Securing Futures with Insurance and Loans
Photographs courtesy of Acumen Fund
Thirty four percent of Pakistan's population of 140 million lives at or below the poverty line, and 80% survive on less than $2 a day. Founded in 1996, Kashf has worked to pioneer microfinance services--and now a suite of specialized financial services, including micro-savings, micro-insurance, and housing finance--that empower and promote the economic self-reliance of poor women and their families in Pakistan. Growing at a rate of 110% a year, Kashf is rapidly extending its presence and piloting new loan and insurance products that increase financial security and economic opportunity for its 300,000 and growing low-income clients.
Over the past seven years, Acumen Fund, a non-profit venture fund that invests in enterprises that deliver critical, affordable goods and services to the poor, has invested in Kashf, first to grow the reach of its microlending services to even greater numbers of women, and again to expand the range of services designed to meet the needs of low-income families. Acumen Fund is enabling Kashf to further its vision for financial inclusion for poor communities and create long-lasting models serving low-income markets, particularly women, to access a range of financial services that can improve their economic situation.