CEBU, Philippines — Young Cebuana women from low-income families are given the opportunity to thrive in business through a developmental program initiated by RAFI Microfinance Inc. (RAFI MFI) and the Banilad Center for Professional Development (BCPD).
“RAFI MFI and BCPD will work together to implement the program to help these young women to embark from a journey of education to becoming self-employed micropreneurs,” said Jonar B. Dorado, RAFI MFI chief operating officer, during the official launching of the tie-up held virtually on November 4, 2021.
The partnership was sealed through a Memorandum of Agreement signing between Elizabeth Lopez, School Director of Banilad Center for Professional Development (BCPD) and Jonar Dorado, Chief Operating Officer of RAFI Micro-Finance Inc. (RAFI MFI).
Dorado said that RAFI MFI and the BCPD would provide these young women beneficiaries training, mentoring and livelihood opportunities that could help uplift their lives from poverty.
“We are very grateful with our partnership with RAFI Micro-finance Inc., because BCPD graduates are assured to break the cycle of poverty within the family and uplift their living condition through the various programs of RAFI,” said Elizabeth Lopez, BCPD School Director.
Lopez noted that the partnership will serve as a vehicle for them to become an entrepreneur using the skills they learned from BCPD. RAFI MFI will also give them the opportunity to undergo On-the-Job Training to help them eventually get employed.
Under the program, RAFI MFI will give them access to its Clustering Livelihood program where livelihood starter kits will be provided, opening them to RAFI MFI’s financial and non-financial services that will help their starter enterprises off the ground.
RAFI MFI will also engage the beneficiaries to choose a viable and socially sound starter enterprise that they can sustain. They will also provide qualified scholars and beneficiaries access to the Mauswagon loans, which can help them with the needed capital for their planned small business undertakings.
Beneficiaries of the program will also be given assistance in terms of guidance or “handholding” and market linkages such as the one offered in RAFI MFI’s Clustering for Livelihood program specifically for BCPD alumnae.
BCPD, on the other hand, will provide the Tesda-accredited training and mentor the program’s scholars and beneficiaries so that they would have the know-how to help them sustain their livelihood.
The partnership intends to support, facilitate, and implement the mutually agreed programs that elevate the lives of the clients and beneficiaries of both organization in the common areas of operation.
The Microfinance Program of the Ramon Aboitiz Foundation, Inc. (RAFI-MFI) provides financial and non-financial services to micro-entrepreneurs with a mission of elevating lives of the vulnerable and disadvantaged communities through stable and rewarding livelihood.