Nata de coco maker wins top Citi microentrepreneurship award

Davao-based nata de coco manufacturer Lydia Malot supplies producers of canned food and juice with her product.

On Wednesday, she became the first recipient of the Citi Microentrepreneurship Awards (CMA) from Mindanao in 12 years.

Six other microentrepreneurs won this year's awards in the regional and special categories, according to Citibank.

Malot considers the award as a "Christmas gift." She is set to start exporting nata de coco to buyers overseas.

The other awardees are footwear maker Ester Shiela Vitto of Luzon, special pastillas supplier Jordan Inalisan of the Visayas, and coil springs manufacturer Maternidad Salili – also of Mindanao.

The CMA National Selection Committee (NSC) gave special awards to two microentrepeneurs in agri micro-business that include mushroom and organic rice grower Victoria Bantilan of Negros Occidental, and fish breeder and trader Laarni Ditablan of Rizal.

A special award for community leadership was also given to Marines Takingan of La Trinidad, Benguet.

A wealth of entrepreneurs

According to Citi Bank, the winners received close to P2 million in cash and non-cash prizes including life and health insurance coverage, a four-week entrepreneurship training, and laptops and training in information technology.

"With each passing year, it becomes more and more evident that there continues to be a great wealth of entrepreneurs in the country," Citi Philippines CEO and NSC Co-chair Aftab Ahmed said.

"Each year, it is a very involved process to identify seven awardees from a long list of winners, he added.

For his part, Bangko Sentral ng Pilipinas (BSP) Governor and NSC Co-chair Amando Tetangco Jr. noted the importance of an environment that stimulates institutions to provide sufficient opportunities for entrepreneurs.

"A significant factor in our growing harvest of successful microenterprise stories is a regulatory environment that enables microfinance institutions of MFIs to provide appropriate products and services," he said in his keynote during the awarding ceremony in Pasay City.

The NSC members include GMA Network Inc. President and CEO Felipe Gozon, Rizal Commercial Banking Corp. Independent Director Antonino Alindongan Jr., Summit Media President Lisa Gokongwei-Cheng, and RFM Corp. President and CEO Jose Ma. Concepcion.

The other members are Commission on Filipinos Overseas Chairperson Imelda Nicolas; Philippine Daily Inquirer Chair Marixi Rufino-Prieto, Dean of Ateneo de Manila John Gokongwei School of Management Darwin Yu, and Ayala Corp. President Fernando Zobel de Ayala. – VS, GMA News