Mastercard: Empowering Africa’s Small Businesses Through Financial Management Technology

Small, medium and micro enterprises (SMMEs) are responsible for 60% of all jobs in Africa and generate as much as half of the gross domestic product (GDP) in some countries. Yet, they operate in a predominantly cash-based economy and face a $330 billion financing gap, according to the World Bank.

To boost the contribution of small businesses and empower them to unlock their full potential, Mastercard pledged to bring 50 million SMMEs worldwide into the digital economy by 2025.