SAFCO MICROFINACE COMPANY (Private) Limited (“SMCL”) is a for-profit, non-depository microfinance company, operating as a lending company with Non-Banking Microfinance Company (“NBFC”) license regulated by the Securities & Exchange Commission of Pakistan (“SECP”). SMCL is a wholly owned subsidiary of Safco Support Foundation (SSF), one of the leading MFI operating in Pakistan.
SAFCO’s leadership wanted to further expand its functional scope and enhance its offerings to reach more deprived and marginal communities and individuals specially underserved women of the society with greater sustainability and provision of easy and accessible financial products on a larger scale. The idea was to engage a greater number of national and international investors and partners, increasing the company’s capital base to reach more clients and provide a broader range of financial products focusing on women inclusive financing. This also allowed us to be more competitive and scalable, and serve a larger customer base, mainly in underserved and remote areas, and tap into new geographic markets.
Therefore in 2022, SAFCO Microfinance Company (Private) Limited was established to provide social and economic empowerment to low-income households through provision of access to responsive financial offerings on a sustainable base. Today, SMCL in presence of its strong governance structure and adequate financial sustainability is catering to the huge unmet demand for timely and affordable finance to the unbanked communities; with financial and business solutions in socially, economically and environmentally sustainable approaches, through the efficient use of capital, technology and human resources.
SMCL Annual Report 2023
