Login

Lost your password?

Sign Up

Register

Login

Login

Lost your password?

Register

Friday, May 27, 2022
  • Home
  • Banking
  • Industry & Trade
  • Investing
  • Money Deals
  • Regional Markets
  • Tech & Biz
  • Countries
  • Opinion

Africa's
Investment
Gateway

The Exchange
  • Login
  • Register
Subscribe
This Month's Edition
Previous Editions
  • Home
  • Banking
  • Industry & Trade
  • Investing
  • Money Deals
  • Regional Markets
  • Tech & Biz
  • Countries
  • Opinion
No Result
View All Result
The Exchange
  • Home
  • Banking
  • Industry & Trade
  • Investing
  • Money Deals
  • Regional Markets
  • Tech & Biz
  • Countries
  • Opinion
No Result
View All Result
The Exchange
LOGIN
Women Entrepreneurs

women living in the African diaspora send more money home for household activities and needs than men / File

Women Entrepreneurs dominating digital presence in Africa: MasterCard

81 percent of the region’s women entrepreneurs have a digital presence for their businesses

by Wanjiku Njugunah
August 18, 2021
in East Africa, Kenya
0
Share on FacebookShare on LinkedIn

A new report now indicates that women entrepreneurs 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.

According to the inaugural Mastercard MEA SME Confidence Index, women-owned small and medium enterprises (SMEs) believe there are huge benefits of a cash-free economy to their businesses.

As such, 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).

It also found that over 80 percent of women entrepreneurs have digital readiness for their business compared to their male counterparts.

Commenting on the finding, Mastercard’s Executive Vice President, Market Development for MEA Amnah Ajmal said that despite this, there are still so few women who have access to funding for their business growth.

According to the Vice President, women-owned businesses are well represented in the entrepreneurship space globally, yet it is estimated that they only access between 2 and 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.

From presence to payments, digital and cash-free economy leads

https://theexchange.africa/
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) /UNSPLASH

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 – especially mobile payments (62 percent), online payments (57 percent) and card payments (45 percent).

In Southern Africa this confidence is further elevated with two-thirds (67 percent) seeing no challenges to accepting more payments digitally.

Rwanda teams up with With MasterCard

Growing confidence levels in digital as a business imperative is tied to a deeper understanding and wider recognition among SMEs of the advantages that result from a growing digital economy.

When asked about the biggest benefits of a cash-free economy to their businesses, women entrepreneurs highlighted the increased efficiency of transactions across multiple channels (60 percent) and the ease of not handling or processing cash (60 percent).

They also appreciated having a more convenient way of paying suppliers and employees (59 percent), faster access to revenues (55 percent), less potential for fraud (53 percent) and access to new business growth opportunities (50 percent).

Innovative risk-takers

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 behavior and local or global needs.

Despite challenges around funding, support and attention, Uganda, Botswana and Ghana were ranked as the world’s three leading economies having the most women business owners (WBO) as a percentage of total business owners in the 2020 MIWE.

The report also mentioned a high regard for risk taking, innovativeness, individuality and creativity in entrepreneurship prevalent in Nigeria and Angola. Growing the contribution of women entrepreneurs is a positive sign, as almost half of female entrepreneurs (48.7 percent) around the world report being driven by a desire to contribute to the greater societal good.

In addition to empowering women-led businesses everywhere with digital payments acceptance tools, Mastercard is also advancing social progress through financial literacy training to encourage the growth of entrepreneurship among women.

This comes on the back of a finding conducted in Kenya indicating that digital devices and services have improved the daily lives of 84 percent of Kenyans.

According to the Dalberg study, nearly one third of Kenyan respondents say that digital presence had boosted their incomes.

The survey highlights uptake in areas beyond mobile money including usage of digital services for supporting livelihoods, e-commerce and e-governance.

The report is based on responses to a nationally representative survey conducted between November-December 2020 of more than 2400 Kenyans.

MasterCard, IFC reports 250% increase in Africa financial inclusion

Tags: africa investmentAfrica women entrepreneursAfrican SMEsdigital technologyFeatured

STATE OF ECONOMY - GET THE REPORT

ASSESSING EAST AFRICA

Loading...

Wanjiku Njugunah

Wanjiku Njuguna is a Kenyan-based business reporter with experience of more than eight years.

Related Posts

Growth in employment earmarks Kenya's post-pandemic economic recovery. www.theexchange.africa
Countries

Growth in employment earmarks Kenya’s post-pandemic economic recovery

May 11, 2022
www.theexchange.africa
Banking

Kenya: Business conditions worsen as customer demand declines

May 9, 2022
www.theexchange.africa
Business

Kenya: President Kenyatta Increases Minimum Wage by 12 Per Cent

May 2, 2022
Next Post
Covid-19 still impacting Kenya’s paints market – The Exchange

Virus still a threat to paints market in Kenya: Expert

Qatar Airways makes entry to Zimbabwe

Qatar Airways entry into Zimbabwe will boost economy

5G Network to enhance development in Africa

Why 5th Generation Network is Significant in Propelling Socio-economic Prosperity

Please login to join discussion




This months edition

May Edition

Features

EdTech role in African development
Tech & Business

EdTech’s role in African development

by Kanyali Muthui
May 16, 2022
0

Due to the pandemic, the topic of innovation in education has never been more crucial.  While most developed countries moved...

Read more
investment in African science and technology
Tech & Business

Investing in Africa’s science and technology: Where are we now?

by Kanyali Muthui
May 16, 2022
0

The continent’s digital revolution can largely be driven by building the necessary skills for the short- and long-term future, and...

Read more
Fintech revolution in Africa
Tech & Business

The Fintech Revolution in Africa’s FX Markets

by Kanyali Muthui
May 11, 2022
0

With over 548 million registered mobile money users in sub-Saharan Africa, increased internet access and readily available mobile money solutions,...

Read more
www.theexchange.africa
Countries

US – Nigeria Trade Relations: An Overview

by Wanjiku Njugunah
May 2, 2022
0

Nigeria is currently the United States' 54th largest goods trading partner, with US$7.8 billion in total goods trade as of...

Read more
A previous conference for African Insurtech sector. The Insurtech boom is deepening insurance uptake in Africa. www.theexchange.africa
Tech & Business

Insurtech boom deepening the uptake of insurance in Africa

by june njoroge
May 2, 2022
0

Kenya-based Pula is another distinguished insurtech making waves in the continent. It provides small scale farmers with agricultural insurance and...

Read more

News

Banking
Industry & Trade
Investing
Money Deals
Regional Markets
Tech & Biz
Opinion

Countries

Kenya
Tanzania
Uganda
Burundi
Rwanda
Southern Africa
Ethiopia

More

My Account
Contact us
Advertise
About us
Help Center

Subscribers Center

E-paper
Premium Stories
Education Rates
Corporate Subscriptions
Weekely Newsletter

  • My account
  • About us
  • Advertise
  • Contact
  • Privacy Policy
  • Refund Policy – The Exchange
  • Sitemap

No Result
View All Result
  • Home
  • Banking
  • Industry & Trade
  • Investing
  • Money Deals
  • Regional Markets
  • Tech & Biz
  • Countries
  • Opinion
  • Login
  • Sign Up
  • Cart

© 2021 The Exchange - Powered by MediapixManaged by Supported by Digihandler,

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In