This collaboration has generated numerous innovations aimed at enhancing financial literacy for micro- and ultramicro entrepreneurs and accelerating financial inclusion. PNM Mekaar customers are among those who have benefited from the joining of these three entities.

BRI president director Sunarso said that while the ultramicro and micro, small and medium enterprise (MSME) segments have long been the backbone of the national economy, they had limited access to formal financial services such as banking. It was the hope that through UMi, these challenges could be addressed.

"As of June 2023, UMi has successfully integrated more than 36 million borrowing customers or debtors and 162 million microsavings customers,” Sunarso said recently.

“This is supported by 1,013 colocated office units [of Sentra Layanan Ultra Mikro/SENYUM] that are used jointly," he added.

To date, UMi has served 14.8 million underprivileged women through PNM's Mekaar financing product, which does not require collateral.

Currently, 110,000 leaders of PNM Mekaar customer groups have also become BRILink Mekaar agents to provide financial services, such as buying credit and money transfers, alongside their existing businesses. By becoming BRILink Mekaar agents, customers can increase their income and contributions to their household economies.

PNM president director Arief Mulyadi said PNM customers could use utilize the facilities offered by UMi to enhance financial inclusion. In opening a Simpedes UMi account, the disbursement process was now more structured and distribution risks were minimized compared to the previous, conventional method.

"Because this is the main goal of establishing Ultramicro Holding, to improve services for ultramicro entrepreneurs in addition to expanding opportunities to access financing," Arief added.

"With UMi and three entities together, the goal of improving the livelihoods of ultramicro groups has become significantly more achievable. It is not for us, but for bettering their lives," he emphasized.

Arief also said he was proud that 110,000 PNM Mekaar customers had now become BRILink Mekaar agents who continued to work diligently to provide maximum benefits for their families. Previously, PNM Mekaar customers had a single source of income, but they now had a dual income stream since joining as BRILink Mekaar agents.

"Any legal business opportunity that provides additional income for women, let's pursue it with enthusiasm," he urged.

PNM and Ultramicro Holding are committed to expanding financial inclusion for PNM Mekaar customers as part of their efforts to help support the development of healthy and prosperous lives in line with the social pillar of the government’s sustainable development goals (SDGs). Economic, social and environmental development are three of the five main pillars of Indonesia’s SDGs, along with legal and governance development.

"Beyond the 14.8 million we currently serve since 7.5 years ago, when we actually founded the PNM Mekaar lending group, we have supported nearly 19 million people. This is one of our contributions to financial literacy and inclusion,” said Arief.

“Literacy is about information or education. Inclusion is about their involvement in financial institutions. At least 14.8 million customers have actively participating in our assistance up to now," he added.

Since joining UMi on Sept. 13, 2021, at least 8.5 million customers have opened Simpedes UMi bank accounts at BRI.

Arief stressed that there was still more work to be done in the ultramicro segment, where many were still underserved due to a lack of access to formal financing sources, citing data that around 59.2 million MSMEs currently operate in Indonesia.

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