The UNCDF today launched its Rapid Finance Facility Project dedicated to supporting women entrepreneurs in PNG with digital and financial services. The DEFINE Initiative, a private-sector collaboration of three core proponents – PNGX Markets; PNG Digital ICT Cluster; and Unkapt – will deliver its Business Skills Boost for Women Entrepreneurs Project (Skills project) as part of the UNCDF RFF Project.
The Skills Project will provide business, financial literacy, and digital skills training to accelerate business development of women-led micro and small enterprises and solo female entrepreneurs (mSEs).
It will target women-led mSEs with basic to intermediate level business, digital and financial literacy skills. It will raise the awareness and understanding of appropriate digital solutions, services and products, to improve their business and operations and will support women’s economic empowerment.
The objectives of the training programs are to assist women entrepreneurs to:
- boost opportunities to develop their businesses;
- graduate to the formal sector;
- transition into the emerging digital economy; and
- adopt better business practices through the use of social media to market their goods,
- communicate quickly with customers or suppliers, and to coordinate their supply chains.
The aim is to train 700 women entrepreneurs by the end of the year.
Each Skills program will conclude with a Demonstration Day in which participants will have the opportunity to apply what they have learned and showcase, or pitch, their business to an interested audience including potential financiers.
“The support of the UNCDF for this project is very much welcomed and appreciated. It will allow us to accelerate the development and delivery of training and, with the strong brand and reputation of UNCDF, improve the scope for reaching a larger potential audience” said PNGX General Manager, Ms Elizabeth Wamsa. “We look forwards to working with UNCDF and the delivery of a successful program” she said.
