In Pakistan, 80 percent of the population survives on less than $2 USD a day and approximately one-third lives at or below the poverty line. There is a pronounced need for credit in Pakistan. But local moneylenders may charge up to 350 percent in annual interest.
Founded in 1996, Kashf was one of the first microfinance institutions in Pakistan. Its vision is to become a “one-stop financial services provider” for low-income women and their families. Kashf offers general, emergency, business and home improvement loans, as well as insurance products. The organization allows for closely managed growth through a franchise model with branches in both rural and urban areas.
Acumen’s second round loan financed the launch of the Kashf Home Improvement Loan, which provides existing Kashf clients with loans to repair and expand homes, construct sheds, add rooms, and increase earning potential by working from home.
Kashf currently operates 150+ branches across Pakistan. More than one million individuals and 306,000 families have been reached, and $202 million USD in loans disbursed. Kashf has become one of the premier microfinance institutions in Pakistan and is ranked in the top quartile of the local and regional microfinance sector.
Nearly two‐thirds of clients that have been with Kashf for over four years report an increase in savings over the last 12 months.