Myanma Awba Group empowers women rural business owners through digital financial service 1-STOP
Myanma AWBA Group is participating in a 24-month project venture with 2C2P named 1-STOP, an innovative ‘Digital Convenience Store’ venture. The venture aims to help small rural business owners, particularly women, diversify and earn additional income as agents.
With over 30 digital service offerings, 1-STOP is expected to directly aid 6,000 women-owned retail shops, and over 70,000 customers. The services their shops will host include Mobile Prepaid, Bill Payments and e-Commerce cash acceptance for flight and bus tickets across a network of 30 content providers and 100 e-commerce merchants.
Engaged business owners to aid access to financial services
Currently, only 29 percent of Myanmar women have access to formal financial services, with just 7 percent of them between the ages of 18 and 34 possess a formal bank account. Research has also shown that women in Myanmar face more obstacles to financial inclusion, often facing prohibitive financing terms that make access difficult. Building a network of women agents in rural areas also allows locals access to basic digital services, bolstering individual and community inclusion in the formal financial market.
The project is also funded by United Nations Capital Development Fund (UNCDF) and the Australian Department of Foreign Affairs and Trade.