Aboitiz Foundation lauds four coops as top partners

CEBU, Philippines - In its thrust towards enterprise development, Aboitiz Foundation, Inc. (AFI) lauded four cooperatives as top partners groups in Cebu and encouraged similar organizations to practice the bayanihan spirit and inculcate discipline and eagerness to help each other.

In its first Aboitiz Business Assistance and Guidance (ABAG) recognition, Kapunungan Sa mga Banikanhong Mag-uuma Alang sa Ekonomikanhong Kalambuan (KABAMEKA), Cambinocot Multipurpose Cooperative, St. Vincent Neighborhood Multipurpose Cooperative and South Cebu Hog Raisers Multipurpose Cooperative were awarded as outstanding partners and exemplary models of hardwork and cooperation.

These cooperatives have grown both in terms of membership and number of projects implemented.

Showing signs of growth both in terms of membership and number of projects implemented, they were given plaques and P10 000 cash for their groups.

AFI Trustee Romy Ronquillo said that the foundation aims to provide cheap funds for deserving entrepreneurs without the need of collateral and to assist them through training programs, thus enhancing their skills while providing them with employment opportunities.

He cited that the enterprise development program encompasses microfinance, skills and capability training, livelihood training programs and infrastructure and asset donations.

What is most rewarding, he added, is to witness communities develop a sense of pride and accomplishment while people gaining self-esteem and discipline with the bayanihan spirit in action.

“The concept of one is the success of all and the failure of one is the failure of all. This is the concept we want to propagate,” he pointed out.

The capital enhancement through cooperatives, he added, help small-scale businesses to grow and be self-sustaining over the years.

He said that it also trickles down to the upliftment of both the cooperative and the community.

He also emphasized that the mandatory provision of developing a capital build-up enables cooperatives to organize properly, build communal facilities and create a fund for the common use.

Enterprise development program of the foundation is a major component of an overall mission that started in 1992 with the level 3 water system funding in Cubacub, Mandaue City as its first project.

To date, AFI has assisted 79 organizations nationwide of which majority come from Cebu and released over P90 million with notable number of re-loans.

Ronquillo further said that no bank in the Philippines has reached the average collection efficiency at 96% of AFI on time or ahead of time with no collateral.

He is confident that time will come who was once a small borrower will transform himself to become an independent entrepreneur and catalyst of his community.

“You cannot imagine how proud we are to be part of your development. We thank all of you for giving us the opportunity to help those deserve help because they help themselves first. It’s not easy to be a donor. Yes, if all we had to do was write a check. But when you want to use scarce funds consciously, conscientiously and constructively, it is hard work,” he stated during his opening remarks.

He also commended the staff of the Aboitiz Foundation for their hardwork and the Aboitiz Group of Companies and the Aboitiz clan for the source of funding.

An induction rite for officers of the newly-formed AFI League of Cooperatives and Associations (AFILCA) was also conducted in the same event.

For 20 years, the Aboitiz Foundation under its enterprise development program has provided assistance different organizations in the country to earn additional income and have access to income-generating livelihood activities.

The foundation also gave recognition to all its partner organizations that implemented various primary health and child care projects.  (FREEMAN)