, Khan's expertise will be instrumental as Jazz aims to grow in financial services, software development, data centers, cloud solutions, and entertainment. Jazz CEO Aamir Ibrahim welcomed him, emphasizing his vital role in the company's ambitious plans to double revenue by 2027.

Read Full: https://ceotimes.net/2024/07/09/farrukh-h-khan-joins-jazz-as-chief-financial-officer/

Farrukh H Khan, who recently resigned from his positions as CEO and Managing Director of the Pakistan Stock Exchange (PSX), is set to join telecom

30/06/2024

Better late than never! Catch up with our June issue featuring the inspiring James Caan CBE on the cover. 📸

Dive into exclusive stories & expert insights you don't want to miss.

Available now: https://ceotimes.net/magazine/june-2024/

06/06/2024

PM Shehbaz Sharif met with Transsion Holdings' founder Zhu Zhaojiang to explore investment opportunities in mobile phone production, electric bikes, agriculture, & fintech. Zhu highlighted their existing mobile phone production unit in Pakistan & expressed interest in further investments. The meeting was attended by key federal ministers & renowned business figures from Pakistan’s mobile phone industry, including Aamir Allawala (CEO of Tecno), Muzzaffar Hayat Piracha (CEO of AirLink Communication), & Zeeshan Mianoor (CEO of Inovi).

Read Full: https://ceotimes.net/2024/06/06/pm-shehbaz-sharif-meets-transsion-holdings-chairman-to-discuss-investment-opportunities/

Prime Minister Muhammad Shehbaz Sharif met with Mr. Zhu Zhaojiang, founder and chairman of the Chinese company Transsion Holdings, in Shenzhen to explore

04/06/2024

SiFi, a Riyadh-based company, has raised $10 million in seed funding led by Sanabil Investments and Raed Ventures. Founded by Ahmed Alhakbani, SiFi offers an innovative spend management platform that automates expenses and provides corporate cards. This funding will help SiFi enhance its offerings and solidify its position as a top spend management solution in Saudi Arabia.

Read Full: https://ceotimes.net/2024/06/04/riyadh-based-fintech-sifi-raises-10-million-in-seed-round/

Fintech company SiFi, headquartered in Riyadh, has announced the successful raising of $10 million in a seed funding round led by Sanabil Investments, a

01/06/2024

Turkish company Papara has acquired Pakistan-based SadaPay, expanding its reach into South Asia. SadaPay, founded by Brandon Timinsky in 2019, quickly grew to one million users and processes $1.5 billion annually. Papara’s CEO Emre Kenci emphasized the significance of this move, aiming to make SadaPay a regional leader. Brandon Timinsky is optimistic about leveraging Papara’s expertise to deliver even more value to Pakistan’s citizens.

Read Full: https://ceotimes.net/2024/05/31/papara-acquires-pakistans-sadapay-expands-in-south-asia/

Turkish fintech company Papara announced on Wednesday the acquisition of Pakistan-based Electronic Money Institution (EMI) SadaPay, marking a significant

31/05/2024

Grubtech, a Dubai-based SaaS startup! They've raised $15 million in Series B and Series A extension rounds, led by Jahez and supported by Addition and Hambro Perks Oryx Fund. Founded in 2019, Grubtech's platform helps restaurants manage all digital operations seamlessly.

Read Full: https://ceotimes.net/2024/05/31/dubai-based-saas-startup-grubtech-raises-15-million-to-expand-global-presence/

Dubai, UAE: Grubtech, a Software-as-a-Service (SaaS) startup based in Dubai, has secured $15 million in its Series B and Series A extension rounds. The

31/05/2024

Atif R. Bokhari has resigned as President & CEO, effective May 31, 2024. Saleem Anwar steps in as Acting President & CEO. Askari Bank, backed by the Fauji Foundation, continues its banking services. On the day of the announcement, AKBL’s share price was Rs. 22.1 with a slight dip.

Read Full: https://ceotimes.net/2024/06/01/atif-r-bokhari-resigns-as-president-ceo-of-askari-bank-limited/

Atif R. Bokhari has resigned from his role as President & Chief Executive Officer of Askari Bank Limited (PSX: AKBL), the bank announced to the main

27/05/2024

DEWA has partnered with Parkin to expand EV "Green Charger" stations in Dubai, promoting sustainability and green mobility. With over 30,000 electric vehicles in the city, this initiative will enhance EV charging infrastructure, supporting Dubai’s Green Mobility Strategy 2030. DEWA and Parkin are committed to driving sustainable transportation and reducing carbon emissions.

Dubai, UAE: The Dubai Electricity and Water Authority (DEWA) has signed a Memorandum of Understanding (MoU) with Parkin, the supplier of paid public

26/05/2024

Ali Asghar Jamali, CEO of Indus Motor Company (IMC), is pushing for higher taxes on used imported cars to protect the local automotive industry. He presented this proposal to government officials to counter a surge in imports affecting local manufacturers. Jamali also highlighted the success of Toyota's new hybrid electric vehicle and the industry's economic contributions.

Ali Asghar Jamali, the Chief Executive Officer of Indus Motor Company (IMC), has emphasised the need to increase taxes on used imported cars to support

14/05/2024

Lune, a data analytics startup has raised $1.5 million in seed funding to expand its services across the GCC. Lune’s solutions help banks and fintechs turn transaction data into actionable insights, improving user experiences and decision-making. Co-founded by Helal Tariq Lootah and Alexandre Soued, Lune is set to revolutionize the financial services landscape.

Read More: https://ceotimes.net/2024/05/15/data-analytics-startup-lune-secures-1-5-million-in-seed-funding/

Lune, a pioneering data analytics startup, announced on Thursday that it has successfully raised $1.5 million in a seed funding round. The investment was

14/05/2024

Rasan, a Riyadh-based fintech startup, is set to raise $224.3 million in its IPO, marking the first Tadawul listing for a Saudi startup. With shares priced at SAR 35-37, Rasan could reach a market cap of nearly $750 million. Founded in 2016, Rasan operates Tameeni, Saudi Arabia’s largest online insurance aggregator.

Read More: https://ceotimes.net/2024/05/14/saudi-fintech-rasan-seeks-224-3-million-in-landmark-tadawul-ipo/

Riyadh-based fintech Rasan is poised to raise $224.3 million in its initial public offering (IPO), marking the first-ever Tadawul listing for a Saudi

13/05/2024

Abyan Capital, a Riyadh-based investment platform, has raised $18 million in a Series A funding round led by STV, with Wa’ed Ventures & RZM Investment also participating. Launched in 2021, Abyan offers a Shariah-compliant robo-advisory platform that simplifies saving & investing for users in Saudi Arabia. With over 1.4 billion SAR in deposits & 100,000 portfolios, Abyan is set to use the new funds to enhance its platform, introduce new products, & expand its reach.

Read More: https://ceotimes.net/2024/05/13/abyan-capital-raises-18-million-in-series-a-funding-round/

Riyadh-based investment platform Abyan Capital has secured $18 million in a Series A funding round, spearheaded by STV, as announced on Thursday. The

09/05/2024

Mnzl, the asset-backed lending platform, has just secured an impressive $3.5 million in funding, led by top venture capital firms P1 Ventures, Ingressive Capital, & LocalGlobe. Founded by Sameh Saleh, Mnzl is on a mission to revolutionize lending in Egypt by offering secured loans using assets like homes or cars as collateral. With this funding,

Read More: https://ceotimes.net/2024/05/09/mnzl-raises-3-5-million-in-funding-round-led-by-p1-ventures-localglobe/

Mnzl, an Egyptian asset-backed lending platform, has secured $3.5 million in a recent funding round led by prominent Africa-focused venture capital firms

01/04/2024

PTCL has announced the appointment of Captain Muhammad Mahmood (retd) as its new chairman, succeeding Mr. Hassan Nasir Jamy.

Read More: https://ceotimes.net/2024/04/01/captain-r-muhammad-mahmood-appointed-as-ptcls-new-chairman/

Pakistan Telecommunication Company Limited (PTCL) has announced the appointment of Captain Muhammad Mahmood (retd) as its new chairman. The telecom giant

01/03/2024

Mohammad Khosa has been appointed as the new Chief Executive Officer of PepsiCo for Pakistan & Afghanistan, bringing extensive experience in FMCG categories to his new role. In his announcement, Khosa expressed gratitude and enthusiasm for the opportunity to lead PepsiCo's business in these vibrant markets, highlighting the company's dedication to innovation, excellence, and community impact.

Read More: https://ceotimes.net/2024/03/01/pepsico-appoints-mohammad-khosa-as-ceo-for-pakistan-afghanistan/

PepsiCo Pakistan has officially named Mohammad Khosa as the new Chief Executive Officer for Pakistan and Afghanistan, marking a strategic leadership

27/02/2024

The Dubai-based venture capital firm has closed its first fund, securing an impressive $54 million to support early-stage startups across the Middle East. Led by Founder & General Partner, Amir Farha, COTU Ventures is committed to fostering innovation and entrepreneurship in the region by providing crucial support to promising founders.

Read More: https://ceotimes.net/2024/02/27/cotu-ventures-raises-54-million-inaugural-fund-to-fuel-mena-startups/

COTU Ventures, a Dubai-based early-stage venture capital firm, has announced the successful closure of its inaugural fund, securing a substantial $54

05/02/2024

Jon Rokk has been appointed as Managing Director, bringing 30 years of extensive leadership experience to the role. With expertise in entrepreneurship and business development across various sectors and regions, Rokk is poised to lead the company's growth and development strategies.

Read More: https://ceotimes.net/2024/02/05/jon-rokk-appointed-as-managing-director-of-egypt-kuwait-holding-company/

Egypt Kuwait Holding Company has announced the appointment of Jon Rokk as Managing Director, effective February 1, 2024. With a career spanning 30 years,

19/01/2024

Tumodo, the game-changing business travel platform, has raised an impressive $35 million in pre-seed funding. Co-led by angel investors in MENA, this funding will power Tumodo's expansion in the UAE, drive product innovation, and foster new partnerships across the region.

Read More: https://ceotimes.net/2024/01/19/tumodo-secures-35-million-in-pre-seed-funding-for-expansion-in-uae-mena-market/

In a significant move, Tumodo, a pioneering business travel platform established in 2023, has successfully raised $35 million in a pre-seed funding round.

15/01/2024

Ali Tariq steps into the role of Chairman and CEO, effective February 1, 2024. With a rich history at Unilever since 2003, Ali Tariq brings global experience to contribute to Sri Lanka's growth. Hats off to outgoing leader Hajar Alafifi, who led the company through challenges and now moves to a new role in Jakarta.

Read More: https://ceotimes.net/2024/01/15/unilever-sri-lanka-appoints-ali-tariq-as-chairman-ceo/

Unilever Sri Lanka has announced the appointment of Ali Tariq as its new Chairman and CEO, effective from February 1, 2024. With this appointment, Ali

09/01/2024

FrieslandCampina Engro Pakistan have announced Kashan Hasan as the new CEO, effective February 01, 2024. With over 22 years of industry experience, including a role as CEO at Shan Foods, Kashan is set to lead FrieslandCampina Engro towards growth and strategic success.

Read More: https://ceotimes.net/2024/01/09/frieslandcampina-engro-pakistan-appoints-kashan-hasan-as-ceo/

FrieslandCampina Engro Pakistan Limited, a prominent player in the dairy industry, announced the appointment of Kashan Hasan as its Chief Executive

28/12/2023

Tameed, a digital lending platform has successfully closed a Series A funding round, raising SAR 56.75 million (USD 15 million) to fuel their innovative Government Purchase Orders Financing for SMEs in Saudi Arabia. Led by Alrumaih Investments, Tameed has achieved 400% growth, providing over SAR 400 million in funding to date through their mobile app.

Read More: https://ceotimes.net/2023/12/28/tameed-secures-sar-56-75-million-in-series-a-led-by-alrumaih-investments/

Tameed Digital Lending Platform, a Shariah-compliant platform providing Government Purchase Orders Financing for SMEs in Saudi Arabia, has successfully

18/12/2023

Nestlé Pakistan on 35 years of operations invested PKR 2 billion in renewable power & sustainability initiatives, including a new 2.5 MW solar power plant at its Kabirwala Factory. This move aligns with Pakistan's renewable energy vision & Nestlé's commitment to reducing emissions. CEO Jason Avanceña highlights Nestlé's dedication to being a positive force for Pakistan's future.

Read More: https://ceotimes.net/2023/12/18/nestle-pakistan-celebrates-35-years-with-pkr-2-billion-investment-in-renewable-energy/

Nestlé Pakistan, marking 35 years of operations in the country, is reinforcing its commitment to Pakistan's renewable energy goals with a substantial

07/12/2023

The innovative platform for restaurants in online ordering has just wrapped up a Seed funding round, bringing in an impressive $2.1 million. Investors like 500 Global and Global Founders Capital are backing Blink's mission to empower restaurants. Blink's CEO, Syed Sair Ali, sheds light on how the platform is helping restaurants regain control and profitability in a delivery-dominated era.

Read More: https://ceotimes.net/2023/12/07/blink-secures-2-1-million-in-seed-funding-to-propel-growth-in-saudi-arabia/

Blink has successfully concluded a Seed funding round, securing a substantial $2.1 million. The funding round saw participation from prominent investors,

06/12/2023

Ooredoo & Zain Group have officially partnered with TASC Towers Holding to create the largest tower company in the MENA region. This collaboration, with approximately 30,000 towers and a value of $2.2 billion, aims to boost connectivity, drive economic growth, and reduce the carbon footprint. Ooredoo and Zain will each hold a 49.3% stake in the restructured entity, aligning with their smart telco strategies.

Read More: https://ceotimes.net/2023/12/06/ooredoo-zain-tasc-towers-join-forces-to-create-mena-regions-largest-tower-company/

In a strategic move towards reshaping the telecommunications landscape, Ooredoo and Mobile Telecommunications Company (Zain Group) have officially inked

06/12/2023

Lahore-based software development company CodeNinja secures $1.6 million in a funding round led by sAi Venture Capital, alongside Plutus21 Capital and affiliates. With a 100% year-on-year growth, CodeNinja aims to seamlessly integrate intelligence and computing for global clients, fostering a purpose-driven ecosystem through AI initiatives.

Read More: https://ceotimes.net/2023/12/06/codeninja-secures-1-6-million-in-funding-led-by-sai-venture-capital/

CodeNinja, a prominent software development company based in Lahore, has successfully raised $1.6 million in a funding round led by sAi Venture Capital,

01/12/2023

Saudi Arabia's Retailo, a B2B digital distribution startup catering to micro-retailers & restaurants, has secured an impressive $15 million in equity funding. The round welcomed new investors, including Bahrain’s Yusuf Bin Kanoo Group & Dubai’s Majd Digital, alongside continued support from existing backers.

Read More: https://ceotimes.net/2023/11/30/retailo-secures-15-million-in-funding-to-boost-b2b-digital-distribution/

Saudi Arabia-based Retailo, a B2B digital distribution startup targeting micro-retailers and restaurants, has successfully raised $15 million in equity

28/11/2023

Abdullah bin Sulaiman Al Rajhi takes the helm as the new Chairman of the Board of Directors, showcasing over 35 years of expertise in steering the bank to success. The recent shareholders' meeting also announced Ibrahim bin Mohammed Al Romaih as the Vice Chairman, marking a strategic leadership move.

Read More: https://ceotimes.net/2023/11/28/al-rajhi-bank-appoints-abdullah-bin-sulaiman-al-rajhi-as-chairman-of-the-board/

In a recent announcement, Al Rajhi Bank, the second-largest lender in Saudi Arabia by assets, revealed the appointment of Abdullah bin Sulaiman Al Rajhi

27/11/2023

Omantel proudly announces the appointment of Saleem Abdullatiff as Vice President of the Business Unit. With a remarkable 30-year career in marketing & ICT, Saleem brings valuable expertise to drive strategic initiatives, strengthen corporate relationships, & elevate customer experiences. His past roles as General Manager of Marketing underscore his leadership in Oman's dynamic telecom sector.

Read More: https://ceotimes.net/2023/11/27/omantel-appoints-saleem-bin-ahmed-abdullatiff-as-vp-of-the-business-unit/

Omantel, the premier provider of integrated telecommunication services in the Sultanate of Oman, has proudly announced the appointment of Saleem bin Ahmed

24/11/2023

BusCaro, a local startup, secures a game-changing $1.5 million in pre-seed funding, led by Orbit Startups, Wahed Ventures, & angel investors. The startup is set to revolutionize public transport in major cities like Karachi, Lahore, & Islamabad by providing a more affordable & efficient alternative.

Read More: https://ceotimes.net/2023/11/25/buscaro-secures-1-5-million-in-pre-seed-funding/

In a significant development for the mobility sector in Pakistan, BusCaro, a homegrown startup, has successfully raised $1.5 million in pre-seed funding.

16/11/2023

Meezan Bank has achieved a crucial milestone with the Certificate of Incorporation for Meezan Exchange Company from SECP. This sets the stage for the next steps, including obtaining a license to commence operations, in line with State Bank of Pakistan's initiative to streamline foreign exchange services.

Read More: https://ceotimes.net/2023/11/16/secp-grants-certificate-of-incorporation-to-meezan-exchange-company/

Meezan Bank Limited (PSX: MEBL) has received the Certificate of Incorporation from the Securities and Exchange Commission of Pakistan (SECP) for Meezan