Kota Kinabalu: Agrobank continues its commitment to expanding financial access for hawkers and micro-entrepreneurs by bringing its ground-level approach to Sabah, involving the Api-Api Night Market at Gaya Street in Kota Kinabalu and the Papar Tamu’s Farmers' Market.
This expansion into Sabah is a continuation of Agrobank's series of engagement sessions at several farmers' markets around the Klang Valley previously, thereby marking a significant step in extending the reach of this initiative to Borneo.
These engagement sessions are also in line with the mandate of the Prime Minister Datuk Seri Anwar Ibrahim, who directed financial agencies to go on the ground to expedite the distribution of RM5 billion in capital to small traders.
Through this approach, Agrobank strives to ensure that financial support can be delivered more closely, in a targeted manner, and easily accessed by the traders in need.
The Api-Api Night Market at Gaya Street involves a total of 153 hawker entrepreneurs, while the Papar Tamu Papar Farmers' Market involves 95 hawker entrepreneurs.
The selection of these two locations takes into account the role of night markets and farmers' markets as local economic hubs that directly bring together small traders, micro-entrepreneurs and the consumer community.
Agrobank Group President/Chief Executive Officer Dato’ Tengku Ahmad Badli Shah Raja Hussin said the expansion of these engagement sessions to Sabah reflects Agrobank's commitment to ensuring that the benefits of financial initiatives are not only concentrated in major urban areas but also reach the small trader communities across the country.
"Following the implementation at several locations around the Klang Valley, Agrobank's presence in Sabah is an important step towards understanding the needs of small traders in Borneo more closely.
Every business community faces different challenges and needs; hence, the ground-level approach allows us to provide explanations and support that are better suited to their business realities," he said.
"Agrobank wants to ensure that hawkers and micro-entrepreneurs have easier access to capital, financial advisory services, as well as non-financial support that can help them manage and grow their businesses in a more organised and sustainable manner," he added.
Through these engagement sessions, Agrobank is also highlighting financing facilities such as the Agrobank x FAMA Agro-Entrepreneur Scheme and Agro Penjaja-i as part of the solutions that can assist hawkers, small traders, and agro-entrepreneurs.
At the Api-Api Night Market, Agrobank focused its efforts on directly approaching traders and hawkers to identify suitable financing needs, particularly in supporting working capital and business expansion.
To date, Agrobank has received financing applications exceeding RM8 million, reflecting the positive response from traders towards the ground-level approach implemented by the bank.
Agrobank will continue to strengthen its ground-level approach alongside relevant agencies to ensure that the community of hawkers, small traders and micro-entrepreneurs across the country gains access to financial solutions that are inclusive, relevant and tailored to their business needs.
