Amnah Ajmal - Afrikan Heroes

Mastercard Partners Meta to Support SMEs in Africa

December 2, 2021

Amnah Ajmal, EVP, Market Development, Middle East and Africa, Mastercard

Access to credit, data, training and digital tools are among the key challenges for SMEs, further compounded by infrastructure limitations and power supply interruptions in some MEA markets. As research increasingly points to offering choice, SMEs must adapt to a growing hybrid environment with a demand for e-commerce and new payment options.

To this end, global card giant, Mastercard is collaborating with Meta ( formerly Facebook) to support the digitization and growth of SMEs across the MEA (the Middle East, & Africa) region by organizing a training webinar that will provide SMEs insights from industry experts, and a masterclass on how to manage uncertainty from renowned authors and academic Nathan Furr, Associate Professor of Strategy at INSEAD. The event takes place on Wednesday, 8 December at 12h00 SAST.

“The challenges that small and medium businesses continue to experience because of COVID-19 are significant, and we remain firmly committed to supporting them in both recovering and, in due time, thriving. We have an important role to play, providing the necessary digital skills for start-ups and small businesses to survive, recover and deliver results online and offline. We are continuing those training efforts in partnership with Mastercard, helping further boost a burgeoning start-up ecosystem to positively impact socio-economic growth across the region,” said Derya Matras, VP, Middle East, Africa & Turkey, Meta.

“Small businesses form the backbone of local communities, driving the growth of the global economy. The SME segment was highly impacted during the pandemic due to the lack of scale and access to capital. This is a critical time for entrepreneurs and small business owners to have that access to the right resources, insights, tools, and solutions to recover from the impact of the pandemic and thrive. Our partnership with Meta will help support SME growth in the region,” commented Amnah Ajmal, EVP, Market Development, Middle East and Africa, Mastercard.

Although challenges related to the pandemic remain, small businesses in the Middle East & Africa are reclaiming confidence. The recent 2021 Mastercard MEA SME Confidence Index found 74% of SMEs in the region are optimistic about future growth, guided by the potential for digitalization, better data, access to credit and upskilling.

Through technology services, cyber assessments, insights, grants, digital training, mentoring platforms and knowledge initiatives, Mastercard will contribute $250 million over five years to support small businesses’ financial security globally.

As part of its goal to build a more sustainable and inclusive world, Mastercard has committed to connecting 50 million small businesses, including 25 million women entrepreneurs globally, to the digital economy by 2025.

For years Mastercard has been focused on moving businesses at the margins to digital growth in the mainstream. Mastercard’s extensive experience with financial inclusion, and its commitment to include 1 billion people by 2025, makes the company uniquely suited to lead at this critical inflexion point.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Mastercard Expands Cashless Payment Functionality for Uber MEA

April 10, 2021

The Middle East and Africa (MEA) region is poised to have Mastercard’s new initiative focusing on digital payments and advancing financial inclusions for Uber across the region. As a regional first, the partnership with Mastercard will enable Uber to drive digitisation across their business operations, leveraging Mastercard’s single infrastructure to meet all types of payments needs across Uber Rides, Uber Eats, Uber Pass, and Uber for Business.

Amnah Ajmal, Executive VP Market Development of Mastercard

It is intended that the partnership will boost cashless payments, drive digital payment acceptance, reward loyalty, while supporting Uber’s continued social impact collaboration.

The Economy 2021 report released by Mastercard notes that the economic impact of COVID-19 has introduced permanent changes in digital consumer spending habits, growth of online banking, fintech disruption and opportunities to boost financial inclusion.Through the partnership, both companies can bridge the financial inclusion gap through a broad range of efforts.

“Mastercard continues to partner with digital players across the value chain to build a more connected world,” says Amnah Ajmal, Executive VP Market Development of Mastercard.

“Enabling secure, immediate movement of money for individuals in the gig economy workers and customers is especially vital as we support economic recovery efforts. Through our growing partnership, we are enabling the company’s long-term business growth as a result of improved operational efficiencies, driving greater financial inclusion and innovation across the region, and ultimately boosting the growth of the digital economy in MEA.”

Last year, Uber in South Africa launched a product called Uber Pass, which will now be available across most cities in MEA, with Mastercard becoming a key distribution partner to help drive adoption.

“This is the largest partnership for us across MEA, and we are proud to be working together to bring key financial solutions to driver-partners across MEA. Driver’s well-being is a top priority and putting opportunities they want within reach is important to us,” adds Tino Waked, Regional GM of Middle East & Africa.