An impressive display of the Citi Microentrepreneur of the Year awards program and winners greeted all participants to the first-ever National Microfinance Stakeholders Summit hosted by the Bangko Sentral ng Pilipinas on April 4 and 5. The summit brought together nearly 300 key players in the microfinance industry – policymakers, regulators, microfinance institutions, donors, rating agencies and investors.
The two-day summit celebrated the milestones of microfinance in the country, among which is the Philippines’ consistent high ranking in the international survey of countries with microfinance industries conducted by the Economist Intelligence Unit.
Microfinance champions: CCO Sanjiv Vohra with BSP Deputy Governor Nestor Espenilla at the Citi MOTY exhibit.
Microfinance is a key focus area in Citi’s citizenship efforts, in the Philippines as well as in other markets around the world. Citi Country Officer for the Philippines Sanjiv Vohra talked of the kind of support Citi provides MOTY awardees. “Our commitment to microfinance continues even after the trophies and prize moneys have been awarded. We are privileged to let the Citi MOTY winners take center stage at the Summit, as they are the ones that form the very core of the Philippines’ microfinance industry,” Vohra said.
The Citi MOTY Awards program is a nationwide search for outstanding Filipino microentrepreneurs. Funded by Citi Foundation, the program is implemented in the country by Citi Philippines together with BSP and the Microfinance Council of the Philippines, Inc. It was launched in 2002 in celebration of Citi’s centennial year in the country and has recognized more than 70 winners.
Citi MOTY winners enjoyed brisk sales during the Summit.
Five winners of the Citi MOTY Awards were given the chance to put their products on display. Consuelo Valenzuela, 2007 Citi MOTY Masikap National Winner and manufacturer of hand-woven products like ladies’ bags, happily reported that it is because of opportunities like this that she was invited by The Filipino Channel (TFC) to shoot a commercial talking about her products. TFC is a Filipino cable TV network available to viewers abroad.
Placing her 2006 Luzon Maunlad Awardee trophy alongside her decorative ornaments, Nollie Estocado said she has become accustomed to participating in similar exhibits, and credits the Business Advisory Services provided by Citi for her greater confidence. Nollie’s very colorful display of plant markers and tiny angels was an instant hit among guests and sold out quickly.
Other Citi MOTY winners who expressed their gratitude to Citi were Ester Lumbo, 2010 Masikap National Winner, manufacturer of hand-woven bags; Jennilyn Antonio, 2006 Maunlad National Winner, peanut butter manufacturer; and Lolly Cabigat, 2009 Luzon Masikap Awardee, woodcraft entrepreneur.