Khalti has won the United Nations Fintech Innovation Fund which was jointly organized by the United Nations Capital Development Fund (UNCDF) and the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) earlier this year.
After winning the Fintech Innovation Fund, Khalti is initiating a special project within July 2019. The project will support women-led micro, small, and medium-sized enterprises (MSMEs) in 12 different districts across Nepal — from Sankhuwasabha in the east to Darchula in the west.
As per the company — as a part of this project — Women involved in Dhaka Weaving to Allo Processing and Weaving to Food Processing will be supported. Thus the project’s main objective is to solve gaps between production and sales of goods produced by 3500 women involved in MSMEs in Nepal.
Alongside it, the project is also expected to offer financial and digital education and skills to women-owned, managed or led MSMEs by including all enterprises to a digital platform, thereby upgrading their current way of working.
Khalti will provide them much necessary training with a view of making them self-sufficient and help them expand their business and resources. The financial technology company is also joining hands with the SAARC Business Association of Home Based Workers (SABAH Nepal) to enact the project. On top of that, Khalti is also assembling Smart Chhoris to help the MSMEs.
To conduct the project and initiate a digital and financial solution that will help refine the access to finance and further upgrade the operational efficiency of these MSMEs, UNESCAP and UNCDF will be providing financial and technical support for Khalti over the year.
Also, through Khalti’s hyperlocal market and bulk payment processing system, MSMEs will be able to receive payments on their mobile phone from their users. Similar to recent projects from Khalti — including Smart Chhoris — this one also seeks to uplift the livelihood of women, this time for those who are involved in MSMEs in Nepal.
