09 October 2016
KARACHI: Acumen Pakistan, a not-for-profit organisation that invests in projects aimed at tackling poverty, on Saturday hosted a community gathering to celebrate its accomplishments.
The event was attended by several guests and members of the organisation including Acumen founder and CEO Jacqeline Novogratz.
Since its inception in 2001 it has invested $101 million in underprivileged areas throughout the world, mainly South Asia and East Africa. In Pakistan it carried out projects worth $16m.
Speakers at the event included Acumen Pakistan Director Naeem Zamindar, senior board member Zubyr Soomro and many other entrepreneurs who have partnered with the organisation.
Mr Zamindar applauded several projects such as microfinance bank NRSP, renewable energy wholesaler Nizam Energy, affordable housing provider AMC and Pharmagen Healthcare, all of which were financed and assisted by Acumen.
Even though he was happy with the progress and future in Pakistan, he thought that projects in Pakistan were still not progressing at the same pace as in other countries including India.
“We have not seen enough ideas in Pakistan because young entrepreneurs are discouraged by the lack of seed capital,” he said.
The gathering was also addressed by Acumen fellow Shamim Akhtar who has started the only girls college in her village near Mirpurkhas as well as Mashal Chaudhary who is the founder of the Reading Room Project.
CEO Jacqueline Novogratz outlined her organisation’s plans for the future and thanked all investors and donors for their help.