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.
