Three of Khushhali Microfinance Bank’s (KMBL) successful clients received awards at 13th Citi PPAF Micro entrepreneurship Awards. The ceremony organized by Pakistan Poverty Alleviation Fund (PPAF) and Citi Foundation was held at Serena Hotel, Islamabad to acknowledge the triumphant micro entrepreneurs across Pakistan.
These awards were meant to highlight the efforts of micro entrepreneurs who have overcome extra ordinary challenges in their lives and utilized their micro-loans to build successful lives for themselves and their families.
“Through access to finance, Khushhali Microfinance Bank has enabled its clients to escape poverty cycle. Our clients have used loans to make their financial decisions independently to expand their trade and business.” said President KMBL, Ghalib Nishtar acknowledging the award.
“I would like to congratulate all three winners. I hope this achievement provides inspiration to other people with dreams of accomplishing their goals. KMBL is always there to support Pakistanis with a vision. I believe, people will let the possibilities inspire them more than the obstacles to discourage them”, he further added.
Gul Hassan, achieved the National Runner Up accolade at the 13th Citi PPAF awards. Gul Hassan availed his first loan in 2015, when he only had five goats and two cows to run his livestock trading business. He used his loans to invest in better breeds and upgraded his business. Now, his livestock has escalated to 20 goats and 6 cows.
Another KMBL client, Robina Bibi was declared the Regional Winner from Azad Jammu Kashmir area. Robina bibi is a courageous woman from a small village near Muzaffarabad. She availed loans from KMBL to invest in livestock and gradually expanded her business which she started from scratch. She managed to get a strong hold on her life and provided for her children after her husband’s demise. Today, she has repaid her loans successfully and her monthly income exceeds PKR 70,000.
Muhib Ali, a victim of 2012 floods was rescued by army and was transported to Nasirabad along with his family where they lived in tents for about six months. He started doing labour work and then started a small business to earn for his family. With effective utilization of loan, he was able to expand his business and improve life for his family. Muhib earns around PKR 100,000 every month and enjoys a good repute in the market place. In merely two years since setting up a shop, he has doubled his income. He was declared the Regional Runner Up from Balochistan.
Financial institutions like Khushhali Microfinance Bank have made significant progress over the last two decades in improving access to finance, especially for microentrepreneurs. Microfinance services have enabled masses to access formal financial services to invest in their enterprises and provide a better life to their families.