50% of Tekun funds for women entrepreneurs

by BERNAMA / pic by TMR file

AS MUCH as 50% or RM250 million of the RM500 million provision to the National Entrepreneurial Group Economic Fund (Tekun) has been specifically allocated to women entrepreneurs.

Minister of Agriculture and Agro-based Industry Datuk Seri Ahmad Shabery Cheek (picture) said the instruction was enforced this year in line with the government’s announcement that 2018 is Women Empowerment Year.

He said as an institution which provides micro funding and support services for entrepreneurial development, Tekun must move forward and become the pillar for women empowerment in economics and finance.

“People may look at women empowerment only from the aspect of 30% involvement of the group in policymaking but for this ministry, the scope is on a larger context.

“Empowering women also carries the meaning of building financial and economic freedom, taking them out of a situation of dependence on others… and this role can be played by the ministry through Tekun,” the minister said after launching the “Tekun Pay” application in Putrajaya yesterday.

Ahmad Shabery said priority for the loans is given to women after taking into account their payment record, which is better and more organised than their male counterparts. Since it was set up in 1998, 216,825 women have received Tekun aid compared to 185,434 men.

On the Tekun Pay application, Ahmad Shabery said since it was introduced last July, there have been 2,391 downloads, with a total of RM197,000 collected from use of the application.

Developed in collaboration with RHB Islamic Bank Bhd, Tekun Pay enables a person to check his/her accounts and from payments, and can be downloaded on Playstore and Apple IOS. — Bernama