HONORED For successfully adopting digital technologies, 20 entrepreneurs were feted at the Citi 2nd Digital Financial Inclusion Awards. —RONNEL W. DOMINGO
MANILA -Twenty microentrepreneurs and five microfinance institutions (MFIs) were feted on Tuesday for successfully using digital solutions in their operations, with prizes given out during the second Digital Financial Inclusion Awards (DFIA) funded by Citi Foundation.
Implemented in partnership with the Microfinance Council of the Philippines and supported by the Bangko Sentral ng Pilipinas (BSP), the DFIA is focused on acknowledging and encouraging efforts to use innovative solutions to widen the reach of financial services across the nation.
Aside from the adoption of new technology, the DFIA also looks into how MFIs champion awareness and readiness to embrace digitalization in the way they do their business, as well as empower local communities for the country’s economic growth.
At the awarding ceremony held at the BSP Complex in Manila, BSP Governor Eli REmolona Jr. lauded the awardees for embracing digital technologies to grow their operations.
In particular, Remolona cited the awardees’ use of e-commerce, social media marketing and e-wallets.
Tight race
“The national selection committee had a really tough time choosing the finalists,” he said. “We hope your continuing work will serve as a model for your peers to follow.”
The committee is co-chaired by Remolona himself and Citi Philippines CEO Paul Favila. Members include Inquirer Group of Companies CEO Sandy Prieto-Romualdez, Trade Secretary Alfredo Pascual, Renato Solidum Jr., Joey Concepcion III,, Salve Duplito, Kelly Hattel, Lowell Campbell and Rachel Gumtang-Remalante.
The BSP chief added that the central bank will continue to foster an enabling regulatory environment so that more MSMEs benefit from digital financial innovation.
Each of the 20 microentrepreneurs who were recognized received a cash prize of P100,000 and a laptop computer.
They include Shirley Aguinaldo, Rhodora Angeles, Joseph Arriesgado, Normanita Banagudos, Anabelle Banquero, Salome Barile, Rhea Fhene Barte, Ryme Janelle Besonaya, Cecilia Jarilla, Nurfaida Jupakkal, Joy Maniaol, Marissa Palcat, Arlene Pant, Arlene Passion, Connie Rivera, Catherine Rugnao, Floricel Sanorjo, Fely Suarez, Estrelita Tuan and Marites Zulueta.
Awardees’ specialties
These awardees are engaged in businesses ranging from food production and processing, poultry, organic products to handicrafts, weaving and printing.
Also, five MFIs received P100,000 each, intended to help them continuously improve their digital financial services program.
These MFIs are CARD Mutually Reinforcing Institutions (CARD MRI), Kabalikat para sa Maunlad na Buhay Inc. (KMBI), Kabuhayan sa Ganap a Kasarinlan Credit and Savings Cooperative (K-Coop), RAFI Micro-Finance, and Rural Bank of Guinobatan.
Favila expressed hope that the DFIA will continue for decades to come, adding that the program reflected Citi’s continuous support in strengthening financial inclusion in the country.
“We are in awe of what you have all achieved with your respective businesses especially in such challenging times and for your contributions to your respective local communities,” Favila told the winners.
“Behind each of your successes, there is an inspiring story of strength, courage and determination,” he said. “These are the stories that contribute to the Citi Foundation continuing with its mission to enable economic progress and improve the lives of people.” INQ