Mastercard and Meta are collaborating to support the digitization and growth of SMEs in the MEA (Middle East and Africa) region by hosting a training webinar with industry experts and a masterclass on how to manage uncertainty with renowned authors and academic Nathan Furr, Associate Professor of Strategy at INSEAD.
SMEs have numerous hurdles, including loans, data, training, and digital tools, which are exacerbated by infrastructural constraints and power outages in some MEA economies. SMEs must adapt to a rising hybrid environment with a desire for e-commerce and new payment options, as research increasingly indicates to offering choice.
“Small and medium enterprises continue to face substantial obstacles as a result of COVID-19, and we are dedicated to assisting them in recovering and, eventually, succeeding.” We have a critical role to play in ensuring that start-ups and small businesses have the digital skills they need to survive, recover, and produce results both online and offline. “We’re continuing our training efforts in conjunction with Mastercard to assist strengthen a developing start-up ecosystem and positively affect socio-economic progress across the area,” said Derya Matras, Meta’s VP of Middle East, Africa, and Turkey.
“Small enterprises are the lifeblood of local communities, propelling the global economy forward.” Due to a lack of scale and money, the SME market was severely damaged during the epidemic. Entrepreneurs and small company owners need access to the proper resources, insights, tools, and solutions now more than ever to recover from the pandemic’s effects and grow. Amnah Ajmal, EVP, Market Development, Middle East and Africa, Mastercard, said, “Our cooperation with Meta will help support SME growth in the area.”
Mastercard will donate $250 million over five years to enhance small businesses’ financial security around the world through technological services, cyber assessments, insights, grants, digital training, mentoring platforms, and knowledge projects.
Mastercard has pledged to link 50 million small companies, including 25 million women entrepreneurs, to the digital economy by 2025 as part of its ambition to create a more sustainable and inclusive society.
The event will take place at 12h00 SAST on Wednesday, December 8th.
Visit the website for additional details.