Sun Life renews support for Hapinoy’s ‘nanay scholars’

MANILA, Philippines - Staying true to its commitment to help Filipinos achieve financial freedom, Sun Life Financial-Philippines Foundation, Inc. renewed its support for microentrepreneurs by inking a new partnership with MicroVentures Foundation, specifically for its Hapinoy microenterprise development program.

Now on its second year, the fruitful partnership has Sun Life Foundation providing grants to finance the creation of training modules and the implementation of seminars targeted towards “nanay scholars,” or mothers who are sari-sari store owners, with the aim of educating them and their families on how to handle their businesses.

This is done through  three programs spearheaded by Hapinoy: Sari-Sari Store Negosyo Training Program (SSNTP), Masaya’t Masaganang Pamilya Seminar (MMP), and Community Store Continuing Education Program (CSCEP). SSNTP trains the sari-sari store owners on how to handle their expenses and operations; MMP ensures that handling and protecting the business is a shared vision among the family members; while CSCEP helps the micro-entrepreneurs maintain and further improve their businesses.

MicroVentures executive director Timothy John Agulto shared that after attending the training programs, the “nanay scholars” now make it a point to record where their money goes. “The simple act of record-keeping or paglilista has somewhat doubled their income,” he said. “That’s because they are able to properly monitor those who borrow goods from their store, which enables them to follow up on payments and track their own finances.”

This has made them more confident about handling their finances and as an effect, the “nanay scholars” are now inquiring more about how to save their money and how to acquire life  insurance.

The program, which piloted in Bulacan and Quezon during the partnership’s first year, is now being facilitated in Bicol. “If the first year of our partnership with Sun Life Foundation was about developing the programs, now it’s all about expanding them,” Agulto said. “This is why we’re very thankful that Sun Life Foundation has given us this latitude.” 

For the renewed partnership, more micro-entrepreneurs will be accommodated in the program. From 500 SSNTP scholars, the number has been increased to 750; 20 couples will now be included in the MMP, from the original ten; and the CSCEP, which accommodated ten scholars last year, can now be availed by 30 scholars.

Sun Life of Canada (Philippines), Inc. president and chief  executive officer  Rizalina Mantaring, who is also the chairman of Sun Life Foundation’s Board of Trustees,  said the company is very happy to partner with Hapinoy. “The training programs definitely match our own goal of promoting financial literacy to Filipinos,”  she said.