Proxtera launches the SME Financial Empowerment (SFE) program in Asia and Africa

SINGAPORE, June 28, 2022 /PRNewswire/ — Proxtera, with the Monetary Authority of Singapore (MAS), the International Finance Corporation (IFC) and the United Nations Development Program (UNDP), launched an open program of financial education and action for micro, small and medium-sized enterprises (MSMEs) in Asia and Africa.

The SME Financial Empowerment (SFE) Program is a digital portal operated by Proxtera that aims to help MSMEs acquire fundamental digital financial literacy skills and gain a good understanding of cross-border financial services relevant to MSMEs, to help them thrive in the digital economy post-pandemic. Proxtera is proud to be the exclusive main operating partner of the SFE program.

SFE was deployed on June 14 with market partners in Asia and Africastarting with Ghana, India, The Philippinesand Singaporeand will benefit over 400,000 MSMEs in the two regions.

Saurav BhattacharyyaCEO of Proxtera, said “We are proud to be the exclusive lead partner for the program and lead the program office that designs, manages and implements the rollout. The SFE program stays true to our mission of supporting MSMEs, developing them to understand the financial services and the best way to tap into the digital marketplace efficiently and globally.SFE provides that first step for individuals to embark on a journey of digital transformation, where their digital understanding and skills mature over time, and they are part of an integrated ecosystem that allows them to truly trade business-without-borders.”

The SFE program will cover three key areas to focus on for 2022: critical financial digital skills, financial services for MSMEs, and access and growth of the digital economy. The inaugural launch features two certification courses that were developed in collaboration with UNDP, IFC, MAS, University of Singapore of Social Sciences (SUSS) and the Global FinTech Institute (GFI):

  1. Fundamental Financial Literacy covers basic financial concepts and essential financial products for MSMEs.

  2. Global Financial Literacy equips MSMEs with the knowledge to connect to the digital economy and grow internationally by leveraging networks, financial services, fintech solutions and digital tools.

We would like to acknowledge the support received from a wide range of premier sponsors and partners, including:

(A) Academy Partners: Ant Group, Visa
(B) Regional partners: Globe Telecom, Digital Pilipinas, Development Bank Ghana
(C) Community Sponsors: Validus
(D) Community partners: Bolttech, Coface, Consolidated Bank of Ghana, Philippines Department of Trade and Industry Philippine Trade Training Center, M1xchange and GlobalLinker

Companies will be able to receive a digitally verifiable certificate issued by SUSS and GFI, which provides access to financial services tools and knowledge services through a resource center.


Proxtera is an open, neutral hub that digitally connects B2B marketplaces, service providers and trade associations to simplify and amplify commerce for small and medium-sized enterprises (SMEs). Proxtera’s mission is to transform business-to-business commerce using technology to make marketplaces efficient and globally accessible, to enable holistic cross-border commerce through financing and fulfillment services, empower and building financial confidence.

Proxtera was launched in 2020 as part of the Business Without Borders (BSB) initiative marketing by MAS and the Infocomm Media Development Authority (IMDA). BSB seeks to develop a global digital infrastructure that would help increase cross-border business opportunities and improve digital and financial inclusiveness for SMEs in the underserved global B2B e-commerce market space.

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