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Annual Report 2022

This Annual Report 2022 belongs to SAFCO Support Foundation-SSF annual business performance. Whereas, recently in July 2022 the institution has created a subsidiary for-profit company as SAFCO Microfinance Company (Pvt.) Limited – SMCL, the business commencement of SMCL is 1st August, 2022. This institution would like to keep this on record of readers of this report.

Historically, SAFC0 holds the journey of transformation since the beginning and have taken successful initiatives as a pioneer institution in microfinance sector in Pakistan from initiating the Credit Enterprise Unit to a Section 42 company and acquiring the NBFC license to promote the microfinance on large scale and have now leading to acquire the License as Pakistan’s First Entity transformation from “not for profit” to “for profit” Non-Bank Microfinance Company this year.

The transformation envisions to increase Access to Capital by allowing to access new equity and debt sources to increase the financial leverage having new investors onboarded and also provides the opportunity to Expand Financial Services by enhancing the ability to offer additional products and services where regulations permit, this will impact in increasing in outreach to extend services to large numbers of unbanked individuals. Moreover, this transformation will enable ownership, Improved Governance & Gain legitimacy with the shareholding structure in which the owners have a vested interests, liabilities and responsibilities and the diversified owned governance framework of the company will lead to more improved robust procedures in setting strategic plans, positioning in the market, responding to emerging crises and leading the management executives with Improved Efficiency and profitability.

I am thankful to the SSF board, the investors, our valuable employees and our reassured clients for their continual support and faith in SAFC0 since long, which has encouraged us to serve with the best in our vision and this is just a start of the journey towards the prosperity in the lives of our clients and sustainable growth of the company.

The OPERATIONS Department headed by Head of Business Operations, comprising of Zonal Managers, Regional Managers, Branch Managers and Loan Officers is the central front-line force of SAFCO. The department is responsible to ensure the execution of the business operations in lieu with the institute’s vision, mission and goals.

Debt Exposure

SAFCO prioritizes the investor’s  trust  and confidence as top most priority and continue its interaction, coordination, support and connectivity with all the investors and welcome all the due diligence and monitoring of the investors with satisfactory and appreciative remarks time to time.

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