State Bank of Pakistan and Meta Join Forces to Empower Women Entrepreneurs in Digital Economy

The State Bank of Pakistan (SBP) and Meta, the parent company of Facebook, WhatsApp, and Messenger, have announced a partnership aimed at empowering 500 women entrepreneurs and small enterprises in Pakistan on July 5 2023. The collaboration seeks to support women-owned businesses in their digital transformation journey through skill development and business inspiration.

Meta launched its 'SheMeansBusiness' program in Pakistan back in 2018, with the objective of facilitating women's entry into the digital economy. The initiative claims to have already trained over 9,000 Pakistani women business owners since its inception. This week, during the opening ceremony of "The Digital Bridge: Advancing Financial Inclusion for Pakistan" event in Karachi, SheMeansBusiness announced the commencement of its second phase.

The event witnessed the presence of officials from the Ministry of Commerce, representatives from the Women Chambers of Commerce and Industry, as well as notable figures from the banking, telecommunications, and business communities. In a news release by Meta, Sima Kamil, SBP Deputy Governor, emphasized the crucial role small businesses play in boosting the country's economy. Kamil expressed support for Meta's initiative, stating that empowering women entrepreneurs and small business owners in Pakistan will contribute to their growth and enable them to access international markets.

Beth Ann Lim, Director of Policy Programs at Meta, highlighted the significance of enhancing digital skills and revenue-generating channels for small business owners, particularly women entrepreneurs. Lim emphasized that by equipping them with expertise and resources, these entrepreneurs would have more opportunities to thrive in the competitive online environment.

The selection of participants for the new program will be conducted by Demo, an ideas consultancy, from the pool of small company owners who participated in the first phase of the SheMeansBusiness curriculum in Pakistan and the country's export-oriented chambers. The chosen participants will receive the necessary skills and resources to flourish in the digital landscape and expand their businesses.

Meta's local affiliated sales partner, Dial Zero, will provide advanced training on export advertising to 100 program participants. Additionally, Meta has announced that it will offer Facebook ad credits to help participants increase their online presence and attract local and international target clients.

The SBP-Meta partnership demonstrates a joint commitment to empower women entrepreneurs in Pakistan and promote their active participation in the digital economy. By equipping them with the necessary skills, resources, and access to international markets, the collaboration aims to foster economic growth and financial inclusion in the country.