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PNM wins 5 prestigious awards for lifting micro, small and medium enterprises
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P
ermodalan Nasional Madani (PNM) is proud to have been bestowed a total of five awards in recognition of its remarkable achievements across various categories.
The accolades were granted to PNM at the TOP Governance, Risk & Compliance (GRC) & Performance Excellence Awards 2023 held on Aug. 30 at Hotel Bidakara Jakarta in Tebet, South Jakarta.
PNM was recognized as The Best GRC for Corporate Risk Management in the financial services category, The Best CEO for GRC Excellence, and The Best Chief Risk Management & Compliance Officer.
The company also received this year’s Merdeka Award for its exceptional contribution to the empowerment of micro, small and medium enterprises (MSMEs) and the Indonesia Best Business Transformation award with a "very good" rating from the SWA Media Network.
As a non-bank financial institution, PNM is committed to providing ultra-micro financing from a modest sum of Rp 2 million without collateral to individuals who have been assessed for their eligibility. PNM's distinctive system of "tanggung renteng" (joint responsibility) is a driving force behind its success.
Built on a foundation of trust among ultra-micro businesses established primarily by women entrepreneurs, PNM provides a variety of training workshops aimed at enhancing their capacities and capabilities.
PNM's core focus is empowering its customers through the dual-pronged approach of providing financial support and mentorship, which work complementarily in contributing to the growth of MSMEs.
The prestigious awards bestowed upon PNM for the company’s initiatives in MSME empowerment also acknowledge the impressive strides made by ultra-micro entrepreneurs in embracing digital solutions. PNM's Mekaar customers are currently benefiting from cashless financing as they actively participate in training programs on digital marketing and digital recordkeeping.
PNM currently channels its financing initiatives through 4,490 branches across Indonesia to reach millions of customers.
Since its establishment in 1999, PNM has undergone three major transformations as part of its mitigation strategy: the development of its ULaMM product, the introduction of its Mekaar product and the business’s digital transformation toward embracing Industry 4.0.
These efforts, the success of which is due to the comprehensive support it has received from various stakeholders, have led not only to a significant increase in the number of customers, but also to the empowerment of underprivileged women through skills enhancement.
Arief Mulyadi, the president director of PNM, expressed his satisfaction with the outcomes of PNM’s transformative efforts: "As a result of our transformation, we have emerged as the world's largest lending company, surpassing Grameen Bank in Bangladesh.
“With 14.7 million Mekaar customers, the success of PNM's transformation is undeniable. We remain steadfast in our commitment to customer empowerment through financing and mentorship."
Throughout these transformative efforts, the company has remained committed to robust practices in corporate governance that meet ISO standards, which are also embodied in regulations issued by the State-Owned Enterprises (SOEs) Ministry. They have positively impacted both the efficiency of PNM management as well as the quality of the services it provides, which in turn have cultivated trust among PNM’s customers and other stakeholders.
The support of Teten Masduki, the Cooperatives and Small and Medium Enterprises Minister, highlights the government's emphasis on fostering partnerships among MSMEs. The minister has underscored the significant achievements micro-entrepreneurs have made in scaling their businesses by leveraging the working capital provided through PNM's Mekaar program. He has also noted that the program has demonstrated its effectiveness in enhancing the capabilities of micro-entrepreneurs, thereby enabling them to reach new heights.
This year’s TOP GRC & Performance Excellence Awards granted to PNM is a testament to the company’s achievements and its dedicated focus on empowering MSMEs, which have earned it a distinguished position in the finance and business sectors. The recognition PNM has garnered thus far underscores its commitment to supporting and lifting MSMEs, which form the backbone of Indonesia’s economic growth and resilience.
