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The CMA program aims to raise awareness about the importance of micro entrepreneurship and microfinance in supporting the financial inclusion and economic empowerment of low-income individuals. The awards ceremony is intended to highlight award winners, engage high level country stakeholders, and generate local and national media coverage to help build that continued awareness. These efforts encourage policymakers to recognize micro entrepreneurs as key drivers of their local economies, and to ensure that their policies support growth and development of the sector. If successful over the long-term, we expect that the number of microfinance clients will grow along with the number of successful micro entrepreneurs.
In 2016, we distributed $58,800 in grants for the Citi Micro-Entrepreneurship Awards Program. The ceremony was held on December 15, 2016. We awarded prizes to:
(1) Youth Entrepreneur of the Year
(1) Woman Micro Entrepreneur of the Year
(11) Successful business
(11) First Runners Up
(12) Second Runners Up
(1) Successful Business Ran by Physically Challenge
(1) Most Innovative MFI (reward of recognition)
The program engaged with 103 micro entrepreneurs through the application process, 10 high level country stakeholders including the Minister of Social Affairs, and 150 attendees overall; The Youth Entrepreneur of the Year was Kamale Shikri el Frin, who started a copy center and a technology center in his hometown and he employ several youths for his business. The woman Micro Entrepreneur of the Year was Raida Mohammad Mattar, who started a blacksmith workshop, a male dominant craftsmanship. Her business is flourishing and she represent a unique case and a row model in her society, being in a rural and conservative area.
