KUALA LUMPUR, Nov 16 — The SME Bank’s iTekad Penjana Community programme has empowered 249 B40 micro-entrepreneurs this year, comprising single mothers, the asnaf (tithe recipients), persons with disabilities (Pwd) groups and students, to raise their living standards.
Entrepreneur Development and Cooperatives Minister Datuk Ewon Benedick said the programme, involving a RM1.24 million allocation this year, has also produced many new entrepreneurs among the asnaf group, who are now zakat (tithe) contributors instead of being zakat recipients.
“… SME Bank succeeded in implementing the programme, which not only changed the quality of B40 entrepreneurs but also comprehensively made a big impact on the micro, small and medium enterprise (MSME) industry in the country.
“Entrepreneurs who joined the SME Bank’s iTekad Penjana Community Programme recorded at least a 30 per cent increase in sales,” he told the press after the ceremony to hand over funds for the programme today.
The programme strengthened and developed the targeted groups’ businesses, not only during the Covid-19 pandemic but also to move forward in line with the ministry’s mission to create a holistic and conducive entrepreneurial ecosystem to support Malaysia’s socioeconomic development that is inclusive, balanced, and sustainable.
Ewon said that based on the Department of Statistics Malaysia, the MSME sector achieved an 11.6 per cent Gross Domestic Product (GDP) growth in 2022, exceeding the country’s GPD growth of 8.7 per cent.
SME Bank Group president and chief executive officer Datuk Aria Putera Ismail said the bank’s iTekad Penjana Community social financial programme began as a quick response to help MSME entrepreneurs, with 40 B40 entrepreneurs receiving funds amounting to RM40,000 during the Covid-19 pandemic in 2020.
The programme is tailor-made to empower low-earning micro-entrepreneurs and guide them towards financial durability.
At the event, the bank celebrated the achievements of its ten best participants in the SME Bank’s iTekad Penjana Community programme, whose monthly income increased up to 70 per cent since joining the programme.
— Bernama
