Karandaaz Partnership with NRSP Agricultural Processing Company Reaping Rewards

Karandaaz Partnership with NRSP Agricultural Processing Company Reaping Rewards

Karandaaz Pakistan, following its mandate of promoting access to finance for micro, small and medium-sized businesses through a double bottom line investment platform, announced an equity investment of PKR 600 million in National Rural Support Programme (NRSP)’s subsidiary Agriculture Processing Company Limited (APCL). This investment will help APCL scale up warehousing, financial inclusion, and the incidence of rural industrialization, particularly for small-holding farmers. The investment made in October 2020 helped NRSP APCL install rice processing capacity of 40,000 tons of paddy per annum and expand the warehousing capacity of 5,250…

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Karandaaz Pakistan Launches 2nd Round of Financial Inclusion for Women Challenge

Karandaaz Pakistan Launches 2nd Round of Financial Inclusion for Women Challenge

Karandaaz Pakistan, with support from the Bill & Melinda Gates Foundation (BMGF) and the UK’s Foreign, Commonwealth and Development Office (FCDO), has launched the second round of its annual challenge titled, Karandaaz Financial Inclusion for Women Challenge. Under this challenge, Karandaaz is inviting applications to support ideas that create financial products specifically directed at women consumers and improve overall financial inclusion for women in Pakistan.   The proposed ideas may be technological solutions that can result in large number of women using formal financial services or women centric financial products…

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Karandaaz Provides Financing to Excel Labs to Initiate COVID-19 Testing

Karandaaz Provides Financing to Excel Labs to Initiate COVID-19 Testing

Karandaaz Pakistan is providing financing to Excel Labs to initiate COVID-19 testing. With this funding, Excel Labs is building its capacity to carry out an estimated 500 tests daily and more than 10,000 tests a month. This emergency response will help the country build critical testing capacity to test, track and control the spread of COVID-19.   At present, Pakistan is administering less than 1,000 tests per one million citizens, compared to more than 18,000 in the US, 12,000 in the UK, 113,000 in the UAE, 30,000 in Germany, and…

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U Microfinance Bank Wins Grant From Karandaaz For Financial Inclusion of Women

U Microfinance Bank Wins Grant From Karandaaz For Financial Inclusion of Women

U Microfinance Bank Ltd  signed a grant agreement with Karandaaz Pakistan, with funding from Bill & Melinda Gates Foundation. The grant will help U Bank further its mission of financially including more women. U Bank won the grant through a competitive application process via Karandaaz’s Digital Experiments program.   While uptake for digital financial services (DFS) remains low in Pakistan, the gap is especially wide when it comes to women. Only 7% of women in Pakistan are financially included, compared to 20% of men. Research shows that women are engaged…

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