RHB Islamic to empower asnaf and B40 entrepreneurs with RM1 million

6 November 2023

By Wartawan Nabalu News

KUALA LUMPUR: RHB Islamic Bank and Permodalan Nasional Berhad (PNB) have allocated RM1 million to support the implementation of the 2024 Be Your Own Boss (BYOB) Program, organised by Perbadanan Nasional Berhad (PERNAS).

The programme was launched by the Minister of Entrepreneur Development and Cooperatives, Datuk Ewon Benedick, at Hotel Le Meridien, Kuala Lumpur, today.

In his speech, Ewon stated that the second edition of the programme aims to target 100 participants from the asnaf group, B40, and university students.

"Pernas, an agency under the Ministry of Entrepreneur Development and Cooperatives (MEDAC), which is mandated to empower franchise entrepreneurs, will identify and provide business matching, structured training, monitoring, and guidance to the program participants.

"A total of 22 brands under the Business in Transformation (BIT) Program of Pernas are involved in this collaboration, including brands such as Old Time Sengkuang, Monti Keopi, Tisha's, Zie Putu Perak, Keropok Getel, and KUHOT, with package estimates ranging from RM5,000 to RM25,000.

"The implementation of this programme is seen as a way to support MEDAC's mission in providing a platform, support services, assistance, and entrepreneurial capacity development," he said.

Also present were the Deputy Minister of Entrepreneur Development and Cooperatives, Saraswathy Kandasami, Deputy Secretary-General (Policy & Monitoring) of MEDAC, Noor Afifah Abdul Razak, Chief Executive Officer of RHB Islamic Bank, Dato' Adissadikin Ali, and the Chief Executive Officer of the Franchise Development Division of Perbadanan Nasional Berhad (Pernas), Mazlan Ibrahim.

Ewon stated that the launch of the BEST-BYOB 2024 Programme demonstrates the dedication of agencies under the ministry, such as Pernas, in assisting the asnaf and B40 groups to venture into the franchise and pre-franchise business sectors through collaborations with various parties.

"The implementation of the BEST BYOB programme is also in line with the MEDAC's 2023 Strategic Plan in providing a conducive ecosystem, enhancing the resilience and competitiveness of entrepreneurs, as well as strengthening the entrepreneurial service delivery system," he said.

He added that among the objectives of the BEST BYOB programme are to improve the standard of living for the target groups, create entrepreneurial opportunities as pre-franchise entrepreneurs in the Business In Transformation (BIT) Program of Pernas, and connect pre-franchisees and pre-franchise entrepreneurs of the BIT program through the use of the SME Solution system under the supervision of RHB Islamic Bank.

In the first edition, RM500,000 was allocated to train 42 participants, consisting of asnaf recipients.

"The first edition of this programme was implemented from April 1, 2022, to April 1, 2023. Out of the 42 participants, 30 individuals have successfully started businesses in the food and beverage sector.

"After participating in the programme, they have managed to increase their monthly income. For example, BIT Pre-Franchise entrepreneurs have seen their monthly income increase from RM8,500 to an average of RM14,000 to RM17,000 per month.

"The ministry will continue to support the efforts of various parties in producing more entrepreneurs in the country," he said.