Karandaaz is a UK funded non-profit company that promotes access to finance for SMEs. Karandaaz Pakistan along with UK’s Department for International Development (DFID) had recently organized the 2nd round of the Entrepreneurship Challenge (WEC 2019) to enable the growth of women-led businesses.
The challenge saw to the organization signing investment agreements with seven small and medium enterprises (SMEs) that are led by women. The business that have signed with include: New Age Flour and General Mills, M-Tex, Web Work Solution, Lel, Noha Global, Kamal Impex, and Saira Rizwan.
Moreover, during the second round of the WEC 2019, Karandaaz provided business advisory support to 19 women-led businesses all across Pakistan.
Joanna Reid, Head of DFID Pakistan speaking on the occasion said, “Women empowerment is at the heart of the UK’s work in Pakistan and through Karandaaz Women Entrepreneurship Challenge, we have supported women all across the country. I am delighted to see the growing segment of women entrepreneurs who are ambitious, innovative and dare to experiment for the growth of their businesses to become leaders in their fields. Economies will only thrive when women get the same opportunities as men. DFID Pakistan believes in empowering women and is passionate in achieving the goal of a prosperous and inclusive Pakistan.”
Furthermore, Mr. Ali Sarfraz, CEO Karandaaz added, “Women Entrepreneurship Challenge is now successfully entering its third year and we will soon be opening the call for applications for the 2019 cohort. We are very impressed with the quality of applications we received this year and are confident that there are many promising women entrepreneurs across Pakistan who can benefit from this year’s program.”
Investments like these are crucial for endorsing the role of women in the industry and creating a space that promotes gender equality. Moreover, according to the United Nations Development Program Pakistan (UNDP), in recent years, there have been important developments in gender equality in Pakistan and such initiatives are one of the major factors for such a development.
