01242017Tue
Last update: Tue, 24 Jan 2017 03am

Press Release

Acumen portfolio company gets acquired by two UK funds

acumenKarachi: The acquisition of Ansaar Management Company(AMC) was finalized last week, and brings on board two major international players from the low-cost housing market; Real Equity for All (Reall), and Places for People (PfP). Reall is working in more than 20 countries, and has chosen AMC as their entry partner in Pakistan. Similarly, PfP, a UK based property development company is looking to increase its visibility across South Asia through AMC. Both companies saw potential in AMC as a model that could be replicated not just in Pakistan but globally.

Acumen first invested in AMC in 2009, and helped scale the operations, and social impact of the investee company. AMC is Pakistan's only socially driven private sector business developing and implementing affordable housing solutions for ordinary, hardworking people.

“This is in incredible opportunity for us, but it’s also a great opportunity to prove that social enterprises can work in Pakistan,” said Nadir Ahmed, AMC’s Chief Financial Officer.

Acumen, established in 2002, is Pakistan’s only social impact investment fund. It harnesses the power of entrepreneurship, and employs its Patient-Capital model (investments that are high risk, flexible and have a longer time threshold) to disrupt poverty globally, by investing in revolutionary ideas, leaders and companies.

“Our investment and support to AMC has demonstrated that social impact enterprise can solve the housing problem for the poor in a scalable and profitable way. This has now attracted international investors that can provide the financing and expertise to massively scale up AMC to bridge the housing gap for the poor. We are excited by this validation and encouraged to confidently move forward with our investing activity in ventures that are going to solve the energy, education and healthcare gaps and enhance livelihood for farmers to tackle poverty and give them a life of dignity and choice” said Naeem Zamindar, Acumen’s Pakistan Country Director.

December 30, 2016 10:26:17

Dell signs on Muller & Phipps as their new distributors

Dell, one of the largest technology companies globally, has signed a MoU with the well-known distributor Muller & Phipps (M&P) on December 16 in Karachi. This partnership is strategically significant for the tech giant because of the continue... more

December 20, 2016 08:32:01

Yayvo.com & JazzCash Team Up For ‘Black Friday 2016’

ISLAMABAD: After the success of its ‘Great Online Shopping Festival (GOSF)’ in September, Yayvo.com, the nation’s leading online e-commerce portal, has joined hands with JazzCash to bring its customers ‘Yayvo Black Friday 2016’. Focused on ... more

November 10, 2016 11:50:49

Qatar Airways launches two seats, one great offer on its award winning business class

The exclusive ‘Companion Offer’ provides travellers and their loved ones with a unique opportunity to experience the World’s Best Business Class - togetherQatar Airways is inviting travellers to plan the perfect trip for two with an exclusive C... more

November 02, 2016 10:09:09

An Audience favourite Star set the Stage on fire at BNU University for Huawei Live

LAHORE:: With each passing day, Huawei Live is building great hype and excitement among the youngsters. The winning strategy of Huawei i.e., to get the jury members, the renowned singers, mixed-up with youngsters on the ground, is taking the energy o... more

October 19, 2016 14:29:10

Meezan launches whole new range of beverages

The grand Corporate Launch of Mezan Beverages recently took place in Lahore at the Royal Palm Golf and Country Club on 28th August. More than 1700 people from the Business, Trade and Corporate community attended the Gala Event. The event was graced b... more

September 08, 2016 11:38:08

GroupM digital day; The New Me

GroupM Pakistan has always been a step ahead of the curve. From understanding the market needs to being prepared to address new consumer trends, GroupM connect has always led the competition.Taking the ‘NEW ME’ agenda forward, we have organized a... more

August 18, 2016 07:59:14

Lahore Qalandars and Jazz to Promote Grass Roots Cricket

LAHORE: Lahore Qalandars, Pakistan Premier League’s most avidly followed cricket club and Jazz, the Nation’s beloved telecom brand, have announced ‘The Jazz Rising Stars’ initiative across Punjab. This move has been made to further the develo... more

August 17, 2016 09:55:48

Warid Launches Super & Unlimited Monthly Bundles for its New Postpaid Customers

LAHORE: Pakistan’s most reliable and trusted cellular operator, Warid Telecom, today announced the launch of Super Monthly Bundle for its new Postpaid customers. This unique bundle offers 1,000 free minutes on Warid network, 250 free minutes on oth... more

August 15, 2016 06:37:30

Jazz to Welcome New Subscribers with Free Internet

Islamabad: Jazz has announced 500 Mbs of free data on purchase of all new prepaid Jazz SIMs. This move has been made to welcome new subscribers of Jazz to the network and enables them to experience the country’s fastest 3G on their smartphones. Spe... more

July 01, 2016 09:42:08

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