The Palawan Group of Companies (PGC), operator of the country’s leading pawnshop and remittance chains, has forged an expanded partnership with RAFI Microfinance Inc. to further strengthen support for grassroots entrepreneurship.
The contract signing was held at the PGC Head Office in Puerto Princesa, marking a unified effort to empower and uplift micro-entrepreneurs across the country.
With this partnership, RAFI Microfinance’s services will be accessible via PGC’s expansive network of over 3,500 PEPP branches nationwide. As both companies are rooted in championing financial inclusion among Filipinos, particularly those in remote or underserved areas, this strengthened alliance aims to enhance reliability and accessibility of crucial financial services – all while reducing associated travel time and costs.
According to the Department of Trade and Industry, small businesses account for 99.59 percent of all registered businesses in the Philippines as of 2023, contributing more than 65 percent of the country’s total employment. Despite their vital role in the economy, many of these, especially those in rural or low-income communities, continue to struggle with limited access to formal credit, business development support, and scalable financial tools.
The partnership between PGC and RAFI Microfinance is a vital response to this gap, leveraging PGC’s extensive physical reach and digital infrastructure to bring RAFI Microfinance’s inclusive services closer to underserved entrepreneurs. By enhancing access to financial services at the grassroots level, the alliance is crucial in achieving PGC’s core objective of fostering inclusive growth and building a more resilient entrepreneurial ecosystem nationwide.
Lisa Lou Castro-Sabado, PGC Chief Business Development Officer, expressed excitement about the partnership. She stated, “Since day one, our mission has been to make financial services more accessible to Filipinos from all walks of life. This partnership with RAFi strengthens that mission by extending meaningful support to our micro-entrepreneurs, especially those working hard in underserved areas.”
“We’ve always believed that inclusive finance is a foundation for social progress. This partnership ensures that even micro-entrepreneurs in the most remote barangays can access the resources they need to build better futures for their families and communities,” Bobby L. Castro, PGC Chairman, remarked.
Representing RAFI Microfinance, President and CEO Thomas Kocsis shared, “At RAFI Microfinance, we are committed to breaking barriers that limit the growth of micro-entrepreneurs. Partnering with PGC allows us to deliver our services more efficiently and reach more Filipinos who deserve access to financial opportunities and security. And since our companies share the same values, I can say that this partnership is both strategic and virtuous.”
PGC said the partnership further enhances its capacity to reach more customers, particularly in rural and underserved communities, by supporting micro-entrepreneurs on their path to greater financial stability and independence, all while providing services that are affordable, fast, and hassle-free.
