2010 micro-entrepreneur awardees named

2010 micro-entrepreneur awardees named

November 24, 2010, 8:38pm

 MANILA, Philippines – Citibank Philippines and the Citi Foundation, in partnership with the Bangko Sentral ng Pilipinas (BSP) and the Microfinance Council of the Philippines, Inc. (MCPI), recognized 11 outstanding Filipino microentrepreneurs during the 2010 Citi Microentrepreneur of the Year Awards held at the Metropolitan Museum of Manila last November 17, 2010.

Now on its eighth year, the awards program has been successful in increasing awareness of microfinance, and providing incentives for microentrepreneurs to enhance technology, improve production, and accelerate income-generating activities.

Addressing the winners and the guests during the ceremonies, Bangko Sentral ng Pilipinas Governor Amando M. Tetangco, Jr. said: "We continue to be amazed with the variety and scope of microenterprises that have survived birth pains, cyclical trends, and financial constraints to become inspiring success stories that benefit not only their immediate families but also their communities."

“The Citi Microentrepreneur of the Year awards was introduced here in the Philippines in 2002,” related Citibank Philippines’ Country Head, Sanjiv Vohra.

Through the years, the inspiring stories of awardees have served as motivation for other microentrepreneurs to succeed in their own fields. This year, Citibank and the Citi Foundation gave more than P1 million to deserving awardees in various categories.

The Masikap Award is given to micro-entrepreneurs who successfully started a business that is now a reliable source of income for the family. The asset size of the micro-enterprise in this category must be below P300,000. Under this category, one National Awardee gets P200,000, while three Island Group Awardees receive P100,000 each. This year’s National Awardee is Ester Lumbo, a manufacturer of bags made from pandan leaves, from the Visayas. The Island Group winners are: Pawid trader and duck raiser Zenaida Avellaneda from Luzon; Turmeric tea grower and trader Mary Jane Reyes from the Visayas; and Carinderia owner Analiza Candole from Mindanao.

The Maunlad Award is given to microentrepreneurs whose businesses are generating employment for other people aside from household or family members. The asset size of the microenterprise in this category must be between P300,000 to P1 million.

As with the Masikap category, one National Awardee gets P200,000, while three Island Group Awardees receive P100,000 each.

This year’s National Awardee for the Maunlad category is Nora Bagaforo, fisher and sari-sari store owner from the Visayas. The Island Group winners are: Farmer Elma Gabriel from Luzon; organic farmer Enrico Jingco from the Visayas; and owner and manager of a Manpower services company Letecia Tabotabo from Mindanao.

Special Awards are also given to three microentrepreneurs engaged in agriculture, green or sustainable enterprises, and businesses operating in hard-to-reach areas. These awardees receive P75,000 each.

Farmer Herminigildo Dulatre is the winner in the Agriculture category, copra harvester Lourdes Acuna bagged the prize in businesses operating in hard-to-reach areas category, while recycler Ismael Adiaton won for green or sustainable enterprises.

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