Mastercard & CARE Launch Strive Women

The Mastercard Strive Women program was launched on November 16, 2023 at the APEC CEO Summit by Mastercard's Center for Inclusive Growth and CARE, a worldwide humanitarian organization. This effort, supported by a $9 million grant from the Mastercard Impact Fund, aims to improve the financial health and resilience of small enterprises in Peru, Vietnam, and Pakistan, with a particular emphasis on those managed by women.

Strive Women will cooperate with local partners to deliver personalized financial products and support services, recognizing the critical role of women-led enterprises in global economies. The initiative intends to reach 6 million entrepreneurs through awareness campaigns and personally assist over 300,000 entrepreneurs, the majority of whom are women, in order to stimulate company growth and economic potential.

Strive Women builds on CARE and the Center's success with the Ignite initiative, which generated $154.9 million in loans from a $5.26 million grant. Notably, 79% of female Ignite program participants reported greater sales, and 89% expressed better confidence in company management.

"The Ignite training has given me the confidence to grow as a woman," said Kausar Parveen, a Pakistani businesswoman. People who used to tell me that business was not for women now appreciate me for who I am."

Strive Women will address the particular gender hurdles that women-led enterprises confront, such as those connected to the climate issue and childcare. The program strives to empower small company owners by balancing home and business cashflow, bracing for financial shocks, and strengthening women's decision-making authority through a women-centered approach.

Michelle Nunn, President and CEO of CARE USA, underlined the significance of empowering women entrepreneurs, stating that research shows that women are better entrepreneurs and financial consumers than males.

Mastercard Strive Women is part of Mastercard's bigger humanitarian initiative, Mastercard Strive, which helps small companies across the world thrive in the digital economy. The program's purpose is to establish a fairer ecosystem for women-led small enterprises, which will contribute to the larger goal of promoting financial stability and economic empowerment for millions of entrepreneurs worldwide.