The government has initiated the process of seeking new investors for Nagad, one of the country’s fastest-growing mobile financial service (MFS) providers stated in a report.
As part of the transition, the authorities have invited applications from financial advisory firms to act as exclusive sell-side Mergers & Acquisitions advisers for a potential transaction involving Nagad. Interested firms have been asked to submit their applications within a set deadline.
The selected adviser will be tasked with assessing Nagad’s market positioning and value proposition, preparing marketing materials, and approaching potential strategic and financial buyers.
Officials said the move is part of a broader plan to gradually shift Nagad into the private sector. The step comes amid concerns that the current operational structure is not adequate to ensure efficiency, requiring a competent institution to take charge.
In recent months, Nagad has undergone significant restructuring, including the removal of nearly 15 million fake or inactive accounts. With reforms already in place, the company is now preparing to move forward under a new ownership framework.
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