Superbank and Amartha established a strategic partnership to boost the business growth of more than 1 million women micro-entrepreneurs in Indonesia served by Amartha.
Heaptalk, Jakarta — Superbank (PT Super Bank Indonesia) announced a strategic partnership with the microfinance technology platform Amartha (PT Amartha Mikro Fintek) to provide working capital loans for women micro-entrepreneurs in Indonesia.
The collaboration aims to boost the business growth of more than 1 million women micro-entrepreneurs currently served by Amartha.
“As a newly transformed digitally-focused bank backed with one of the most extensive ecosystems in Southeast Asia, we are committed to bridging the financial gap for underbanked communities to improve the welfare of more Indonesians,” stated Chief Business Officer of Superbank Sukiwan.
Sukiwan further delivered, “By providing access to safe and trusted financing solutions, we believe we can uplift women-led micro-entrepreneurs businesses and unlock their full potential.”
Achieving equitable access to inclusive financial services
Meanwhile, Chief Funding Officer of Amartha Julie Fauzie emphasized that achieving equitable access to inclusive financial services requires a lot of collaboration. Collaborating with Superbank Julie said, “Through this partnership, we can combine technology assets and expertise to simplify the loan application process, making it more efficient and accessible for ultra-micro entrepreneurs in Indonesia.”
In addition, Julie conveyed this partnership is expected to have a sustainable impact on grassroots MSMEs and serve as an inspiration for other institutions to collectively promote grassroots economic growth through inclusive financial access.
Essentially, Indonesia hosts over 64 million MSMEs which contribute up to 60% of Indonesia’s gross domestic product (GDP) based on data from the Cooperatives and SMEs Ministry and Women Empowerment and Child Protection Ministry. In particular, 52.9% of micro-enterprises and 50.6% of small-scale businesses are led by women, underlining the critical role of women in driving the growth of the nation’s economic development.
Moreover, data from the Finance Ministry demonstrates that more than 6.4 million borrowers (>95%) of the government’s ultra-micro financing program are women entrepreneurs. “We will continue to innovate and collaborate with partners such as Amartha to further our contribution in the development of the MSME sector and empower underbanked communities with inclusive and relevant financial solutions,” Sukiwan concluded.
