MAPAN (PT RUMA) USES TRADITIONAL FINANCING METHOD TO AID RURAL COMMUNITIES

Posted on October 19, 2017 by Patamar Capital

Mapan (PT Ruma), a social enterprise that focuses on community-based financial technology services, works towards increasing financial literacy and helping Indonesian families to change their financial habits. Mapan offers microfinance services and enables users to access funds as well as information by empowering independently-owned shops or factories with technology in the form of a mobile app.

Mapan uses the concept of “Arisan” which is a form of rotating savings and credit association in Indonesian culture. It’s a form of microfinance. Arisan is a social gathering that takes place at fixed intervals (as this is an informal social network, the intervals vary), at each member’s home in turn. Members take turns to receive an amount of money previously deposited by all members. The order of people to which the funds are assigned is made by ballot.

Mapan chief executive and co-founder Aldi Haryopratomo began this venture to offer better access to financial services and education to communities, especially those in rural areas.

Read the entire feature on Mapan (PT Ruma) at Endeavor Indonesia

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