ISLAMABAD, April 4 (Muzaffargarh.City – 04th Apr, 2017 ) : The Citi-Microentrepreneurship Awards (CMA), delivered in partnership with the Pakistan Poverty Alleviation Fund (PPAF) and the Citi Foundation, on Tuesday to the national winners of the 11th Citi-PPAF Microentrepreneurship Awards here.
Muhammad Bashir and Zakiya Bibi named as the winners who took out micro-finance loans from Soon Valley Development Programme and Rural Community Development Society respectively, two responsible finance providers, which led to their inclusion in the awards.
Winner of the National CMA Microentrepreneurship Award, Male, Bashir developed a scrap sales and collection business. Bashir has seen demand for his business grow and is currently operating in Khushab, Punjab with aspirations to grow.
Based in a small remote community, Bashir contributes to the local economy and employs 28 people. Zakiya Bibi from Sheikhupura, Punjab manufactures rubber auto spare parts. Her business employs about 16 staff and has established a predominantly local supply chain.
To be eligible for the Citi-PPAF Microentrepreneurship awards, a business must have benefitted from an affordable loan from responsible finance providers, and must have contributed to the local economic growth in the community, province or city they operate in.
Other winners include Shamshad Fatima from Muzaffargarh in most innovative category, Muhammad Amir from Norwal in overcoming adversity category and Hina Mustafa from Lahore in positive impact on community category.
The young entrepreneur award went to Muhammad Zafer, 19 who bought an auto rickshaw to establish a regular livelihood and support his family. Chief Executive Officer of PPAF Qazi Asmat Isa, said over the past 11 years, the PPAF had recognised more than 400 micro- entrepreneurs who had transformed their own lives and whose impact on their surroundings communities was remarkable as they continued to contribute economically, create employment and most importantly, served as inspiration to those around them.
“These are the people who are typically overlooked by conventional financial services and who, through micro-finance, have found the means to realise their dreams”, he added. Managing Director Citi Pakistan said this as the 11th year of the Citi-PPAF Microentrepreneurship Awards in Pakistan and the depth and range of entries was testament to the continued evolution of the responsible finance sector-and industry that now serves a large cross-section of the society across the country.
“Whether in Islamabad or in rural Balochistan, it is inspiring to see how individuals and organizations are putting their communities at the heart of their business models, so that their enterprising clients can create jobs and support more inclusive economic opportunities and growth”, he added.