Join on WhatsApp
Join on Telegram
Rabat – In partnership with Morocco’s Societe Generale banking group, Visa, a global leader in digital payment, has launched the “She’s Next” grant program in Morocco to provide support to female entrepreneurs and business leaders.
The “She’s Next empowered by Visa” is a global grant program that aims to remove universal barriers for female entrepreneurs by offering them access to capital, training, and networking opportunities.
Moroccan female entrepreneurs across all industries and sectors are invited to apply for one of five $10,000 (MAD 100,493) grants and a one-year coaching membership funded by IFundWomen. Applications are open until July 20, 2022.
Since the launch of the program in 2020, Visa has invested more than 2 million dollars to support the beneficiaries in the United States, India, Ireland, and elsewhere.
Following COVID-led economic disruptions, small businesses in Morocco continue to struggle, with female entrepreneurs experiencing greater challenges.
Gender disparity remains persistent within entrepreneurial initiatives in Morocco and across the world. A study by Visa highlighted the challenges female entrepreneurs face, including difficulty finding a business partner and securing funding, forcing many to use their personal savings to launch their businesses.
Read also: Moroccan Entrepreneur Among Most Influential CEOs of 2022
The majority of women surveyed believe that gender stereotypes negatively impact their business growth and profitability.
Through the “She’s Next” program, Visa is attempting to address the challenges women confront and draw attention to the gender imbalance that plagues entrepreneurship.
“Until this day, women are still underrepresented” and “the overall gender gap remains huge,” said Leila Serhan, Visa’s General Manager in North Africa, Levant, and Pakistan. Serhan added that “only 25% of entrepreneurs in MENA [region] are women, and they still face challenges, including access to capital and networking.”
Visa has also launched the “She’s Next” program in Egypt, Saudi Arabia, and the United Arab Emirates.
“Visa is committed to using the full power of our network, brand, and financial resources to put a spotlight on this growing economic force and help female entrepreneurs achieve their dreams,” said Alfred Francis Kelly, Visa’s chief executive officer and chairman.
