CDC and Finnfund invest in microfinance pioneer to drive women entrepreneurship in Pakistan
Summary
Roshaneh Zafar, Founder and Managing Director of Kashf Foundation, said: “We are proud to have been a trendsetter in 1996 as the first specialized microfinance organization in the country with a clear focus on women micro-entrepreneurs. For the next five years, our focus is to further enhance women’s productivity across our network of branches and develop more customized solutions for our clients, while gearing to expand outreach to over 1 million female clients.” Kashf Foundation’s client-focused approach means that product development starts with the needs of the clients – the company offers for example health insurance solutions for recovery deposits and livestock loans. Stephen Priestley, Managing Director, Head of Financial Services at CDC, said:” Empowering women entrepreneurs is one of the best ways of achieving significant development impact. “Having both CDC and Finnfund as our partners means that we can continue towards our ambitious goals and make sure that our clients get the support they need through this difficult time”, said Zafar. Most low-income households lack access to formal safety nets and are highly vulnerable to shocks such as death of the breadwinner, illness, and disease.