Author Archive

Photo of the Week from Misbah Naqvi, Business Development Manager

Wednesday, August 11th, 2010

Photo Credit: Jacqueline Novogratz

This picture was taken in a village near Kala Shah Kaku outside Lahore, when I made my first visit to the site for Saiban’s Khuda ki Basti 4 with the Acumen Fund team and Jawad Aslam almost exactly four years ago. It remains one of my favourite photographs – not just because of the lush green background and the idyllic landscape, but because every time I see it, I can almost hear the laughter in these boys voices. They walked with us from the village to the basti, chatting, giggling and playing all the way, happy in the moment – as every child deserves to be.

The fields and pathways were flooded from recent monsoon rains and at one point we actually had to roll up our pants and tiptoe through calf-deep waters, flip-flops in hand. But apart from mud-caked flip-flops, wet, dirty clothes, and a few slips, in a few minutes we were able to make it through the flooded fields to the housing site where the first model house had just been built for what was to become a thriving community a few years later.

Seeing the devastation caused by the floods in Pakistan right now with more than 1,600 killed and over 14 million people impacted, by the incessant rains and overflowing rivers, families homeless and displaced, I cant help but think about these kids and so many others like them. Where are they, 4 years from when we met? What does their village look like today? How have their lives been impacted by the floods and rains? Are they going to school? Are they still laughing and playing?

These are overwhelming questions and its hard to stay positive at times like these, when so many have lost so much and the general feeling of hopelessness is so pervasive. But we must move ahead, do more, act more, help more and reach out to those that need assistance. In Pakistan and around the world, individuals and organizations are coming together to provide disaster relief. We need to address the immediate needs now. And in the long run, focus on sustainable solutions to lift people out of poverty and to provide them with opportunities that celebrate dignity, not build dependence.

Misbah Naqvi is a Business Development Manager in our NY office and previously worked with our Pakistan team in Karachi.

Kashf Foundation Featured on MIX Market

Friday, July 25th, 2008

Acumen Fund investee Kashf Foundation is the featured 5 Diamond profile of this month on the MIX Market, a global microfinance information platform on the web. The MIX Market rates Microfinance Institutions (MFIs) on their transparency in reporting, by scoring them on a scale of one to five “diamonds”, with 5 being the highest possible level of accuracy and clarity in financial and operational program reporting. The MIX is seen as a global leader in championing financial transparency, accountability and disclosure standards in microfinance.

Kashf Foundation is one of Pakistan’s fastest growing microfinance institutions, with a mission of financial inclusion and providing women in Pakistan with access to microfinance products and services. Acumen Fund has been investing in Kashf since 2002 and has seen the organization grow to over 300,000 clients, with plans to reach 1 million by 2010. We have been working with Kashf to expand beyond simple microfinance to second generation products like the Home Improvement Loan (HIL). Kashf is a professionally-run organization, with clear financial reporting systems and processes and we are delighted to see them highlighted on MIX Market for transparency. MIX has also rated Kashf as one of the top 25 MFIs in the world for 2007. Kashf President Roshaneh Zafar has also recently been nominated to the World Economic Forum’s Global Agenda Councils on Financial Empowerment and the Gender Gap.

Visit the Kashf Foundation page on the Acumen Fund website to read more about our investment, view stories and a presentation at our office by Kashf Foundation CEO Sadaffe Abid.

Technology in emerging economies

Monday, February 25th, 2008

This interesting article in the Economist highlights the difference between the adoption of a new technology in emerging markets and the diffusion of this technology in the country. This article also mentions some of the challenges faced in bringing large-scale technology-based solutions to the poor in some of the markets Acumen Fund focuses on. If we are to achieve sufficient scale and bring, for example, affordable and effective technology-based health solutions to low-income consumers in these markets, we have to support solutions that recognize and target these potential pitfalls.

Pakistan earthquake – two years later

Thursday, October 11th, 2007

This week was the two-year anniversary of the devastating earthquake that hit northern Pakistan and Kashmir. While we pay our respects to the 75,000+ people who lost their lives, we are also aware that many of those left behind are still struggling to lead normal lives. While some progress has undoubtedly been made, the sheer scale of the impact – hundreds of thousands injured, thousands of schools and over 275,000 homes destroyed – and the tough terrain has made rebuilding and reconstruction an extremely challenging task for the authorities. 

This article highlights some of the remaining challenges, two years on, in rebuilding homes in the affected areas. As the next winter approaches, thousands are still without homes and are living in temporary shelters. Prices of materials, transport and labour have shot up and the compensation paid out by the government is not sufficient to help most people rebuild their homes. The situation is made worse by corruption, red tape and the lack of funds.

While these issues are obviously exacerbated in the post-earthquake era, at Acumen Fund we have seen how poor people struggle with very similar issues in trying to build and purchase homes. As we develop and invest in appropriate and successful models for housing low-income consumers, our work in this sector is beginning to provide breakthrough insights which, we hope, can one day assist those who may be impacted by a disaster like this earthquake.

The impact of biofuels on the poor

Monday, October 8th, 2007

This article emphasizes the need to ensure that biofuels are ethically produced, so that the drive towards using biofuels does not come at the cost of the poor’s sustenance. The article sparked an interesting email exchange among the Acumen Fund team, given our exploration of energy as an issue area for investment. If you click on “comments” below, you can follow the conversation.