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PNM envisions empowering underprivileged Indonesian women
The vision of PT Permodalan Nasional Madani (PNM) to empower underprivileged women in Indonesia is no longer a dream in the making.
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he vision of PT Permodalan Nasional Madani (PNM) to empower underprivileged women in Indonesia is no longer a dream in the making. Through a variety of literacy programs, the bank’s ultra microfinance customers have become increasingly aware of the range of financial products, business trends and diverse markets they can access to grow their businesses.
Starting with subsistence activities, customers can ease into increasing productivity growth as they gain their foothold in the entrepreneurship industry.
The number of female ultra micro entrepreneurs that PNM has actively assisted, financed and empowered in the first half of 2023 reached 14,667,860, a year-on-year (yoy) increase of 20.5 percent compared to June last year. As it enters the second half of this year, PNM is ready to continue providing its services to other ultra micro entrepreneurs who are yet to access to formal financial services that can empower them and their business ventures.
Looking beyond disbursing financial assistance, PNM believes its customers need more resources in addition to business capital. PNM knows that its ultra microfinancing customers generally run their businesses to meet their daily needs because they have yet to develop an entrepreneurial mindset. To help them achieve this, PNM focuses on providing business literacy, financial literacy and digital literacy programs as essential to their entrepreneurship education and reaching beyond their comfort zone.
PNM president director Arief Mulyadi said that digital skills generally seen as simple, including using e-commerce platforms and social media to sell their products and services, were very likely to seem complicated for ultra micro businesswomen. While female entrepreneurs were aware of these online platforms, he noted, they might not understand how to incorporate them as part of their business growth strategy.
"Digital technology is still very far from their daily lives [as tools] to help maximize their business. The approach must be gradual, starting with literacy, inclusion later. PNM will help facilitate this [transition]," said Arief.
One program that PNM offers involves working with third parties at exhibitions, bazaars and other events where PNM customers can sell their products to a wider market. Such experiences with fellow entrepreneurs can help set a benchmark for PNM customers so they can become more creative in building their businesses.
Customers eligible for PNM’s “extension” program are those who regularly attend the Business Capacity Development (PKU) training program and have proven capable of developing their business skills.
This year to date, PNM has provided 4,993 training sessions and facilitated the participation of 2,813 customers in 141 exhibitions, aside from holding its regular group meetings, both weekly and biweekly, which involve 806,000 customers.
"This is PNM's commitment to helping women be more empowered and free from the stigma of only being able to do housework," said Arief.
Arief believes that ultra micro businesswomen can only grow, as they have great potential.
“PNM is only present to encourage the potential they already possess but has been dormant so far, and to increase their confidence through routine group activities so they advance. These women have a big role in their capacity to go the extra mile," he emphasized.
