Press Releases


NRSP Launches Microfinance Bank in Partnership with Acumen Fund, IFC and KfW

Karachi, April 6, 2011 – The National Rural Support Programme (NRSP), the largest microfinance organization in Pakistan to focus on rural, agricultural markets, has launched a fully regulated, deposit-taking, privately-owned microfinance bank. The Bank has been awarded a license by the State Bank of Pakistan, the Central Bank, to operate nationwide. NRSP has partnered with Acumen Fund, International Finance Corporation and Kreditanstalt fur Wiederaufbau (KfW) as shareholders in NRSP Microfinance Bank. Its mission is to reduce poverty by providing low income rural farmers with timely access to essential financial services such as crop and livestock loans on simple and affordable terms, as well as deposit products to encourage savings and to enable economic well-being.

“This $1.9 million investment is the latest in Acumen Fund’s expanding Pakistan portfolio and signals our continued commitment in the country to building transformative businesses that serve the poor for the long-term,” said Aun Rahman, Country Director of Acumen Fund Pakistan. “Acumen Fund continues to focus on scalable, innovative methods for providing resources, dignity and hope to the poor.”

Pakistan’s financial sector remains inaccessible to the majority of low income Pakistanis — an estimated 86% of the adult population has no access to formal financial services — but NRSP Bank is expected to reach nearly 625,000 borrowers nationwide over the next five years.

“NRSP Bank will provide access to financial services to small and poor farmers. This will enable them to mitigate against rising inflation and food prices.” said Dr. Rashid Bajwa, Chairman of NRSP Bank. “It will also help those struggling farmers affected by floods to restore their livelihoods and restore hope. The Bank is poised to be the first of its kind in Pakistan and the region.”

“Acumen Fund has been investing patient capital in Pakistan since 2002 in our effort to provide the critical goods and services that empower Pakistanis to improve the livelihoods of themselves and their families,” said Acumen Fund CEO, Jacqueline Novogratz. “Through the expansion of NRSP, Acumen aims to improve the quality of life for hundreds of thousands of Pakistanis.”


Reflections on the India Fellows Seminar

Each year, the India Fellows Program brings together up to 20 emerging leaders from different regions, sectors, and socio-economic backgrounds in India. During the fellowship year, Fellows remain in their jobs and meet every 6-8 weeks throughout the year for 4 seminars and 2 collaborative projects, each about a week long. As the India Fellows Associate, Jacqui is responsible for supporting all aspects of the program recruitment, logistics, marketing and strategic planning. Below, Jacqui reflects on the first seminar, Foundations of Leadership. You can read more about the fellowship program here[Read More]

Adaptive Leadership in Action: Addressing Cultural Norms & Giving Women a Voice

In the fall of 2013, +Acumen launched the course Adaptive Leadership: Mobilizing for Change in partnership with the Cambridge Leadership Associates. This course is for anyone who wants to become more effective at leading their organization through change. Below, one of the course participants shared her story about how this course impacted her work and ability to affect change. [Read More]

Making Sense of Social Impact in Action: The Value of Educating Our Youth

At Acumen, one of the most common questions we get is how we measure social impact. Our newest +Acumen course – Making Sense of Social Impact: Acumen’s Building Blocks for Impact Analysis. – will provide an entry point for how to think about impact and we’ll share frameworks that help us define what to measure and why. Makoto Matsuura, founder of cobon a not-for-profit focused on youth education in Jakarta, Indonesia and Osaka, Japan, took a pilot version of this course and shared his reflections with us. [Read More]

Good news for philanthropists in the U.K. and Europe

We are excited to announce that Acumen now holds a CAF Charitable Trust in the United Kingdom. CAF, the Charities Aid Foundation, is a registered U.K. charity. By donating to Acumen through CAF, you can use Gift Aid if the amount of Income Tax and/or Capital Gains Tax you’ve paid for the tax year in which you make your donation is at least equal to the amount of basic rate tax  [the charity or Community Amateur Sports Clubs (CASCs) and any other charities or CASCs] you donate to will reclaim on your gift. CAF will reclaim 25% Gift Aid from HM Revenue & Customs and pass this through to Acumen.  The donor can claim higher rate tax relief (for more information, please refer to CAF’s online resource, What Is Gift Aid?). [Read More]

d.light Leaders Named 2014 Social Entrepreneurs of the Year

We are thrilled for our portfolio company d.light and Donn Tice, Chairman and CEO, along with cofounders Ned Tozun, President, and Sam Goldman, Chief Customer Officer, for being named Social Entrepreneurs of the year 2014 by the Schwab Foundation for Social Entrepreneurship. d.light is a for-profit social enterprise that manufactures and distributes solar lighting and power products with primary markets in the developing world, today announced that d.light, along with 37 other individuals and organizations in the 2014 class, will be fully integrated into the events and initiatives of the World Economic Forum. [Read More]