Small businesses, lenders awarded

SIX microentrepreneurs, who made their future from nothing and fought against poverty, and two micro-lenders that helped small borrowers make their way up the prosperity ladder won prestigious awards yesterday.

M Abdul Mannan, state minister for finance and planning, handed the Citi Microentrepreneurship Awards among the winners at Bangabandhu International Conference Centre in Dhaka.

Citi Asia Pacific Corporate Affairs Managing Director Regina Seow gave away the prize money and Rokia Afzal Rahman, a former caretaker government adviser, handed over the certificates.

Md Ole Ullah from Sherpur in Chuadanga was recognised as the 'Best Microentrepreneur of the Year' in recognition of his long struggle against poverty.

Starting as a trainee worker, Ole Ullah went on to set up Janata Engineering, which provides parts and equipment of farm machineries such as tractor, power tiller, ploughs and harvesters.

He now employs 31 underprivileged people to run his two units -- one on his own 25-decimal land and the other on a rental basis.

“If someone works in the right direction, he or she will be successful,” he said.

Now that he is expanding his business he is facing problems in getting bank loans.

Subsequently, he urged policymakers and other stakeholders to find ways so that entrepreneurs like him can get bank loans easily.

Apart from the trophy, Ole Ullah received Tk 4.5 lakh as prize money.

Md Nur Islam Shekh from Devkhondo in Bogra came the runner-up in the category, winning Tk 1 lakh as prize money.

Fatema Khatun from West Kadirhut in Thakurgaon was recognised as the 'Best Woman Microentrepreneur of the Year' for setting up a factory named M/S Fatema Enterprise that makes mats and prayer mats from garment scraps.

In her journey towards prosperity from poverty, she has created more than 50 permanent jobs. From a Tk 2.5 lakh turnover per month, she now makes a profit of at least Tk 25,000.

Courage and willingness can make any woman successful, said Fatema Khatun, who started with a Tk 5,000 micro-credit eleven years ago.

She also received Tk 3.5 lakh as prize money.

Momena Akter from Mela Deshipara in Gazipur came runner-up; she won Tk 1 lakh as prize money.

Prohallad Barman from Chachra, Jessore was honoured as the 'Best Microentrepreneur of the Year in Agriculture' for riding out of the poverty trap through fish farming.

He passed his SSC exam with a first division, but could not continue due to poverty. Since his father used to work on others' fishing farms, Barman thought of using his expertise and started a venture of his own.

He leased a three-katha land and cultivated fish fry with investment of only

Tk 200.

Since then, he never looked back. Now, he owns four bighas of land and has 54 bighas as lease for fish farming.

Seeing his success, 15 others in the area were encouraged to do fish farming, said Barman, whose roster now includes seven full-time and 12 part-time workers.

He received Tk 3.5 lakh as prize money.

Md Usman Goni from Laxmipur in Chuadanga received the runner-up award in the category. He was given Tk 1 lakh as prize money.

Sajida Foundation won the award in the 'Best Microfinance Institution of the Year' category and received Tk 3 lakh in prize money.

The Centre for Development Innovation & Practice was recognised as the 'Most Innovative Microfinance Institution of the Year' and received Tk 4 lakh in prize money.

Addressing the function, State Minister M Abdul Mannan said the poverty level has come down to 22-23 percent from 44 percent six to seven years ago, while the extreme poverty level has dropped to less than 10 percent.

“We need to go further and for that, we need contributions from the private sector and individuals, as part of their corporate social responsibilities towards the nation.”

“You should do your CSR activities in such a way that the activities are for the interest of the common people,” he added.

Citi Foundation, the philanthropic arm of Citigroup, launched the Citi Microentrepreneurship Awards in 2005 to promote microenterprises and increase the awareness of the financial service needs of microentrepreneurs in the country.

The award is being supported by the Citi Foundation and implemented by Citibank NA and Credit Development Forum. Channel i, a leading private television station, and The Daily Star, the country's top-selling English newspaper, are the media partners.

Abdul Awal, executive director of the Credit Development Forum, also spoke.