Akhuwat, a Pakistan-based nonprofit microfinance institution (MFI), in collaboration with MyBiz Pakistan, a nonprofit initiative that provides business advisory services and seed-stage financing for small businesses, recently launched the MyBiz Incubation Centre (MyBiz Incubation), a program that aims to develop microenterprises in the country.
MyBiz Incubation will be part of Akhuwat’s Institute of Social Enterprise and Management (AISEM), an educational initiative that is administered by the MFI. According to statements attributed to Mr Amer Qureshi, an adviser to MyBiz, the program will “…train, guide, support and finance 20 microfinance businesses to a higher level by extending their business operations.”
For the year 2011, Akhuwat reported to the US-based nonprofit Microfinance Information Exchange (MIX) a gross loan portfolio of USD 2.8 million with approximately 31,500 active borrowers. More recent financial data on the firm, which does not accept deposits, are not available. Financial data on MyBiz Pakistan are not available.
By A’kos Szebeni, Research Associate
About Akhuwat
Established in 2001, Akhuwat is a microfinance institution (MFI) based in Pakistan. For the year 2011, Akhuwat reported to the US-based nonprofit Microfinance Information Exchange (MIX) a gross loan portfolio of USD 2.8 million with approximately 31,500 active borrowers. The institution does not accept deposits.
About MyBiz Pakistan
MyBiz Pakistan is an nonprofit initiative that aims to promote the development of early-stage companies in the country by providing business advisory services, managerial training and access to networks of angel investors. The vision of the company is to “help young Pakistanis become entrepreneurs and take control of their lives.” Financial data on the firm are not available.
Sources and Additional Resources:
The Daily Times, “Akhuwat opens incubation centre for microfinance businesses,” http://www.dailytimes.com.pk/punjab/19-Apr-2014/akhuwat-opens-incubation-centre-for-microfinance-businesses
MicroCapital, April 2, 2014, “Buksh Foundation, Kiva Announce Partnership to Support Microentrepreneurs in Pakistan,” https://www.microcapital.org/microcapital-brief-buksh-foundation-kiva-announce-partnership-to-support-microentrepreneurs-in-pakistan/
MicroCapital, April 9, 2012, “Government of Khyber Pakhtunkhwa, Pakistan, Allocates $66m to Microfinance, Primarily for Youth, Artisans,” https://www.microcapital.org/microcapital-brief-government-of-khyber-pakhtunkhwa-pakistan-allocates-66m-to-microfinance-primarily-for-youth-artisans/
MicroCapital, February 28, 2012, “State Bank of Pakistan Aims to Disburse $134m via Microfinance Banks to Agricultural Sector in 2012,” https://www.microcapital.org/microcapital-brief-state-bank-of-pakistan-aims-to-disburse-134m-via-microfinance-banks-to-agricultural-sector-in-2012/
MicroCapital, January 2, 2012, “State Bank of Pakistan Releases Five-Year ‘Microfinance Strategic Framework,’ Launches Financial Literacy Programme,” https://www.microcapital.org/microcapital-brief-state-bank-of-pakistan-releases-five-year-microfinance-strategic-framework-launches-financial-literacy-programme/
MicroCapital, November 11, 2008, “Pakistan’s Akhuwat and Muslim Aid Collaborate to Disburse US$ 4,316 In Microloans,” https://www.microcapital.org/microcapital-story-pakistans-akhuwat-and-muslim-aid-collaborate-to-disburse-us-4316-in-microloans/
MicroCapital Universe Profile: Akhuwat, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Akhuwat
MicroCapital Universe Profile: MyBiz Pakistan, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=MyBiz+Pakistan
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
Similar Posts:
- MICROCAPITAL BRIEF: China Mobile’s Zong Unveils PayMax Payment Service in Pakistan
- MICROCAPITAL BRIEF: Enabling Qapital Loans $10m to AccessBank for Microfinance, SME Lending in Azerbaijan
- MICROCAPITAL BRIEF: HugoBank, KT, Mashreq, Raqami Islamic, Telenor Microfinance Earn Regulatory Approval to Pilot Digital Banking Services in Pakistan
- SPECIAL REPORT: Small Business Diaries Benefit Entrepreneurs, Microfinance Institutions #EMW2023
- MICROCAPITAL BRIEF: EBRD Loans $4.4m to KEP Trust of Kosovo with Focus on Rural, Women-led MSMEs