Micro-funding partnership to empower B40 women

Madcash Sdn. Bhd., a leading fintech platform, has recently announced a groundbreaking partnership with the Penang Women’s Development Corporation (PWDC) to support and empower B40 women entrepreneurs in the state of Penang. The collaboration aims to provide micro-funding to 60 women entrepreneurs who will participate in an upskilling program called Wanita Jana Rezeki, scheduled to run from September until November.

Empowering women for a better future

The micro-funding initiative by MADCash is specifically designed to offer financial assistance to women entrepreneurs from the B40 community. Each of the selected 60 participants will receive RM1500 to cover the expenses of attending a specialized course in either culinary, tailoring, or confinement. By providing financial aid for these courses, MADCash and PWDC hope to equip these women with valuable skills that will enable them to thrive in their respective fields.

Women entrepreneurs interested in availing the micro-funding will be required to apply through MADCash’s online platform. The funding comes with a unique benefit of being interest-free, and recipients will have the flexibility to repay the amount over a period of ten months. This thoughtful approach ensures that the financial burden on the entrepreneurs remains manageable while they focus on honing their skills and establishing their businesses.

The Wanita Jana Rezeki program, spearheaded by PWDC, aims to empower women from the lower-income groups to create sustainable income streams for themselves. The current iteration of the program focuses on three areas: culinary, tailoring, and confinement. Participants will undergo intensive training for three months, led by qualified instructors, to develop their skills and produce products that cater to market demands.

Ms. Ong Bee Leng, the CEO of PWDC, expressed her enthusiasm about the collaboration with MADCash. She emphasized that this partnership would enable them to reach even more women entrepreneurs who require support in establishing or expanding their businesses.

“We believe with financial means being met, fewer conflicts will arise in a family due to financial constraints. It helps to build a more harmonious household,” Bee Leng added

Continuous support for sustained growth

Nuraizah Shamsul Baharin, Managing Director of MADCash, assured that the support for these women entrepreneurs would extend beyond just the initial funding. The aim is to ensure the continuous growth and success of these women entrepreneurs on their entrepreneurial journey.

“MADCash will continue to monitor the progress of the women and they will get support from us in the forms of financial and business upskilling, network, mentoring, and peer support valued at RM3,000 per person. This is to ensure their continued growth,” Nuraizah explained

The collaboration between MADCash and PWDC highlights a significant step toward empowering women entrepreneurs in the B40 community, providing them with the means and skills to improve their livelihoods and contribute positively to society. As the program commences in September, anticipation grows for the transformative impact it will have on the participants and the communities they serve.