At the beginning of this February, a delegation of top executives from Uzum, the Uzbekistani eCommerce and fintech powerhouse, landed in Lahore. Within Lahore’s tech sector scene, the arrival from Tashkent had caused quite the stir, as some of Pakistan’s biggest players in logistics, fintech, and eCommerce lined up for meetings.
A team from Zindigi, the digital financial services application created by JS Bank, was at the airport to receive them. The courtesy was a sign of the deep partnership forming between the two organisations. After all, this was not the first visit by Uzum representatives to Pakistan. Sources close to the matter have told Profit that Uzum had first explored Pakistan’s market in 2024. The initial visit had been driven by conversations between their sponsors and those of JS Bank. These high-level discussions planted the first seeds of collaboration, sparking Uzum’s interest in Pakistan’s rapidly growing digital economy.
What began as an exploratory visit turned into a serious pursuit of opportunity, leading to this most recent trip—one that carried with it the momentum of a carefully cultivated plan for Pakistan. From the moment they landed, Uzum’s leadership had a jam packed schedule, meeting with the leadership of Zindigi, Leopards Courier, PostEx, Bazaar, GrocerApp, Rozee, and Bykea. This is only the list Profit could confirm, but there might have been other meetings as well. The agenda was clear: the delegation wanted to meet with companies that could give them the lay of the land, and potentially be partners in building a next-generation eCommerce ecosystem in Pakistan.
But what exactly does this Uzbekistani unicorn want from Pakistan? Sure, on paper Pakistan is a very lucrative potential market. Internet penetration has grown in recent years and is set to grow even more, the population is fairly young, there is a clear appetite for tech, and the market is far from saturated. However, the Pakistani market comes with its own baggage and challenges, a fact that Uzum will be keenly aware of. Despite any deterrents, they have their eyes set on Pakistan beyond just meetings and handshakes.
Behind this visit is a vision. A vision in which the world of eCommerce and fintech are merged in a way that no one in Pakistan has seen before. It is a model Uzum has followed in Uzbekistan, and will now be looking to replicate in Pakistan. As we go from behind-the-scenes discussions to tangible plans, this latest visit could be setting the stage for one of the most transformative digital partnerships in the region. The content in this publication is expensive to produce. But unlike other journalistic outfits, business publications have to cover the very organizations that directly give them advertisements. Hence, this large source of revenue, which is the lifeblood of other media houses, is severely compromised on account of Profit’s no-compromise policy when it comes to our reporting. No wonder, Profit has lost multiple ad deals, worth tens of millions of rupees, due to stories that held big businesses to account. Hence, for our work to continue unfettered, it must be supported by discerning readers who know the value of quality business journalism, not just for the economy but for the society as a whole.To read the full article, subscribe and support independent business journalism in Pakistan
