Bicolana bags top plum from Citi

An enterprising Bicolana was named Microentrepreneur of the Year in the 15th Citi Microentrepreneurship Awards (CMA) after making exciting discoveries in the use of pili nut and its by-products.

The top award was presented to Merle Paete by partners Bangko Sentral ng Pilipinas (BSP), Citi Foundation, Citi Philippines and the Microfinance Council of the Philippines Inc.

Paete, who hails from Bacon, Sorsogon City, started a small sarisari store in 2002 and was also in the business of buying and selling pili nuts and woven mats.

Paete discovered that the pili oil, locally called lana, could be extracted from the fruit’s outer covering. Lana can be used to alleviate skin conditions, regulate a person’s cholesterol levels, and help in weight loss.

Eventually, Paete worked hard to buy a three-hectare land, cultivate it to grow pili trees, while gathering additional pili fruit from neighboring farms.

She was joined by other awardees including Reynante Manimtim, a siomai food cart owner, the Regional Awardee for Luzon; Mimosa Cortez, a fishing and crab picking business owner, the Regional Awardee for Visayas; Ivy Millare, buko pie and egg pie manufacturer, the Regional Awardee for Mindanao; and Keith Varias, an internet café owner, recognized as the Youth Microentrepreneur of the Year.

Special awards were also given to Rowena Manalo, a supplier of driftwood used in landscaping, for Green/Sustainable Business; Carmelita Dapanas, a semi-hydroponics farm owner, for Agri Micro-business; and Abdulia Austria, a lodging house and tour boat rentals business owner, for Community Leadership.

Citi Philippines CEO Aftab Ahmed said the institution is able to recognize and celebrate successful entrepreneurs who have made a difference for themselves, their families and their respective communities through the Citi Microentrepreneurship Awards.

“These entrepreneurs serve as an inspiration to others through their tenacity, perseverance, ingenuity and conviction to pursue their dreams. Citi Philippines is committed to continue its support of financial inclusion initiatives that help Filipinos achieve financial independence, improve their ability to support their families and contribute to their respective communities,” he said.

“Their stories are reminders of the value and nobility of our work... that is why we constantly apply creativity and conviction in creating a regulatory framework that encourages an ecosystem where the poor are granted increased access to and usage of financial services,” BSP Governor Nestor Espenilla Jr. said.

This year’s winners received close to P2 million in cash and non-cash prizes that include life and health insurance coverage for one year; entrepreneurship training at the Citi Microenterprise Development Center; laptops and IT training. The winners will also be showcased during the celebratory town halls to be held in their respective hometowns after the awarding ceremony.