COVID-19: What Axiata is doing to help
Read this quarter’s Intermedia here
Axiata Group and its subsidiaries, Celcom, edotco and Axiata Digital, have launched a RM150 million fund to help micro-SMEs who are experiencing financial difficulty because of the COVID-19 pandemic and its effects. (Micro-SMEs tend to be in the bottom 40% of incomes in Malaysia.)
Through Axiata Digital’s Aspirasi platform, the organisation will offer shariah compliant micro-financing, which could benefit an estimated 150,000 micro-SMEs within the organisations’ ecosystems. The terms include suspended repayment requirements and concessional interest rates.
In addition, Axiata’s COVID-19 Assistance Program will also offer micro-insurance coverage under Aspirasi to protect micro-SME proprietors and merchants with emergency income, accidental death and COVID-19 assistance.
An advantage of the programme is that micro-SMEs will only be required to undergo a 3-minute online process to apply for funding with minimal or no human intervention required. If approved, funding will be available to them in 48 hours from their bank accounts.
To find out more about Axiata’s efforts to help during the coronavirus pandemic click here.
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