MasterCard is partnering with Youth for Technology Foundation (YTF), a non-governmental organisation in Nigeria, to empower women in the country on financial literacy.
MasterCard used the celebration of the International Women’s Day, an annual celebration of women’s contribution to the world’s social, economic, cultural and political progress to disclose the partnership which is aimed at supporting the growth and development of women entrepreneurs across Africa.
Outside Youth for Technology Foundation (YTF) for Nigeria, Mastercard will also partner with two other NGOs for this programme: Junior Achievement South Africa (JA South Africa) for South Africa and Injaz for Egypt.
MasterCard says “supporting these female entrepreneurs is vital to their sustained growth, as they become self-sufficient and better able to provide for themselves and their families. This has a positive impact on their immediate community as well, with knowledge transfer and employment opportunities being created.”
The importance becomes even more evident when you consider that Africa has the world’s highest rate of working poverty – people who are employed but earning less than US$2 a day, according to the payment tech company.
The importance becomes even more evident when you consider that Africa has the world’s highest rate of working poverty – people who are employed but earning less than US$2 a day, according to the payment technology company.
Just like it has done in South Africa with JA South Africa and in Egypt with Injaz, MasterCard highlighted some efforts with YTF to improve the lives of women through financial literacy, technology and skills-enhancement training in the most populated country in Africa, Nigeria.
The efforts, according to MasterCard, includes the training and mentorship of 150 apprentices, talented young women who are now working for female business owners who have previously gone through or are currently going through the YTF programme.
MasterCard believes that this will create a ripple effect that will impact generations of women in Nigeria. To date, the partnership has impacted over 11,000 Nigerian women entrepreneurs across 14 states, according to the company.