Agrobank Receives Over RM8 Mln Financing Applications From Api-Api Night Market Traders

KOTA KINABALU, July 4 (Bernama) -- Agrobank has received financing applications amounting to more than RM8 million from traders at the Api-Api Night Market in Jalan Gaya, following its outreach efforts to expand financing access for hawkers and micro-entrepreneurs in Sabah.

In a statement today, Agrobank said the engagement session with traders and hawkers at the night market had focused on identifying suitable financing needs, particularly to support working capital and business expansion.

The bank said the engagement session was also held at the Tamu Papar Farmers’ Market, extending its outreach to Borneo following similar sessions at several farmers' markets in the Klang Valley.

The session held at the Api-Api Night Market saw the bank reaching out to 153 hawkers and entrepreneurs, and the session at Tamu Papar Farmers’ Market involved 95 traders.

Both locations were selected due to the role of night markets and farmers’ markets as key drivers of local economic activity.

The engagement session was also observed by Finance Minister II, Datuk Seri Amir Hamzah Azizan.

Agrobank Group president and chief executive officer, Datuk Tengku Ahmad Badli Shah Raja Hussin said the expansion of the engagement sessions to Sabah underscores the bank’s commitment to extending financial initiatives beyond major urban centres to small business communities across the country.

“Agrobank’s presence in Sabah is an important step to better understand the needs of small traders in Borneo.

“Every business community faces different challenges and needs. Hence, our on-the-ground approach allows us to provide explanations and support that are better aligned with their business realities,” he said.

He added that Agrobank aims to ensure that hawkers and micro-entrepreneurs have easier access to capital, financial advisory services and non-financial support to help them manage and grow their businesses in a more structured and sustainable manner.

The engagement session was also in line with Prime Minister Datuk Seri Anwar Ibrahim’s directive for financial agencies to step up outreach efforts and accelerate the disbursement of RM5 billion in financing to small traders.

-- BERNAMA