MADCash Empowers Micro Women Entrepreneurs to Grow Their Business

“MADCash (Multiply Assist and Donate Cash) started firming up in 2019 when we were accepted into UNCDF Financial Innovation Lab. The initial idea of MADCash is to convert a one time donation into a perpetual donation with the concept of paying it forward as we created a technology platform that makes this process visible. We wanted donors to see who their donation was helping at any moment in time.” says Nuraizah Shamsul Baharin, managing director of Madcat World.

Madcat World is a technology based company and MADCash is their current focus as a Syariah compliant Fintech ecosystem builder.

Mar 18, 2020 marked a very critical moment in the history of Malaysia when the government issued a complete lockdown of businesses. This was especially hard for the micro entrepreneurs, those that run small businesses from the roadside or from the home. This unprecedented pandemic caused so many financial crises. Women could not put food on the table, families lost jobs and lived on savings and when the rules relaxed a bit to allow businesses to open, these micro entrepreneurs had no savings left to jump start their business.

Around the world, an estimated 1.7 billion adults don’t even have access to a bank account. That’s where microfinance steps in – not just to help families become self-sustaining, but as a key driver of social change, including women’s empowerment. It’s perhaps not surprising that some 80 per cent of microfinance clients are women.

Source : Malaysia Kini