KUALA LUMPUR – The RM40 billion allocated for the Semarak Niaga Keluarga Malaysia (SemarakNiaga) programme that offers financing access to micro, small and medium enterprises (MSMEs) will go a long way to shore up their resources for long-term and sustainable recovery, said e-wallet operator Boost, reported Bernama.
Chief executive officer Sheyantha Abeykoon said the company will continue to complement MSME initiatives by the government proposed in Budget 2022.
“With our digital payment, merchant solutions and digital alternative financing businesses, we are focused on ensuring local small businesses have access to powerful, yet simple to use, digital tools as well as low-cost business capital,” he said in a statement on October 29.
On the government’s continuation of digitalisation plans for MSMEs, he said Boost is an official partner in the currently ongoing Go-eCommerce Onboarding campaign and has successfully helped 12,000 MSMEs digitalise their businesses at zero cost with no onboarding or sign-up fees.
“In addition, we have waived our merchant discount rate (MDR) to help MSMEs earn 100% of their revenue. The take-up rate sends a clear message that this government initiative is well received by MSMEs and presents another step forward in helping them unleash their full potential through digital transformation,” he said.
The homegrown brand said it remains firmly committed to being a partner to the government while collaborating closely with industry players to champion digital initiatives, drive change and spearhead the country towards developed nation status.
Since the pandemic started, Boost has seen an 85% increase in its user base to 9.4 million users and close to a 180% increase in merchant base to 375,000 merchants.
Meanwhile, Shopee chief operating officer Terence Pang said given the success of the ongoing 2021 Go-eCommerce Onboarding programme on Shopee, the e-commerce platform is confident that the allocation of RM250 million to continue the programme will further generate economic growth for the nation.
“We are heartened by the government’s continued support for the digitisation of our youths through the eStart programme, allocating a total of RM300 million to benefit two million youths next year.
“We will continue to empower local businesses and communities under our #ShopeeSapotLokal umbrella.
“At the same time, we will continue to contribute to the government’s goals in reinvigorating the nation’s economy, as we work together in making Malaysia a digital hub in the region through public-private partnerships and meaningful initiatives,” he said.
Read more: 5 Steps on How to Plan Your Digital Transformation
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