Entrepreneurial women in the Middle East and Africa (MEA) are leading the way in tapping into the power of the digital economy to succeed and grow despite the gender gap and social challenges.
In new research by Mastercard, women-owned small and medium enterprises (SMEs) in the region believe there are huge benefits of a cash-free economy to their businesses.
According to the inaugural Mastercard MEA SME Confidence Index, 81 percent of the region’s women entrepreneurs have a digital presence for their businesses, compared to 68 percent of their male counterparts.
In terms of a digital footprint of the region’s women entrepreneurs, social media (71 percent) leads the way, followed by a company website (57 percent). In the Middle East and North Africa, more women entrepreneurs had a website (71 percent) than a social media presence (55 percent).
These findings are aligned with Mastercard’s global commitment to connect 25 million women entrepreneurs to the digital economy by 2025.
“Globally, women-owned businesses are well represented in the entrepreneurship space, yet it is estimated that they only access between 2-10 percent of commercial bank finance. 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,” said Amnah Ajmal, executive vice president, Market Development, Middle East and Africa, Mastercard.
According to the Mastercard survey, confidence levels around digital transactions are high with 30 percent of women entrepreneurs in MEA experiencing no challenges in accepting more payments digitally versus cash payments.
In the 2020 Mastercard Index of Women Entrepreneurs (MIWE), evidence already emerged of how women business owners have reacted to a new world of work with renewed confidence and adaptability, tapping into new business opportunities or realigning their business models to cater to new consumer behaviour and local or global needs.
Follow us on
