MMBL-Pathfinder Group JV forex earnings to reach US$ 200mn this year

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 US$ 200 million in 2022. As of end August, this figure stood at US$ 125 million.  

The comparative figure for the calendar year 2021 was US$ 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 generate revenue in US dollars, the group will be in a position to achieve the expected target of US$ 200 million in foreign exchange earningsin 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.