SIMA are delighted to announce the recent regulatory NOC for its Non-Banking Housing Finance Company by the Securities & Exchange Commission of Pakistan (SECP). This is a major milestone in the formation of our first social enterprise business, Asaan Ghar Finance Limited. Being a FinTech platform it is easily replicable across geographies. SIMA intend to start replicating AGF in Sub-Saharan countries as well.
Affordable mortgage finance is a global challenge and has the potential of being a scaled development revolution as microfinance was more that 25 years ago.
Asaan Ghar Finance Limited (AGF) is a first of its kind FinTech affordable housing NBFC in Pakistan offering affordable mortgages backed by FinTech driven operations, transparency, affordability and product innovation. A huge portion of the Pakistani population are underserved in terms of access to home financing, with only 60,000 outstanding mortgages catering for the top 2% earning households. We estimate 2 million urban and 3 million rural households can benefit from AGF.
SIMA are pioneers in the impact investing space with a mission to provide demand-driven commercial capital and appropriate advisory solutions to create and scale profitable businesses with exemplary financial, social, and environmental impact. With a wealth of experience investing in emerging markets in South Asia and Sub-Saharan Africa, SIMA is committed to deploying demand-driven commercial capital in some of the poorest regions of the world.