KARACHI: Saudi-backed Wafi Energy said on Friday it had partnered with NED University of Engineering and Technology to sponsor the regional round of the World Startup Championship, expanding its investment in Pakistan’s youth entrepreneurship ecosystem as Gulf investors deepen their engagement with the South Asian nation.
Wafi Energy Pakistan is majority-owned by Wafi Energy Holding, an affiliate of Saudi Arabia’s Asyad Group, which acquired an 87.78 percent stake in the former Shell Pakistan in 2024. The latest initiative is carried out through the company’s social investment program, Tameer.
The regional competition formed part of SEE Pakistan’s World Startup Championship, the Pakistan leg of an annual international entrepreneurship competition, bringing together more than 300 student-led startups from universities across Sindh to pitch business ideas, receive feedback from industry leaders and compete for a place in the national finals.
“Pakistan’s young entrepreneurs have the ideas, ambition and resilience to solve some of our country’s most pressing challenges,” Imran Qureshi, director of corporate and government affairs at Wafi Energy Pakistan, said. “We are committed to giving them access to the platforms and opportunities they need to transform those ideas into sustainable businesses.”
“Our collaboration with NED University and SEE Pakistan reflects our belief that investing in young innovators today is an investment in Pakistan’s future economic growth,” he added.
The partnership comes as Wafi Energy continues to expand its operations in Pakistan following its acquisition of a majority stake in the former Shell Pakistan.
The company reported a 148 percent increase in quarterly profit in April, with profit after tax reaching Rs2.16 billion ($7.7 million), while also adding new retail sites, expanding convenience store operations and launching a lubricants partnership with Indus Motor Company.
Chief Executive Zubair Shaikh described the company’s investments as part of a long-term commitment to sectors that support Pakistan’s development, with education and youth entrepreneurship forming a key pillar of its Tameer social investment program.
