KUALA LUMPUR (Sept 24):  Singapore-based technology firm Grab is estimated to have contributed US$5.8 billion to Southeast Asia’s economy in the 12 months to March 2019, according to its social impact report released today.

This social economic calculation is independently verified by KPMG, based on agreed-upon procedures.

In a statement today, Grab said over 9 million micro-entrepreneurs, or one in 70 people in Southeast Asia, have earned an income through its platform, whether as a driver-partner, delivery-partner, merchant or agent-partner.

"Twenty-one per cent of Grab driver-partners did not work prior to joining Grab, while 31% of agent-partners had no income prior to joining Grab-Kudo," it added.

Since Grab’s founding in 2012, the company has also helped over 1.7 million micro-entrepreneurs open their first bank accounts.

"Grab is also helping to move the region into a cashless future. Cashless usage is up to 9 times higher on Grab, compared to overall country cashless usage," it said.

Under its "Grab for Good" social impact programme, the company aims to bring digital literacy and greater inclusion to 3 million
Southeast Asians by 2025, through partnerships with governments, private companies and non-profit organisations.

"To enable them to tap the cost-savings and increased productivity brought on by technology, Grab also aims to help over 5 million more traditional," it added.

Additionally, Grab aims to train 20,000 students through its technology talent initiatives in partnership with educational institutions, non-profit and leading technology companies under its Grab for Good programme.