'Financial literacy, a gateway to progress'

In partnership with Kashf Foundation, a leading microfinance institution in Pakistan, the United States Agency for International Development (USAID) through its Entrepreneurs Project has successfully provided "Basic Financial Literacy Training" to more than 70,000 women micro entrepreneurs to enhance their economic role and to improve their decision-making power in their businesses.
The Basic Financial Literacy Training programme started in June 2010 aiming to reach out to 64,000 women micro entrepreneurs but due to Kashf team's diligent efforts, the target was over-achieved and Kashf was able to train more than 70,000 women clients. Managing Director Kashf Foundation, Ms Roshaneh Zafar shared her sentiments that "The project allows women to determine the costs and benefits as well as the pros and cons that emerge from financial decision-making. It allows them to make more effective and informed choices - the dollar they earn and the dollars they save can make them sustainable and for this we are thankful to USAID for supporting us to take this initiative."
The basic financial literacy training focused on the female borrowers to re-iterate the fundamentals of good borrowing practices such as business planning, productive use of the loan, timely repayment, avoidance of over-indebtedness, increase in savings and knowing their consumer rights, which helped them to enhance their productivity and increase their income.
Head of operations, Kamran Azim shared his views regarding the impact of the project stating; "the support 'from USAID Pakistan Entrepreneurs project has helped Kashf to explore new Business modules for female entrepreneurship and has provided us with a platform where Kashf can further empower women through Financial Literacy." He added that Kashf will continue the financial training programme for its clients in the future and that it is going to become a regular feature of the client's business appraisal form.
While sharing her sentiments, a female client of Kashf foundation Ms Rozeena Baji praised the training programme for having a progressive impact on her life. She has now realised the importance of saving and budgeting and ever since the training session she has been recording her daily income and expenses. "I cannot express enough gratitude for inculcating the importance of managing finances in me. I have started to save money on a weekly basis which helps my daughter to continue with her education," Rozeena said. USAID in collaboration with Kashf Foundation has imparted both Basic Financial Literacy Trainings and Systemised Financial Literacy Trainings to female micro entrepreneurs.-PR