Alicia Alonzo
Tita Cory’s legacy lives on through Microfinance
We are marking today the second anniversary of the passing of our beloved former Philippine president and PinoyME founder. For many of us, Tita Cory Aquino has been a guiding light in our nation’s darkest epochs, our beacon in personal instances of weakness and confusion. To say we miss her is an understatement.
Our only source of comfort is that her life has provided us with examples that make her absence less difficult to bear. We in PinoyME feel as if somehow we are standing next to her again whenever a farmer who used to tire himself, harvesting food for others, can now provide food for the family. We feel like she is guiding us again whenever a handicraft maker who did not get the chance to sit inside a classroom is coming closer each day to seeing her child graduate.
For Tita Cory showed us that the simple act of caring for others can yield a revolution. She taught us that every Filipino empowered and lifted from poverty is worth all the sacrifice and hard work. She shared her entire life, giving more than she can give for the opportunity to lift our lives. Whenever we follow her example, it is as if we are striving to keep the light of her spirit alive.
I Love ME Contest
What’s not to love about microenterprises? They provide enterprising Pinoys with the chance to earn more prosperous lives for their families. They are our source for our favorite products—from yummy chicharon and bibingka to cuddly teddy bears and nifty bags and baskets. Moreover, microenterprises are a prime contributor to the national economy, making up 92% of Philippine business.
To celebrate its 4th Year Anniversary, the PinoyME Foundation invites you to show your love and gratitude for our hardworking microentrepreneurs through the I Love ME (Microenterprises) Contest. The prize: gift certificates for Rags to Riches, Gifts and Graces, and I am Ninoy/ I am Cory items.
All you have to do is answer either of the two questions “Why do you love microenterprises?” and “How does Tita Cory inspire you in your microfinance/ microenterprise work?” Post your answer in the PinoyME Facebook page, and if it gets the most likes, you win!
Here are the mechanics for the I Love ME Contest:
1. Like our page.
2. Post your answer in the PinoyME status line. Don’t forget to tag microentrepreneurs or microfinance practitioners you admire with your answers. Let them know their efforts are valuable to you.
3. Get your friends to like your post. The answer with the most likes wins. First place gets a P2500 gift certificate; seconds gets P1500; while the third placer gets P1000.
So show your wit and love for microenterprises. Post on Facebook now. The winners will be announced on August 1, our celebration for the life of beloved PinoyME founder and former president Tita Cory Aquino.
Sweet Success for PinoyME, Antique Cooperatives Partnership
Sugarcane farmers benefit from AFCCUI programs such as training and financial intermediation.
The seeds of AFCCUI were planted in 1963 when Mill Hill missionaries introduced the cooperative movement in Antique. Fifteen of 21 cooperatives joined hands in 1969 to establish AFCCUI to help strengthen cooperatives by providing services such as training, consultancy, financial intermediation, and networking. Its initiatives have generated a positive impact not only in the development of cooperatives, but also in lives of the members and other Antiquenos.
Aside from yielding profits for the farmers and banana chips producers, AFCCUI also has its own Microfinance Lending Program, which has empowered people like Richard Cajurao and Valentine Bolivar with micro-businesses that continue to flourish. Cajurao, who is married and has a child, acquired Php 3,000 from AFCCUI in 2007 as additional capital to start a sari-sari store. His business has expanded, and he has even bought a multi-cab as service vehicle. Moreover, his saving deposit has grown from Php 150 to 7,000.
Bolivar, who has two children, also availed Php 5,000 as additional capital for a sari-sari store in the municipal wet market of San Jose, Antique. The business has flourished, and has even allowed him to buy a house and lot.
PinoyME, Petron Fuel Changes in Limay, Bataan
The Sulong KaBarangay volunteers.
Decades after the 2nd World War, the residents of Limay, Bataan are still seeing their share of struggles—this time caused by a pervasive poverty, which is atrociously widespread in the Philippines. Much like the heroes of Bataan, however, the community is taking a stand against poverty and creating livelihood opportunities with a little help from the Petron Foundation, Inc. (PFI) and the PinoyME Foundation.
Community-driven development
Luz Almazan, a community development specialist who is working with the Limay residents, explains the living conditions there: “A significant portion of Limay’s land area (about 26%) is still devoted to agriculture. Major agricultural produce is rice followed by vegetables, mangoes, bananas and rootcrops. Farming is still a source of income especially for long-time residents of the municipality. Some are also into livestock production, particularly hogs, poultry, and goats. Limay also lies along the Manila Bay and some residents rely on fishing for their livelihood. They are experiencing though a decline in the fish catch as a result of depleted natural resource.”
She adds: “While there are various opportunities for livelihood in Limay, majority of the residents within the Petron Bataan Refinery’s (PBR) fenceline barangays of Alangan and Lamo remain poor.”
Accenture volunteers enable automation of MFIs
Every microfinance practitioner knows it requires more than funds to generate an impact in poverty alleviation. Lifting lives from poverty calls for dedication and patience—you have to be selfless in sharing your talents and knowledge.
It is hence inspiring to meet people like Alexander Anden, Jennifer Meily, and Mia Taroy—Accenture Philippines volunteers who are taking time off work to contribute their expertise to make microfinance a more successful tool against poverty.
Accenture is a global company that provides consulting services in business process outsourcing. Accenture has been active in the Philippines since 1985, and now employs about 20,000 staff in the country.
Alex, Jennifer, and Mia are the first batch of Accenture staff who will serve as pro bono consultants to MFIs seeking to automate their existing operations and client information. They are currently providing technical advice to help automate accounting and collection systems and data backup and documentation processes for Bicol MFIs to achieve greater efficiency.
They also served as the resource persons for the management information system (MIS) training. MIS is a general term for the system of organizing and managing information about one’s business operations. The training seeks to provide MFI workers with a perspective on how to apply information technology to this essential aspect of microfinance operation.
Dan Songco, president and CEO of the PinoyME Foundation, explained: “The training gives the MFIs a perspective on what it takes to have an automated system. PinoyME has conducted trainings like this before, but without the consultant we were not able to track its effect on the operations of the MFIs.”
“This is a unique intervention because no one else is doing this. We’ve had a lot of discoveries in our past training workshops, and one of them is how important the MIS is to both the MFI and the client. If you have a weak system, you would not know if your MFI is already suffering losses. That’s critical and what’s even more critical is computerizing that system. We’ve heard a lot of horror stories of MFIs hiring consultants to design software only to find out that it does not compliment their operations.
“The course helps them understand, ‘If you want to automate this is how to do it’. If we are able to help MFIs systematize their MIS, then we can really make the industry more efficient and we can make it grow faster and reach more poor people. The big MFIs can already afford to buy software and hire consultants. But there are only a few of those. The program targets the medium-sized MFIs who would not have the resources for automation. This is a strategic partnership with Accenture. We convinced Accenture that they can really make a difference in the microfinance industry if they partner with us in this program.” Read more »
Can Online People Power Fight Poverty?
DPC Yellow Pages presents a model of how corporations, MFIs, and consolidators work together in the People-Powered Markets Exhibit.
The unexpected visitor was former president Tita Cory Aquino. The women, upon noticing the PinoyME chairperson, scrambled to give her a decent seat. However, Tita Cory only gently asked them to ignore her and to continue their meeting. She was there to hear out what they had to say.
A woman asked shyly asked where she could get a loan of P2000 for a banana-cue kiosk. Another said she needed P5,000 to maintain her sari-sari store. As Tita Cory quietly listened to their plans, she became convinced that microfinance was the most potent tool to provide the women means to build more prosperous lives. With sufficient training and support, poor Filipinos can bring an end to poverty.
These were the lessons and the words she heard in Tatalon–words she gave voice to, and shared with businessmen, NGO workers, and others when she called out for support for her last advocacy–a new people power that would translate to better lives for more Filipinos, the People Power of Microenterprise Development.
“Over the past year, I have been inspired by the noble work of microfinance institutions which have reached out to the entrepreneurial poor, giving them the means to uplift their lives through honest and hard work,” she said in one of her last speeches. “The small but steady income from their microenterprises makes it possible for them to eat decent meals, to send their children to school and to nurture dreams of a better life.” Read more »
People-Powered Markets: Business to Empower the Poor
Twenty-five years ago, Deogracias “Sonny” Vistan took leave from work to join two million Filipinos in EDSA. It was an act of spontaneity and idealism that the veteran banker was not supposed to do. He then worked for a multinational bank that “preferred to take an apolitical position in its host country.” The trouble-free choice was for him to look the other way, to merely avoid the threats and hurdles of standing against a dictator. But the banker carried forward, casting his lot in an alliance of civilians, armed only with prayer and a conviction that “everybody wanted to join the journey into a new hope.”
Fast forward to the “People-Powered Markets” (PPM) exhibit, a gathering of businessmen, microentrepreneurs, and NGO workers to celebrate the 25th People Power Anniversary and the work of the private sector in developing microenterprise as an instrument for poverty alleviation. As Vistan readies to introduce President Benigno Aquino III, the keynote speaker in the event, it would seem as if the conviction and hope continues to be heartfelt in the former Land Bank president. The dwindling of the crowds in EDSA, the seeming failure of the first People Power has not worn off his resolve to bring about a better tomorrow for the country. This time he and other businessmen like Philippine Long Distance Company chair Manny V. Pangilinan, Philippine Investment Management, Inc. president and chief executive officer Ramon del Rosario, and renowned accountant-philanthropist Washington Sycip have cast their lots in a new revolution—the People Power to end poverty through microfinance and microenterprise development.
Value chains that work for the people
In 1986, it was People Power icon and former president Corazon C. Aquino who united Filipinos to restore democracy. More than two decades later, the businessmen were again following her “moving spirit” to gather and strive to empower others with microenterprise. PPM shows the unity of the business leaders with various entities—consolidators, universities, NGOs, and microfinance institutions–as “value chains that work for the people.”
A value chain is a physical representation of the various processes that are involved in producing goods. There is a value chain for instance between Jollibee Foods Corporations (JFC) and farmers from Nueva Ecija and Bukidnon. Jollibee partners with the farmers for its requirement of fresh ingredients like onions and bell peppers. However, the two would not have been able to transact without the collaboration of The Catholic Relief Service Philippines (CRS), which promotes market-driven strategies to facilitate farmers’ participation in the mainstream market, the National Livelihood Development Corporation (NLDC), a government corporation that provides for the credit needs of farmers, and the Alalay sa Kaunlaran, Inc. (ASKI), a microfinance institution that directly delivers the funds to the farmers cooperative. The chain hence also includes CRS, NLDC, and ASKI, aside from Jollibee and the farmers.
Speech of President Benigno S. Aquino III on the 5th Anniversary of PinoyME
President Benigno Aquino III views the products of microentrepreneurs at the People-Powered Markets Exhibit and 5th Anniversary of PinoyME
[Please view video here.]
Twenty-five years ago, we introduced People Power to the world. We proved that tyranny can be toppled by peaceful means. This week, we are once again reliving the events that transpired in Metro Manila’s streets in February 1986.
We are doing this not out of mere nostalgia, but rather to recognize that it was only the beginning of a greater revolution, one that continues to this day. The spirit of change that invigorated and empowered our countrymen to take the streets has been channeled into a continuing commitment to making every Filipino part of the solution to our problems. Suffice it to say: People Power lives, and it has already manifested itself in many sectors of our society.
It was originally my mother who wanted us Filipinos to continue tapping into the spirit of People Power so that we may create better lives for our less fortunate countrymen. And I must congratulate PinoyME for doing just that through their continued work toward giving our countrymen more opportunities to defeat poverty through their own efforts—specifically through microfinance and microentrepreneurship.
These activities of PinoyME have been a significant help in our administration’s efforts to alleviate poverty. Through your help, less fortunate Filipinos are able to earn additional income. This reduces their dependency on state subsidies, and strengthens their resistance to external shocks such as calamities or family emergencies.
But in fact, all microfinance institutions deserve recognition for taking the lead in promoting a lasting way of lifting the poor out of poverty. In their own right, they are also revolutionaries. The risks they have taken in lending to the poor have long been considered unbankable—but they did it. They developed a unique model in which profits can be made while the lives of the poor are improved. In short, they changed the paradigm of banking all over the world.
This means a lot for our private sector. A new opportunity for turning us into a nation of savers and entrepreneurs, and at the same time, another way of practicing corporate social responsibility has been introduced to them. Eliminating poverty in this country is no easy task, and if our private sector can make even larger contributions, then we will be able to help more people transform more lives.
On the part of this administration, we would like to tell you that we will continue the revolution that my mother and others started in making entrepreneurship among the poor a strategy for poverty alleviation. We will make microentrepreneurship one of the key elements of our framework for poverty reduction and inclusive economic development. Most of all, we will work to institutionalize the National Strategy for Microfinance that was formulated way back in 1998. We will also make sure that microcredit will not be used as a tool for political patronage. And we will likewise consolidate the remaining credit programs for the poor under the more competent branches of government to make them more efficient and effective.
Many of us here have backgrounds in Economics, so I should tell you: People Power is one of our country’s biggest competitive advantages. As Filipinos, we value this yearly opportunity to reignite our commitment to unity. We have this one event to look back to so that we can be reminded of our common dream: A Philippines that fulfills its great potential; a Philippines that can bring about a better quality of life for its citizens. And thus, we must keep utilizing this People Power to its fullest extent.
I applaud the People Powered Markets project as an effort by different stakeholders to give new meaning to people power—one that makes poverty alleviation a long-term social project. We must change the rules of the marketplace so that we can give the poor and the marginalized opportunities to participate in an even playing field. We must bring the disadvantaged sectors of our society into the mainstream of our economy if we want to restore our national pride and push our nation toward progress.
Addressing this challenge is a collective responsibility of all Filipinos. Each one of us must remember the time when the streets were buzzing with our genuine hankering for reform. And each one of us must act as if we are still wearing the same yellow ribbon in our hearts, and work as one nation, one Philippines, toward the fulfillment of the revolution that began in 1986.
And before I end, may I just share with you and prod your memories to remember what EDSA was? For us, the iconic image would be our citizens pushing against the behemoth tanks, armed only with prayers and love for their fellow Filipino, who in most instances was a stranger to them. They stood tall, they stood side by side, they were ready to give up everything if only to improve our lot. Those of you who want a changed Philippines, we must take care of the least of our brethren.
Thank you. Good afternoon.
[Please click the links to download the speeches of Ramon R. Del Rosario, Vicky P. Garchitorena, and Viel Aquino Dee.]
Accenture Philippines Donates to PinoyME Foundation
Accenture head of Corporate Social Responsibility Marilyn Sy and Managing Director Lito Tayag with PinoyME Trustee Washington SyCip and President/CEO Dan Songco
PinoyME will facilitate and manage the micro-enterprise skills-training program, using a portion of the funding to implement a basic entrepreneurship and microfinance training program for the spouses or selected beneficiaries of Accenture’s security guards and custodians. Trainees will be guided through a loan application process while taking business skills management courses. The remaining funds will be used as seed money, which microfinance institutions will lend to trainees who meet the criteria for acquiring business loans.
Lito Tayag, Accenture Philippines’ country managing director, said the project is close to the hearts of the company’s employees. “With this project, which draws on our people’s passion, experience and commitment to developing and nurturing talent, we hope to make a significant, lasting impact on the economic well-being of individuals who might otherwise become marginalized.”
The donation is a result of the combined efforts of Accenture Philippines’ 20,000 employees, who raised P200,000, and the Accenture Foundations, which provided P800,000 for the program. A portion of the fund will further the training of security guards and custodians who work for companies hired by Accenture, as well as finance a rural cooperative engaged in a viable market enterprise.
Source: The Philippine Star
People Power to provide poor with sustainable livelihoods
Can People Power bring about shared progress and prosperity for all Filipinos? PinoyME believes that yes, we can make it happen.
To commemorate the 25th anniversary of the People Power Revolution, we will gather with businessmen, miroentrepreneurs, and NGO workers at the NBC Tent, Fort Bonifacio, Global City from Feb. 22-23 to celebrate the work of the private sector in providing poverty-stricken Filipinos with livelihood opportunities.
The “People-Powered Markets” exhibit will also serve as venue for the us to discuss and plan how to build on the work of companies and microfinance institutions in engaging enterprising Filipinos in poor communities and empowering them with funds, training, and outlets for their products.
President Benigno Aquino III will attend the exhibit. Among the business leaders who will be there are Philippine Long Distance Company chair Manny V. Pangilinan, Philippine Investment Management, Inc. president and chief executive officer Ramon del Rosario, and renowned accountant-philanthropist Washington Sycip.
“We seek to bring about a People Power to transform the market into an instrument for shared progress for all Filipinos,” said Dan Songco, president and chief executive officer of the PinoyME Foundation, a key organizer of the exhibit.
“I am inviting all Filipinos who believe that we can bring growth to our lives and to society through hard work and unity. The exhibit will not only show models on how we can participate in supporting microentrepreneurs, but also share knowledge and encouragement for people to start their own microenterprises,” said Rapa Lopa, the favorite nephew of former President Corazon Aquino and president of the Ninoy and Cory Foundation, a partner in organizing the exhibit.
The other key organizers are the Philippine Business for Social Progress and the Directories Philippines Corporation.
