BANK Rakyat will be extending its Rakyatpreneur programme to assist the underprivileged (asnaf) and micro entrepreneurs in expanding their businesses.
Rakyatpreneur, a social financial initiative by Bank Rakyat, is aimed at helping these targeted groups to increase their income by at least 30%.
Bank Rakyat chairman Datuk Abd Rani Lebai Jaafar said Rakyatpreneur 1.0, which was kick-started in December last year, involved 20 micro entrepreneurs nationwide who earned between RM1,000 and RM3,000 monthly.
These participants were, among other things, each given RM5,000 and entrepreneurial training via webinars by the National Entrepreneurship Institute.
They were also provided guidance by the bank to ensure that they had the knowledge and skill sets to manage their business.
The initiative is seen as a way to build the skills of Rakyatpreneur participants so that they can become future customers of the bank.
It is also aimed at realising the United Nation’s Sustainable Development Goals to improve the well-being of communities in various aspects.
“We will continue with Rakyatpreneur 2.0 in July on a larger scale, with the involvement of some 300 participants, ” Abd Rani said in a pre-recorded video in conjunction with the virtual launch of the programme.
“Rakyatpreneur 2.0 participants will be monitored for a year, with comprehensive modules to produce entrepreneurs from the asnaf group, ” he shared.
Abd Rani said various programmes and initiatives had been planned with cooperation from local universities, government agencies and seasoned entrepreneurs.
“This strategic cooperation will improve the implementation of Rakyatpreneur, and is expected to increase their income by at least 30% while creating more job opportunities in future, ” he added.
Entrepreneur Development and Cooperatives (Medac) Minister Datuk Seri Dr Wan Junaidi Tuanku Jaafar said the programme was in line with the ministry’s initiatives to assist B40 entrepreneurs, including informal businesses, who were badly hit by the Covid-19 pandemic.
“Entrepreneurs from the B40 group, who were not registered, are among those impacted by the pandemic as most of them depend on daily income and do not have enough savings to cover their business costs.
“I hope Rakyatpreneur 2.0 will provide opportunities for the underserved communities in allowing them to realise their aspirations to be successful entrepreneurs.
He noted that entrepreneurs would face difficulties in continuing their business post-Covid-19, and they would need mental and emotional stability to weather the challenges.
“This programme will assist the participants in getting business funds, support, guidance, knowledge and new skill sets, ” he explained.
“It can empower local entrepreneurs and instil entrepreneurial culture among community members in line with the government’s aspiration to become a high-income nation.
“I hope Bank Rakyat’s support and guidance through this programme will be used optimally for businesses to recover, ” he added during the virtual launch.
Meanwhile, Bank Rakyat acting chief executive officer Datuk Syed Abdul Aziz Syed Hassan said, “The Rakyatpreneur programme has proven that the bank always tries to understand the problems of its customers, especially those from the underprivileged group.”
A video of Rakyatpreneur participants expressing their appreciation to the bank was played during the virtual event.
Seafood entrepreneur Azlan Osman, 36, from Sandakan in Sabah, said he was grateful for the opportunity to be a part of Rakyatpreneur as his income had been badly affected by the pandemic.
He said the bank’s financial guidance had helped boost his business.
Kuih seller Nur Hafisah Shohaimi, 30, from Manjung in Perak, said the funds she received under the programme went towards the purchase of essential items for her business, such as a flour mixer machine and a freezer.
She said the support and guidance helped her better manage her customers and business.
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