MANILA, Philippines - Following the national awarding ceremonies of the 12th Citi Microentrepreneurship Awards (CMA) held at Bangko Sentral ng Pilipinas, the seven winners had the chance to also share their success in intimate town halls held at their respective communities and provinces around the country.
The first event was held at San Jose del Monte, Bulacan, hometown of national winner, Teresita Valdez. The celebration was attended by Valdez’s employees, relatives, and friends, as well as Tulay sa Pag-unlad, Inc. (TSPI) officers, her microfinance institution partner.
Joining Valdez were Citi Philippines CEO Batara Sianturi and Bangko Sentral ng Pilipinas (BSP) Microfinance Consultant Ed Jimenez, along with Citi Corporate Affairs director Aneth Lim and Microfinance Council of the Philippines Inc. (MCPI) manager Aileen Paglinawan.
Valdez started working at age 13, removing fish heads in a factory making sautéed shrimp paste (bagoong). She later set up her own business making bagoong and anchovy sauces with her in-laws. Her competitive edge was not using preservatives, other than vinegar, to prolong the shelf life of her product.
In 2010, she approached TSPI for her first loan of P10,000, and she continues to borrow regularly to fund her expansion plans. Despite the setback on a P2 million unpaid client debt which almost left her bankrupt, she did not lose the determination and focus to succeed. Today, she employs 22 workers, and her two sons are also engaged in the business.
Valdez is currently pursuing accreditation with the Bureau of Food and Drugs to pursue her dreams of directly exporting her products to the US, where she has existing clients and her products are enjoying robust sales.
Following the town hall for Valdez, similar celebrations were hosted in the different parts of the country for the other winners that include regional winners Ernani Llema (Luzon), Teresita Nicanor (Visayas), and Edamil Patta (Mindanao). Llema is a seafood buyer and dealer, while Nicanor won acclaim for her squid rings. Patta operates a coffee shop in Bongao, Tawi-Tawi.
Town halls were also held for Special Awardee for Agri Micro-business Johnny Larano, an advocate of modern farming; Special Awardee for Innovation Purificacion Tagulinao, a pandan craftsmaker; and Special Awardee for Community Leadership Rosma Cabillon, a seaweed, squid and crabs buyer and seller from Estancia, Iloilo whose generosity aided many families following the devastation wrought by Typhoon Yolanda.
The CMA is a yearly collaboration between BSP, MCPI and Citi Philippines. Funded by the Citi Foundation, the CMA gives recognition to outstanding microfinance clients who have used microfinance and entrepreneurship to improve their lives as well as their communities. From 2002, the CMA has awarded 100 Filipino men and women, highlighting their significant contribution to uplifting microfinance and enterprise development in the country.