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Winners of Citigroup-PPAF Micro-entrepreneurship Awards 2006 Announced in Islamabad

Islamabad: The twenty award winners of the Citigroup-PPAF Microentrepreneurship Awards 2006 organized by Citigroup Foundation (the philanthropic arm of Citigroup) and the Pakistan Poverty Alleviation Fund (PPAF) were formally announced at a special ceremony at the NIC Hall. The winners and runners up in ten categories were awarded by the Chief Guest at the award ceremony – Dr. Ishrat Husain, Former Governor of the State Bank of Pakistan in the presence of special guests Faryal Gauhar prominent women’s rights activist & UN Goodwill ambassador, Aazar Bhandara Economic Growth Advisor US Aid, Babar Aziz, Director Finance, Save the Children (US), M.R. Khan Financial Management Consultant, Seema Aziz Chairperson, CARE Foundation, Ayesha Muzaffar senior financial analyst IFC, MD & Country Officer Pakistan Zubyr Soomro and CEO PPAF Kamal Hyat. Also present at the ceremony were micro-entrepreneurs, representatives from microfinance institutions from across the country as well as important officials from the ministries, central bank, diplomats, dignitaries and members from the advisory council and screening committee.

More than 450 applications to participate in the Awards were received from Punjab, Sind, Balochistan and the North West Frontier Provinces. After several rounds of screening and field interviews, the advisory council selected a total of 10 winners and 10 runners up in each of the 10 categories. Prizes were awarded as follows:

• National
  • Best Female Entrepreneur: Ms. Ghazala Yasmeen (Khushali Bank) Faisalabad
  • Best Male Entrepreneur: Mr. Anopo (TRDP), Tharparkar
• Best Regional Urban Entrepreneur
  • Ms. Sultana Ghias (CSC), Lahore
  • Mr. Muhammad Esa (SAFWCO), Sanghar
  • Ms. Amtari Begum (SWWS), Swabi
  • Ms. Kubra (Save the Poor), Quetta
• Best Regional Rural Entrepreneur
  • Mr. Muhammad Ayub (NRDP), Narowal
  • Ms. Jam Zadi (SAFWCO), Shahdad Pur
  • Mr. Jalu Mal (TRDP), Tharparkar,
  • Ms. Taj Begum (The First Microfinance Bank) Hunza

Ten prizes for runners up in these categories were also awarded. In addition 20 Special recognition awards were given to Loan officers and representatives of MFI’s.

The prize-winners received prize money of US$ 33,500 equivalent in PKR

The award program is a global effort by Citigroup Foundation, taking place in more than 20 countries. The Microentrepreneurship Awards program, which Citigroup implemented in partnership with the U.N. in 30 countries last year, was a resounding success. In Pakistan, more than 300 microentrepreneurs applied and 16 winners received prizes. The program’s greatest success was the increasing global awareness of the important role that micro-entrepreneurs play in their local economies and the significance of microfinance as a tool of poverty alleviation.

Citibank, N.A. Pakistan and Pakistan Poverty Alleviation Fund (PPAF) as the local partner managed the awards program. Like the previous year, PPAF was selected as the secretariat for the whole program.

Citibank N.A Pakistan is also in the final stages of executing the first-ever commercial funding transaction for Kashf Foundation a Microfinance Institution run exclusively for women. This is in addition to equity contributions to the Government owned Khushali bank, the largest microfinance bank in Pakistan and the First Microfinance Bank.

In the last five years alone, the Citigroup Foundation has awarded nearly $20 million in grants to 145 microfinance partners in more than 50 countries. The Citigroup Foundation's grants are awarded primarily in three areas: Financial Education, Educating the Next Generation, and Building Communities and Entrepreneurs.

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