KARACHI
\nMastercard has revealed the fifth-annual Mastercard Index of Women Entrepreneurs (MIWE) exploring the progress of women entrepreneurs in 65 economies around the world, representing 82.4% of the global female labor force.
\nAcross the entrepreneurial landscape, women are one of the global economy\u2019s most valuable assets. However, whilst they make up half of the world\u2019s population, women own only a fifth of its exporting companies and 80% of women-owned businesses with credit needs are either unserved or underserved. Furthermore, the contribution of women to the wider economy is significantly underrepresented in reports and indices on startups and economic conditions.
\n\u201cIt\u2019s crucial that we focus on sustainable, inclusive growth in order to boost economic recovery across the Pakistan, Middle East, and North Africa \u2013 and that can only happen if we empower women entrepreneurs and support women-owned businesses. We must double our efforts in this part of the world to ensure we can reap the potential of women\u2019s participation.
\nThe Mastercard Index of Women Entrepreneurs helps us to identify both the challenges and opportunities, as well as the progress and improvements, to guide all stakeholders on the necessary future support needed.
\nThe digital economy remains a key opportunity, and by connecting women entrepreneurs to digital tools, training and insights, we can collectively ensure that they are part of building and benefiting from future prosperity,\u201d said Khalid Elgibali, Division President \u2013 Middle East and North Africa, Mastercard.
\nWomen\u2019s employment rose in 14 of the economies assessed by the latest MIWE edition, but data from the International Labour Organization shows women\u2019s employment declining 5% compared to 3.9% for men worldwide in 2020. Despite global efforts over the last two years to mitigate the impact of the pandemic, COVID-19 has had a disproportionate effect on women.
\nThis threatens to roll back decades of progress towards attaining gender parity in the workplace and in business, adding another 36 years to the estimated time it will take to close the global gender gap (World Economic Forum \u2013 The Global Gender Gap Report 2021). So far, 61% of the gender gap has been closed in MENA, and but at current progress, it will take another 142 years to reach parity.<\/p>\n","protected":false},"excerpt":{"rendered":"
KARACHI Mastercard has revealed the fifth-annual Mastercard Index of Women Entrepreneurs (MIWE) exploring the progress of women entrepreneurs in 65 economies around the world, representing 82.4% of the global female labor force. Across the entrepreneurial landscape, women are one of the global economy\u2019s most valuable assets. However, whilst they make up half of the world\u2019s […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-251573","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n