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Member News: How Mastercard Could Close a $300 Billion Credit Gap for Women Entrepreneurs

 

The Mastercard Center for Inclusive Growth is using technology to help entrepreneurs grow their business.

Micro-entrepreneurs are excluded from the traditional financial system due to their cash-based transaction system and are unable to build trust among financial institutions. 

According to the article, “As of 2017, 70 percent of women-owned MSMEs in the developing world lack access to adequate financing, representing a $300 billion credit gap each year.”
Mastercard partnered with Unilever to launch Jaza Duka, a digital lending platform in Kenya.The platform tracks how much a store owner is spending and the results are then sent to Kenya Commercial Bank for review of an interest-free credit line. 

In addition, the article includes a one-on-one interview with Mastercard executive, Shamina Singh to expand on the benefits of the Jaza Duka program. 
 

Non Financial ServicesGender FinanceSustainable Finance