81% Of Women Entrepreneurs In Africa Have Digital Business Presence

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.

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.

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 the 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, as part of its goal to build a more sustainable and inclusive world.

“The Mastercard MEA SME Confidence Index revealed that over 80 percent of women entrepreneurs have digital readiness for their business compared to their male counterparts but yet so few have access to funding for their business growth,” 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-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.

Growing confidence levels in digital as a business imperative are 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).