Friday, May 09, 2008 Smart program enhances services of Negros women group
LEADING wireless services provider Smart Communications Inc. (Smart), through its social business enterprise (SBE) program, recently entered into a partnership with the Negros Women for Tomorrow Foundation (NWTF).
The Smart SBE program for microfinance institutions (MFI) aims to enable entrepreneurs and MFI borrowers via Smart products and services. NWTF is an institution providing a range of financial services such as savings, scholarships, micro-insurance and micro-credit to poor and low-income households in low-income and depressed urban and rural communities in Negros Occidental, Visayas and Luzon areas.
Through its Project Dungganon, which means "honorable," NWTF replicated the Grameen Banking credit process founded by Nobel Peace Prize winner Muhammad Yunus and adapted it to the communities in Negros Occidental.
With the Smart-NWTF partnership, NWTF programs for its borrowers are enhanced through the Smart MFI store program and the Smart microfinance program. Under the Smart MFI store program, NWTF members who are sari-sari store owners can now offer the Smart e-Load service to their community.
Meanwhile, the Smart microfinance program aims to enhance NWTF's loan services by making it possible to do loan collection and disbursement via mobile phones.
Under the same platform, NWTF borrowers will also be able to do loan application and payment from their mobiles phones. With the microfinance program, Smart and NWTF aim to empower micro-entrepreneurs and low-income households by expanding their access to mobile phone financial transactions.
The e-Load service and the microfinance program will be initially piloted at the NWTF branch in Cadiz, Negros Occidental.
"Smart's partnership with NWTF is part of Smart's continuing effort to offer sustainable business opportunities to microfinance institutions and its borrowers. With this partnership, NWTF members may have a source of additional income by offering Smart products and services in their own barangay.
Smart's microfinance program, on the other hand, enhances existing NWTF loan-related processes," said Smart group head for new business stream Jojo Malolos.
