Meet Fatema Khatun – Best Woman Entrepreneur in Bangladesh

Farah Rahman, Bangladesh Head of Corporate Affairs (left) and Regina Seow (right), meet with Fatema Khatun, named the CMA Best Women Entrepreneur of the Year for 2015 (center).

It was an opportunity – in the form of a microloan - that changed Fatema Khatun's life, and the lives of those around her.

I recently had the privilege to personally meet three outstanding microentrepreneurs, including Fatema, at the 10th Citi Microentrepreneurship Awards (CMA) presentation ceremony in Dhaka, Bangladesh. The CMAs are supported by the Citi Foundation and happen in more than 30 countries around the world.

Each microentrepreneur had a courageous story to share. Each had made a successful living from nothing and fought against poverty to make their way up the economic ladder.

It was heartening to hear how their microenterprises have helped enable their children to be educated, created employment for their neighbors and inspired some in their village to start their own businesses. Their incredible stories really brought to life the aim of the CMA program, which is to raise awareness about the importance of microentrepreneurship and microfinance in supporting the financial inclusion and economic empowerment of low-income individuals.

Back to Fatema's story – she had travelled from her West Kadirhat village to Dhaka with her husband and children to accept her Best Woman Entrepreneur of the Year Award at the CMA ceremony.

Looking at this petite woman, you would never imagine her tenacity and courage.

Living in acute poverty, never sure where the next meal would come from, Fatema turned her skill of weaving mats, which she had learned from her husband, into a living.

With a microloan of about $65, Fatema bought 4 units of hand looms, hired 2 workers and together they started producing prayer mats for sale. Her husband helped to peddle the mats.

Today, after 11 years of perseverance, Fatema employs 27 individuals and earns three times what she used to earn. The multiplier benefits of her microenterprise are employment for 27 other villagers, her children can go to school and she is an inspiration for other villagers who look to follow in her footsteps.

It was an honor to meet Fatema and celebrate her courage and her can-do spirit.