MOS Utility Signs Nawazuddin Siddiqui As The Brand Ambassador

MOS Utility has entered into a promotional agreement with prominent actor Nawazuddin Siddiqui and appointed him as the brand ambassador. The core objective of this association is to enhance the customer base of MOS Utility services by creating awareness about the ease of use and the benefits of its services to different strata of society. The announcement was made on Wednesday, outlining the company's goal to provide financial services to people who are either unbanked or under-banked in India.

Siddiqui is popular in India due to his involvement and down-to-earth nature. That is why he was regarded as the best choice for promotion because of his sweeping range of popularity throughout the country. His partnership with MOS Utility is likely to see the company venture into new market segments including the rural and semi-urban population who would appreciate MOS's innovative solutions. He appeals to the people; and that is precisely what MOS wants: a mass outreach program to eliminate the financial gap and afford people tools to be economically independent.

Chirag Shah, the Founder, and Chairman of MOS Utility Ltd, did not hold himself back towards his excitement for the partnership. As he pointed out, Siddiqui's principles match the values of the company, especially in the area of adding more people to the financial ecosystem and enhancing the availability of digital financial services. To him, endorsement from Siddiqui will not only enhance brand visibility but also drive millions towards the exploration of fintech services thus improving their financial literacy and inclusion.

The collaboration comes at a period when MOS utility is gradually picking up with its market outreach. The share price of the Company surged nearly 3 per cent on Wednesday at Rs 370 a share underlining investor optimism. Over the last 1 year, shares of MOS utility have given great returns at 296% further strengthening its foothold in the fintech space.

Apart from focussing on the Fintech services offered by MOS Utility Ltd., the company is venturing into the renewable energy business. The company recently entered into a service agreement with Gujarat-based Onix Renewable Limited whereby they will be exclusive distributors of Onix solar energy products in India. This five-year trade partnership is hoped to improve the supply of solar energy products, especially in the rural: areas where such products market is still untapped.

Recently, the company purchased 51% shares of the Samvriddhi Inclusive Growth Network Private Limited, a company that offers financial inclusion services. This acquisition is a part of the broader strategy of MOS, which is focused on penetration into the financial inclusion bandwagon.

Samvriddhi's agent-based model will enhance the last-mile connection of MOS Utility ensuring that consumers in the farthest corners are able to access even the most basic financial services. This merger is anticipated to improve the existing Mika j Weber & co's activities of virtual and mobile banking apart from prospective business in hotels, travelling, and utility services.