Krafters and Handicrafts Association Sign MoU to Empower MSMEs in Pakistan

In recent years, the importance of Micro, Small, and Medium Enterprises (MSMEs) has gained significant recognition in Pakistan. These enterprises play a crucial role in the economy by creating jobs, fostering innovation, and contributing to the overall growth of the country. However, many of these businesses, especially home-based workers, face challenges such as limited access to financial resources and digital platforms. To address these issues, Krafters has taken a significant step by signing a Memorandum of Understanding (MoU) with the Handicrafts Association of Pakistan.

This partnership aims to synergize efforts towards the development of MSMEs and home-based workers. Krafters, an e-commerce platform, boasts a network of over 9,000 artisans and is dedicated to reviving and sustaining traditional crafts while empowering artisans to lead dignified lives. The MoU will enable both organizations to collaborate on various projects, focusing on digital financial inclusion, enterprise development, and youth empowerment.

As part of its initiative under the Pakistan Innovation Fund (PIF), Krafters organized a session on "Digital Financial Inclusion" at TMA Haripur, specifically targeting women-led enterprises in the district. This session, conducted in collaboration with JazzCash, highlighted the significance of digital financial inclusion and its potential to foster economic growth, reduce poverty, and empower individuals.

During the session, the JazzCash team from Islamabad emphasized the necessity of digital onboarding for participants, which included registering women-led enterprises for JazzCash accounts. This initiative is a vital step towards financial empowerment, especially for women entrepreneurs who often face barriers in accessing traditional financial systems.

Syed Zahid Ali Shah, the CEO of Krafters, remarked, "Digital financial inclusion plays a significant role in empowering women-led businesses, particularly in developing regions, where traditional financial systems often marginalize women entrepreneurs." This statement underscores the transformative potential of digital platforms in leveling the playing field for women in business.

Furthermore, Krafters, in partnership with JazzCash and the Government Technical Teachers Training College (GTTTC) Peshawar, conducted another session on "Digital Financial Inclusion" for women-led enterprises at GTTTC in Hayatabad, Peshawar. This event not only raised awareness about digital financial inclusion but also facilitated the onboarding of women entrepreneurs onto the Krafters and JazzCash apps, guiding them towards economic empowerment.

In addition to these initiatives, Krafters plans to provide training for IT professionals on freelancing, helping them create profiles on various social media platforms such as LinkedIn, Fiverr, and X. This training will equip individuals with the necessary skills to thrive in the digital economy.

The collaboration between Krafters and the Handicrafts Association of Pakistan marks a significant milestone in the journey towards empowering MSMEs and home-based workers. By focusing on digital financial inclusion and providing essential training, this partnership aims to create a more inclusive economic environment where everyone, especially women, can thrive. As the world continues to evolve digitally, such initiatives are crucial in ensuring that no one is left behind in the pursuit of economic growth and empowerment.