TO uplift and empower women entrepreneurs from the B40 community, MADCash Sdn Bhd, the developer of MADCash (Multiply Assist Donate Cash) fintech platform, has announced a partnership with the Penang Women's Development Corporation (PWDC).
The effort aims to provide micro-funding to 60 B40 women entrepreneurs as part of an upskilling programme called Wanita Jana Rezeki, scheduled from September to November this year.
This initiative will give each participant RM1,500, sponsored by MADCash.
The funding aims to help cover the cost of specialised courses in culinary and tailoring, providing aspiring businesswomen with skills that will set them on the path to success.
INTEREST-FREE
An essential aspect of this programme is that the micro-funding will be interest-free, alleviating the financial stress of the recipients. The recipients will repay the amount over 10 months.
The vision of the Wanita Jana Rezeki programme, spearheaded by PWDC, is to equip entrepreneurs with expertise from instructors, help them produce products the market needs and furnish them with knowledge and skills to succeed.
By investing in education, practical training and mentorship, the programme aims to foster a conducive environment for business growth and financial independence for women from B40 households.
MADCash managing director Nuraizah Shamsul Baharin says the funding will enable participants to get education and skills from trainers.
"This is a crucial step that can turn them into better businesswomen and help them improve their livelihoods.
"We are delighted to join PWDC in this noble programme to support the B40 group in Penang."
PWDC chief executive officer Ong Bee Leng says: "The Wanita Jana Rezeki programme is designed to support women from the lower-income group to build their own stream of income.
"This year, the programme is focused on entrepreneur skills related to culinary, tailoring and confinement. The women will be given three months of intensive training to build their capacity in their field of interest."
HELPING MORE WOMEN
The collaboration between MADCash and PWDC opens up avenues to reach out to more women entrepreneurs in need of support in establishing or expanding their businesses.
By providing funding, the collaboration is expected to reduce conflict in families caused by financial constraints, leading to more harmonious households and stronger group bonds.
Beyond the initial micro-funding, MADCash says it is committed to long-term support of the programme's participants.
"MADCash will continue to monitor the women's progress and they will get support from us in the form of financial and business upskilling, network, mentoring and peer support, valued at RM3,000 per person. This is to ensure their continued growth," says Nuraizah.
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