Mastercard Confidence Index Rates Women Entrepreneurs Highly In Digital Presence

MasterCard has announced that Women entrepreneurs led the way in digital presence in the Middle East and Africa (MEA) in its latest Small and Medium Enterprises(SME) research.

Mastercard MEA SME Confidence Index indicated that 81 percent of the region’s women entrepreneurs have a digital presence for their businesses, compared to 68 percent of their male counterparts.

Amnah Ajmal, Executive Vice President, Market Development, Middle East and Africa, Mastercard, said this in a statement on Wednesday.

Ajmal said that the latest research highlighted high digitalisation among women-owned businesses as an opportunity for broader SME recovery and digital economy growth.

“Despite the gender gap and social challenges, entrepreneurial women across the world and in the Middle East and Africa (MEA) are leading the way in tapping into the power of the digital economy to succeed and grow.

“This reflects the huge potential SME women entrepreneurs have when we accelerate their access to financial and digital tools which will enable greater gender parity in the business ecosystem,”

“In terms of a digital footprint of the region’s women entrepreneurs, social media (71%) leads the way, followed by a company website (57%).

“In new research by Mastercard, women-owned small and medium enterprises (SMEs) believe there are huge benefits of a cash-free economy to their businesses,” he said.

Ajmal said that the Mastercard MEA SME Confidence Index revealed that over 80 percent of women entrepreneurs had digital readiness for their business compared to their male counterparts but yet so few have access to funding for their business growth.

“Globally, women-owned businesses are well represented in the entrepreneurship space, yet it is estimated that they only access between two percent and 10 percent of commercial bank finance,” he said.

He said Mastercard was advancing social progress through financial literacy training to encourage the growth of entrepreneurship among women.

“Mastercard embarks on global commitment to connect 25 million women entrepreneurs to the digital economy by 2025, as part of its goal to build a more sustainable and inclusive world.

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”The Mastercard Centre for Inclusive Growth awarded a seed funding grant to The Omaness Skinfood Company, which will empower 10,000 women entrepreneurs in Nigeria to run their own skinfood merchant businesses.

“Through its partnership with Junior Achievement South Africa, Mastercard has empowered over 3,000 women to gain entrepreneurial skills, start their own ventures and create new jobs,” he noted.