KB Bank, PPM School of Management Help Boost MSMEs' Financial Literacy
Jakarta. KB Bank recently partnered with the PPM School of Management to improve financial literacy among Indonesian micro, small, and medium enterprises (MSMEs).
The bank recently held an event themed “Community Development: Enhancing Financial Literacy and Empowering MSMEs” in Bekasi. The event was in partnership with the PPM School of Management, MME 76 class, as well as the Gugah Nurani Indonesia Foundation. The community development program focused on the MSMEs in the Cibitung. The sessions also touched on digital marketing and microcredit programs, among others.
“We believe MSMEs play a crucial role in enhancing Indonesia's economy. Therefore, MSME players need to have better financial literacy to make sound financial decisions. That’s why we will continue to innovate and enhance our financial education programs to benefit even more Indonesians,” KB Bank's vice president director Robby Mondong was quoted as saying in a recent press statement.
According to PPM School of Management lecturer and MME 76 Mentor Achmad Fahrozi, financial literacy is pivotal for MSMEs to be able to help grow Indonesian economy. MSMEs can increase their business capacity, make smarter decisions, optimize cash flow, expand access to funding, and create sustainable stability. But this calls for a multi-stakeholder collaboration between businesses, academics, and the communities.
"Just like what KB Bank, PPM School of Management, and Gugah Nurani Indonesia Foundation in improving financial literacy for MSME players in Cibitung District. This synergy is a real step to encourage MSMEs to upgrade and strengthen the national economy," Achmad said.
The initiative is part of KB Bank's efforts to support the financial literacy program initiated by the Financial Services Authority (OJK). KB Bank has vowed to help pave the way for a financially literate and competitive MSME community through a series of financial education programs. The bank also said this aligned with its mission to support Indonesia's economy.
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