MICROCAPITAL BRIEF: ESCAP, SHE Investments, UNCDF Build Bookkeeping App Kotra Riel to Assist Women Microentrepreneurs in Cambodia

The UN Economic and Social Commission for Asia and the Pacific (ESCAP), the UN Capital Development Fund (UNCDF) and Cambodia’s SHE (Support Her Enterprise) Investments recently released a bookkeeping app, Kotra Riel,’ targeting women microentrepreneurs in Cambodia. The Khmer-language app assists with tracking income and expenses, managing cash flow, and accessing formal financial services. Kotra Riel is available for users of Android phones and is slated for release for the iOS platform in the future. There is no fee to enter up to 100 transactions a month into the app.

ESCAP Deputy Executive Secretary Kaveh Zahedi said, “Too many women entrepreneurs in Cambodia and the region are at a disadvantage because they simply don’t have access to the digital and financial tools and knowledge that they need to operate their businesses effectively…. We hope this initiative can inspire and be used by the countless women entrepreneurs that are looking to build their digital and financial skills to access formal finance and in the end to just grow their businesses.”

SHE is a Cambodian social enterprise that supports women with micro-, small and growing businesses. It began operations in 2013 and is headquartered in the city of Phnom Penh. Its programs include the SHE Incubator and Accelerator Program; the Investment Readiness Program, which helps women secure business capital; and the Thriive Cambodia Program, which provides “loans” to businesses that are repaid in the form of community training. SHE also renders consultancy and financial management services. Financial data on SHE are not available.

ESCAP acts as a think tank and “intergovernmental platform” seeking to promote “social development” in the Asia-Pacific region. Originally known as the Economic Commission for Asia and the Far East, the organization was founded in 1947 with the purpose of assisting with post-war reconstruction. It moved its headquarters to Thailand in 1949 and changed its name to ESCAP in 1974. As of 2021, it has 53 member states and nine associate members.

Established in 1966 by the UN General Assembly, UNCDF works closely with the UN Development Programme. UNCDF endeavors to create opportunities for poor people and their businesses by increasing access to microfinance and other forms of investment capital. The organization operates in 40 countries in Africa and Asia with a particular commitment to countries emerging from crises. During 2019, UNCDF had a budget of USD 63 million and supported initiatives providing financial services to 3 million unbanked and underbanked clients.

By Aakansha Shenoy, Research Associate

Sources and Additional Resources

ESCAP press release
https://www.unescap.org/news/united-nations-and-she-investments-launch-mobile-bookkeeping-app-women-entrepreneurs

Kotra Riel homepage
https://www.kotrariel.com/

Kotra Riel on Google Play
https://play.google.com/store/apps/details?id=com.she_investment.kotra_riel

SHE Investments homepage
https://www.sheinvestments.com/

UNCDF homepage
https://www.uncdf.org/

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