Meta is partnering with the National Institute of Banking and Finance (NIBAF), a subsidiary of the State Bank of Pakistan (SBP), to train and up-skill Pakistani women entrepreneurs in order to support the country’s women-led enterprises’ long-term viability and resilience.
The program is part of Meta’s flagship women empowerment program, ‘SheMeansBusiness,’ and is called ‘Business Resilience through Financial Education (BRFE).’
SheMeansBusiness was launched in Pakistan in May 2020 in collaboration with the SBP and USAID to help women-led enterprises gain financial inclusion and resiliency, especially during the Covid-19-induced economic slump.
Meta will offer a series of online training sessions in conjunction with the National Institute of Banking and Finance (NIBAF) to up-skill 3,000 women entrepreneurs who are part of NIBAF’s National Financial Literacy Program for Youth (NFLP-Y).
The program’s main goal is to improve women’s financial understanding of business and to assist them in growing their enterprises in order to improve their socioeconomic status and position in society. The NFLP-Y program focuses on personal financial management and has a large following in Pakistan.
“One of the primary drivers of women’s empowerment is financial empowerment. NIBAF is thrilled to work with META to help Pakistani women improve their financial literacy and digital abilities. “We hope that this relationship will assist our women in creating their own entrepreneurial paths,” stated NIBAF Managing Director Riaz Nazarali Chunara.
Beth Ann Lim, Meta’s Director of APAC Policy Programs and Government Outreach, said, “We are excited to cooperate with NIBAF to boost financial education and training for Pakistani women entrepreneurs.”
“Financial education, especially when combined with digital skills, is critical for the sustainability and resilience of small and medium firms,” she noted.
“Over the previous two years, we’ve seen that entrepreneurs who use digital tools are more adaptable; financial education would help them adapt and develop their enterprises even more.” “I’m hoping that our partnership will make a huge difference for women-owned companies across the country,” Beth remarked.
The Meta-NIBAF collaboration intends to capitalize on the two organizations’ combined experience in upskilling and supporting aspiring entrepreneurs for better business outcomes.
NIBAF has considerable capacities and expertise in planning and executing a variety of training programs, workshops, and seminars, while Meta has been using its social media platforms and digital knowledge for human development and economic recovery post-Covid-19.
These programs are for the capacity building of commercial bankers, micro and rural finance providers, management professionals, and entrepreneurs in the country in subjects related to economics, banking, finance, and management.
Its National Financial Literacy Program for Youth (NFLP-Y) teaches money management skills to Pakistani youth and schoolchildren.