16th Citi Microentrepreneurship Awards launched
Bangko
Sentral ng Pilipinas (BSP) governor Nestor A. Espenilla, Jr. and Citi
Philippines CEO Aftab Ahmed jointly announced the launch of the 16th
Citi Microentrepreneurship Awards (CMA) during the recently held annual
conference of the Microfinance Council of the Philippines, Inc. (MCPI).
Since its inception in 2002, the CMA
awards program, a partnership among BSP, Citi Philippines and MCPI, with
funding support from Citi Foundation, has been steadfast in its commitment
towards recognizing entrepreneurs who have beat the odds, lifting themselves
and others out of poverty. The awards also recognize the strong support from
microfinance institutions as key partners, underscoring the role these
organizations play in financial inclusion and enterprise development.
In his keynote speech, governor
Espenilla took note of how digital technology has made an impact in the
development of microfinance in the country. “The digital revolution is
fundamentally reshaping the financial inclusion landscape and traditional financial
value chains,” he said. “Rapid digital innovations in financial technologies
have led to the emergence of more dynamic business models.”
"Amidst all the talk of
technology and disruption, it is only appropriate that we continue to showcase
inspiring stories through the Citi Microentrepreneurship Awards, which has
served as a vehicle for inspiring microentrepreneurs nationwide to achieve
greater heights,” says Espenilla.
The event saw the introduction of the commemorative
book “From Modest Dreams to Microentrepreneurial Triumphs,” which shares
success stories of past CMA winners, inspiring tales of winning against
adversity through hard work and perseverance.
In his remarks, Citi’s Ahmed
said: “The Citi Microentrepreneurship Awards are
about the passion, energy, and commitment of microentrepreneurs who want
to do better for themselves and their families. At Citi, we are proud to help
people pursue their dreams because we are committed to making a difference in
the communities where we live and work.”
Governor Espenilla and Aftab Ahmed
serve as co-chairpersons of the CMA National Selection Committee. Other members
include industry and community leaders such as Ayala Corporation president
Fernando Zobel de Ayala; RFM Corporation president and CEO Jose Ma. Concepcion
III; GMA Network, Inc. chairman and CEO Atty. Felipe Gozon; former Philippine
Daily Inquirer chairperson Marixi Rufino-Prieto; DTI secretary Ramon Lopez;
SPARK! Philippines trustee Imelda Nicolas; SM Investments Corporation vice
chair Teresita Sy-Coson; Voyager Innovations, Inc. president Orlando Vea;
National MSME Development Council-Mindanao Private Sector representative Mary
Ann Montemayor; and University of the Philippines Diliman chancellor Dr.
Michael Tan.
The awards are open to
microenterprises with business assets up to PhP3 million. The award categories
are Microentrepreneur of the Year Award, regional awardees from the three major
island groups (Luzon, Visayas, and Mindanao), Youth Microentrepreneur of the
Year, and special awards for agri micro-business, community leadership, and
green/sustainable business.
The national winner of the Citi
Microentrepreneurship Awards will receive PhP200,000 while the three regional
awardees, the youth awardee, and special awardees will each get PhP100,000. The
loan officers and MFI branches of each awardee are also given a cash incentive of PhP10,000. Semi-finalists
will receive a cash incentive of PhP10,000.
In addition to cash prizes, long-term
sustainability of the winning microenterprises is of vital importance, thus,
entrepreneurship training and mentoring is also provided at the Citi
Microenterprise Development Center.
0 comments