A series of nine Khmer language financial literacy videos funded by the United States Agency for International Development (USAID) and sponsored by several Cambodian institutions and NGOs – with the Cambodian general public and in particular young women entrepreneurs like target audience – created in the Kingdom at the end of last month.
In an October 3 press release, Deputy Governor and Managing Director of the National Bank of Cambodia (NBC) Chea Serey said these financial education and financial pathways guides will provide guidance to the Cambodian public and users. services to enable them to fully understand how to access and get the most from modern, efficient and intelligent financial services.
Sabine Joukes, country director of Pact Cambodia who has often worked with young women entrepreneurs, said these financial guides aimed to address many issues related to access to finance for young women entrepreneurs.
Joukes added that there were already solutions available in some cases for these entrepreneurs but their notoriety remained low, so increasing the knowledge, understanding and real access to finance of these businesswomen would open doors for them.
“We will make these documents available to funding partners and other stakeholders,” she said.
According to Joukes, more than 200 participants representing key stakeholders attended the event, including representatives from the US Embassy; CNB; Association of Banks of Cambodia (ABC); Cambodian Microfinance Association (CMA); Wing Bank (Cambodia) Plc; the capital of the bush; SHE Investment Co Ltd; Savings group of women as well as other development partners, NGOs, financial and educational institutions, state institutions and many young women entrepreneurs themselves.
Wing CEO Manu Rajan said women play a fundamental role in all economies today, including Cambodia. They run small businesses and are generally responsible for their family’s cash flow. Financial literacy is an important tool for women entrepreneurs because it gives them important knowledge that enables them to manage their home and small business budgets efficiently and effectively.
He said the financial pathways guides are a map to help young women entrepreneurs make effective decisions before concluding that they need financing and determining the type of financing that is right for their conditions, including the size. and the level of activity of the company.
Ceila Boyd, co-founder and director of SHE Investment, said the project would really highlight public-private partnerships, focusing on young women entrepreneurs and their voices.
“We are proud and happy to have contributed so far and look forward to seeing these resources help women make informed financial decisions in the future,” she said.
She said the nine videos will raise awareness and increase the financial literacy of all young entrepreneurs in Cambodia to strengthen their businesses. Viewers learn about financial access issues and secure financing options for male and female entrepreneurs to grow their businesses.
Kea Boran, representative of ABC and chairman of the board of directors of CMA, said the nine videos accompanying the financial journey guides are essential in helping Cambodian entrepreneurs, especially women, manage the financial aspects of their business. business, especially in the context of Covid-19.