As said by the world’s greatest humanitarian, Nelson Mandela, “Overcoming poverty is not a gesture of charity. It is an act of justice. It is the protection of a fundamental human right, the right to dignity, and a decent life.”
Poverty is a global phenomenon, and each country faces the effects of it in one way or another. Such is the case of a developing country struggling with a weak economy and growing inflation; poverty is an endemic issue in Pakistan. Therefore, significant changes are required in the local economic development for Pakistan which can improve the situation and offer opportunities for local governments, the private sector, NGOs, and civil society to work together to improve the local economy.
Furthermore, local government programs or non-profit organizations can resort to multiple and effective methods to curb the deep-rooted and pervasive problem of poverty. A few useful ways to reduce poverty includes:
1. Creation and increased access to formal jobs and businesses.
2. Development of entrepreneurial talent through skills training and capacity building.
3. Provision and access to basic needs such as clean water, healthcare facilities, sanitation, education, sufficient food, and shelter.
4. Empowerment of the underprivileged through their involvement in the programs which are developed to reduce poverty. Their participation reflects the essential factors required for the eradication of poverty.
In Pakistan, several non-profit organizations are working to alleviate poverty. Each of these organizations contributes to their ways to facilitate the underprivileged. One such renowned non-profit organization is Seed Out.
Seed Out is a not for profit microfinance organization founded by Zain Ashraf working on providing zero-interest loans to deserving individuals living below the poverty line. Seed Out is a crowdfunding platform with a significant focus on delivering quality and low-cost microfinance services in an attempt to alleviate poverty. Seed Out provides sustainable entrepreneurial solutions to the underprivileged, which is more beneficial than traditional charity and relief work.
Seed Out assists aspiring micro-entrepreneurs in different ways. They are provided with quality training and support to earn a sustainable income and live a settled and productive life. Moreover, Seed Out’s innovative micro-financing model and robust micro-funding platform ensure that the donations from its donors reach the beneficiaries of their choice. Instead of providing hard cash to its recipients, Seed Out sets up businesses and focuses on the entrepreneur’s capacity building.
With Seed Out, donors remain confident that their donation is delivered to the right people. 100% of the donations are utilized to set up businesses for potential micro-entrepreneurs. Seed Out’s transparency system allows the donors to track their donations and keep an eye on the beneficiaries’ business. The beneficiaries’ complete address, contact details, and Google pin location are shared with the donor. The donor can easily reach the beneficiary and track his or her progress on the donor dashboard.
Seed Out’s team recover the loans from the borrowers in easy installments. The recovery is revolved for new projects. Seed Out does not take any interest; therefore, the principle that is recovered is also put back into the organization to generate more entrepreneurs in the future. It gives rise to a sustainable, self-driven circle whereby every entrepreneur helps in creating new entrepreneurs as they pay back their loans.
