KUALA LUMPUR: Bank Rakyat has allocated RM3.82 million for the RAKYATpreneur 5.0 and Bank Rakyat UNIpreneur 4.0 programmes to empower 800 potential "asnaf" entrepreneurs.
Building on the past three years of success, the RAKYATpreneur and Bank Rakyat UNIpreneur programmes had assisted 1,833 asnaf entrepreneurs and students with RM6.63 million in contributions.
Deputy Entrepreneur Development and Cooperatives Minister Datuk R. Ramanan said such initiatives were important in strengthening social wellbeing and addressing the needs-based economy.
He also said there had been a lack of participation of young people in such initiatives.
"If we look at it, the largest group of entrepreneurs in the future will come from youths, and we need to involve them in more programmes and initiatives as young entrepreneurs.
"I have discussed this with officials at the Entrepreneur Development and Cooperatives Ministry (Kuskop) to gain support so that all agencies under the ministry would run special programmes for youths.
"This can also help university students while they are studying and after they graduate, when they enter the workforce, they will have a platform to run their businesses," he said during the launch of the event at Bank Rakyat Twin Towers here today.
He also said until now around 20 public higher education institutions had joined this programme.
Ramanan also commended Bank Rakyat for its entrepreneurship programmes for needy people.
"These initiatives provide funding, training modules and holistic guidance to create opportunities for entrepreneurs to grow and advance their businesses," he said.
He also highlighted the success of RAKYATpreneur 4.0, where 300 participating entrepreneurs recorded an increase in sales growth.
Citing a past performance, he said Bank Rakyat UNIpreneur 3.0 had seen 451 of its 500 participants gaining the ability to set aside monthly savings from their income.