KARACHI: To promote women economic empowerment, Nestlé Pakistan partnering with Seed Out inked a memorandum of understanding, which would focus on promoting female entrepreneurs in semi-urban areas of Pakistan. This is also in complete alignment with United Nations Sustainable Development Goal (SDG) number 1, which focuses on ending poverty in all its form by creating more ventures for employment generation. Under this accord, Seed Out will take an initiative of setting up NESTLÉ’s ‘NESCAFÉDhaba Project’ in Muridke and Sadhoki. This will be a micro-finance project sponsored by Nestlé Pakistan which will help women set up Dhabas by giving them small loans. The repayment amount from this project will be put in Nestlé Pakistan’s revolving fund and upon completion of project and amount will be used to raise new entrepreneurs. Waqar Ahmad, Head of Corporate Affairs said, “Nestlé believes that women empowerment is vital to boost economic growth in Pakistan. We are looking for a long term impact by making a difference in rural areas. Research has shown support for women in entrepreneurship has been steadily on the rise across startup ecosystems worldwide, this trend can work wonders in Pakistan since women comprise 50 percent of our population.” Zain Ashraf, President of Seed Out, who has recently received 2018 Commonwealth Youth Award said that this partnership is another milestone that we have reached where we encourage women empowerment.Nestlé Pakistan joined hands with Seed Out as it is a not-for-profit crowd funding platform with vision of poverty alleviation from Pakistan. Seed Out raises micro entrepreneurs by in-kind sponsorship through interest free loans to set up their business and engage in sustainable economic activity.
Published in Daily Times, February 24th 2018.
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