Social Impact Assessment of Microfinance Programmes - weman

percent for the MF Industry in Pakistan. The return on equity (adjusted) fares quite well
at 13.31 percent as compared to Kashf’s peer group in Pakistan at -497 percent. Yield on
Portfolio is around 38 percent as compared to 14 percent for the industry in Pakistan.
The key to Kashf’s success lies in the fact that it is a dynamic and growing organization.
At Kashf active research and innovation is encouraged at all levels. It is highly
decentralized, which has put loan officers and the field staff at the fore front of all
operations and thus enabled Kashf to expand efficiently. However, the organization needs
to concentrate on maintaining portfolio quality and offer a wider range of products and
services to cater to the needs of its clientele.
8.2 Survey Results
In this section we present the results from our survey for Kashf. The results are based on
the data collected on the basis of the questionnaire – see the Appendix of the Report. A
select few of the results are presented here in table form, in the main text of this Chapter,
while the substantial majority of tables are presented in the Appendix of the Chapter. The
Appendix to this Chapter contains the largely ‘descriptive’ tables and results, while the
tables which are part of the text in this Chapter, are the more ‘analytical’ tables. In the
Appendix to this Chapter, there are far more tables than those on which we offer
comments in the text. Many of these tables are simply informative and so we do not
discuss them in the Chapter. They are being provided for the reader’s own interest and
perusal. Only the more interesting, striking or pertinent results and tables from the
Appendix are discussed in the text.
As we show in Chapter 2, the survey was conducted across four types of populations for
the purposes of the Study. Two of the categories are ‘clients’ or ‘borrowers’, while the
other two are ‘non-clients’. In the borrower/client category, there are two types of clients,
the ‘Active Borrowers’ and the ‘Pipeline Borrowers’. The former category that of ‘Active
Borrower’, is that client who has been in the programme of the MFI for longer than ten
months; s/he may have been a client for some years in their nth loan cycle or may have
even been a client in their first year. ‘Pipeline Borrowers’ are classified as those new
clients who had joined the programme of the MFI a few months – usually between 1-4
months – of the start of our survey. There are also two categories of ‘Non-Borrowers’,
one which are selected from the neighbourhood of the old Active Borrowers, and the
other from the neighbourhood of Pipeline Borrowers. Ideally, and in the best case
possible, the Active Borrower and the Pipeline Borrower (and their neighbours) should
have been chosen from ‘old/established’ areas where the MFI has been working for some
years, and ‘new’ areas where they are about to enter an identify and enlist clients.
However, in many cases this was not possible since most MFIs did not have exclusively
‘new’ areas identified, and we were forced to take Active Borrowers and Pipeline
Borrowers, and both sets of their neighbours, from the same locality/area. Nevertheless,
this does not undermine our results which are presented in this Section. In some cases we
present results where we compare the Active Borrower with Pipeline Borrowers, and in
some cases we compare both Active Borrowers and Pipeline Borrowers with the two
combined categories of neighbours, that of Non-Borrowers.
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