In the coming months, the global technology leader will announce collaborations with leading institutions from the public and private sector in the buildup to the official Hub launch later this year.  

Mastercard Academy offers expert led in-person and virtual courses, including gold-standard certifications, from over 200 experts across Mastercard’s global network. The comprehensive offering provides payment professionals with limitless learning at their fingertips, with content being continuously updated to reflect the latest trends. To date, Mastercard Academy has hosted live training sessions for over 42,000 attendees, delivered more than 7,000 trainings and achieved 98% customer satisfaction.  

Through the Academy Hub, Mastercard will host financial industry players from across the globe in Qatar to equip them with highly sought-after knowledge and skills that will enable them to take their careers to the next level. 

“Over three decades ago, we set out on a mission to empower our customers and partners with the knowledge, skills and insights needed to thrive in the world of payments. This led to the inception of Mastercard Academy. In line with our commitment to investing in Qatar, a country that is home to a dynamic financial ecosystem, we are proud to bring the Mastercard Academy Hub to Doha. The upcoming opening of the Hub will enable us to boost innovation capabilities in the region and strengthen our relationships with the government, educational institutions and businesses,” said J.K. Khalil, division president, East Arabia, Mastercard. 

Mastercard’s geographical presence and market position in Qatar have witnessed a sustained growth. The country is well on its way to becoming one of the company’s global hubs. With its strong understanding of local trends and the ability to develop innovative, seamless and secure digital offerings, Mastercard is at the forefront of the nation’s digital transformation.

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As part of its commitment to advancing financial inclusion, Mastercard has launched this report across its Eastern Europe, Middle East and Africa (EEMEA) region, including Egypt. The initiative is designed to champion women entrepreneurs, provide key business insights and drive tangible solutions to break down systemic barriers.

“Our research highlights the remarkable entrepreneurial spirit among women across the EEMEA region. While progress has been made, challenges remain, reinforcing the need for stronger support. At Mastercard, we are dedicated to nurturing the next generation of small business leaders and equipping them with the tools they need to grow and thrive,” said Selin Bahadirli, executive vice president, Services, Eastern Europe, Middle East and Africa, Mastercard.

In Egypt, a significant proportion of men (41%) and women (38%) identify as entrepreneurs, reflecting the country’s evolving business landscape. In contrast to the rest of EEMEA, older generations, especially Gen X (54% of men and 51% of women) are more likely to consider themselves entrepreneurs than millennials and Gen Z.

77% of women in Egypt have considered starting or running their own business. This increases to 83% among Gen Z women. However, more than half (56%) of Egyptian women are yet to do so.

As well as formal business ventures, half of Egyptian women have a side hustle to make money outside of their main job, rising to 59% among Gen X women. For many women, the entrepreneurial spirit is inspired by an appetite to earn more money (60%), save for a specific goal (52%) and gain financial independence (45%).

The most commonly cited reasons for starting their business among women founders in Egypt are that they wanted to pursue their dream (48%) or had a brilliant idea that they needed to see through (39%). 37% of women said they desired freedom from traditional working structures, the same number wanted a better work-life balance, an equal number felt the time was right in their life, and the same percentage believed their idea could improve people’s lives. The last number is far higher than the global average, where 20% of women cited this as a motivation for starting their business.

The top sectors in which Egyptian women would like to start a business include education (24%), cosmetics (20%), and marketing/advertising/PR/market research (17%).

In an encouraging finding, 98% of women business owners in Egypt are optimistic about revenue growth over the next five years. This number is higher than in the rest of EEMEA (89%).

Despite the evident appetite for entrepreneurship, the research shows that for many women, including current business owners, there are challenges. The risk of failure (30%) and getting the capital to launch (25%) are reported as the biggest challenges preventing women from starting a business. Meanwhile, women are more likely than men to view lack of confidence as a hurdle (8% vs. 6%).

Among women who have already founded a business, 37% say the biggest challenge when starting out was assessing critical digital infrastructure, such as payment systems, and 35% were struggling to find funding. A third say the biggest challenge was knowing which technology was right for their business. More than a quarter (26%) of women want to build a sustainable business but do not know how – this is similar to all women across EEMEA (31%).

Training on how to develop a business plan (38%), access to AI tools to solve business challenges (34%) and having a business partner (33%) would make Egyptian women feel more confident in starting their own business. The research notes that women in the country are more open to embracing advanced technologies to help them do business than their male counterparts. 73% of Egyptian founders (men and women) regularly use AI in their business, and 87% say it has delivered significant cost and/or time savings for their business.

In terms of cybersecurity, 81% of men and 80% for women feel the need to better educate themselves about how to protect their business from a potential cyberattack. However, men (41%) are more likely than women (24%) to admit they are unsure how to protect their business from a cyberattack. These findings highlight the key role of secure digital transactions in business success.

Mastercard’s survey sends a clear message that Egyptian women have the ambition to shape the future of business yet are facing significant challenges. As International Women’s Day 2025 approaches, the company remains committed to fostering an inclusive digital economy where women entrepreneurs are not just supported but celebrated as key drivers of economic progress.

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As SMEs in Saudi Arabia continue to innovate and expand, the Mastercard SME Confidence Index serves as a key benchmark for understanding their dynamic needs.

A significant majority (93%) of the SMEs surveyed in the Kingdom are confident about the next 12 months. Business owners are recognizing the critical role of seamless and secure transactions in today’s marketplace while prioritizing the adoption of advanced data analytics and insights, viewing these tools as essential for informed decision-making and strategic growth.

“Small and medium enterprises are the backbone of economies, driving innovation, employment, and resilience. As digital transformation accelerates, SMEs are unlocking new opportunities through digital payments and financial inclusion. Their ability to adapt and grow in a rapidly evolving business landscape reflects the strength of an ecosystem that prioritizes access to finance, digital enablement, and sustainable growth,” said Dimitrios Dosis, president Eastern Europe, Middle East and Africa, Mastercard.

“The confidence among SMEs in Saudi Arabia highlights the strength and adaptability of this sector. As businesses continue to embrace digitalization and new technologies, access to secure payments, data-driven insights and financial solutions will be key enablers of their success. At Mastercard, we remain committed to supporting SMEs with the tools, partnerships and innovations they need to grow and contribute to the Kingdom’s evolving economy in line with the objectives of Vision 2030,” said Adam Jones, division president, West Arabia, Mastercard.

Digital payments as a cornerstone of SME growth
The widespread adoption of digital payments among Saudi SMEs underscores a strategic move towards efficiency and customer satisfaction. With 99% of the SMEs surveyed in Saudi Arabia now accepting digital payments – an increase from 88% in the Mastercard SME Confidence Index 2023 – business owners are leveraging digital transactions to fast-track their growth.

SMEs cite enhanced credibility with government and financial institutions (56%), streamlined transactions with suppliers and employees (55%) and faster access to revenues (55%) as the top benefits of a digitized economy.

Harnessing data and analytics for strategic advancement
In an increasingly data-driven world, 97% of the SMEs surveyed recognize the importance of better data, analytics and insights in strengthening their businesses. This approach enables enterprises to optimize operations, enhance decision-making and unlock new market opportunities, contributing to long-term resilience and growth.

The study also found that as digitalization accelerates, business owners are prioritizing secure, user-friendly and data-driven financial solutions to stay competitive in a rapidly evolving market.

Saudi SMEs prioritize innovation and digital inclusion for growth
As Saudi Arabia’s SME sector continues to evolve, business owners are focused on leveraging innovation and expanding digital inclusion to sustain long-term growth. Many SMEs see artificial intelligence (AI), automation and digital platforms as essential tools for streamlining operations and enhancing customer engagement. According to the Mastercard SME Confidence Index, 72% of the SMEs surveyed have identified AI adoption as a key priority, reflecting a growing emphasis on digital transformation.

Private sector collaboration is also viewed as a key driver of success, with 66% of the SMEs surveyed highlighting the importance of partnerships in gaining access to financial resources, technology and business insights. Additionally, as businesses embrace digital transformation, 97% of the respondents believe cybersecurity and regulatory support remain top considerations for ensuring a secure and resilient commercial environment.

Aligning with Vision 2030’s emphasis on economic diversification and SME empowerment, Mastercard last year announced the launch of a local technology infrastructure to process e-commerce transactions efficiently, reinforcing its position as an enabler of Saudi Arabia’s digital economy. Under the patronage of the Saudi Central Bank (SAMA), Mastercard Gateway continues to enhance the Kingdom’s digital payments ecosystem, providing businesses with seamless, secure payment solutions to drive growth and innovation in the ecommerce sector.

Additionally, Mastercard joined forces with Saudi Awwal Bank (SAB) to introduce the SME Business credit card that enables small businesses to manage their finances efficiently while facilitating access to credit.

As Saudi Arabia’s SMEs continue to innovate and expand, Mastercard remains dedicated to providing the necessary support through advanced technology, strategic partnerships and tailored solutions.

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The integration of the solution will enable merchants to offer fast, seamless, and secure transactions as well as convenient payment choices to customers.

The new partnership between MyFatoorah and Mastercard aims to evolve the region’s e-commerce landscape, enabling seamless shopping experiences, higher conversion rates, and helping to reduce fraud.

Abdullah Aldabbous, Founder & Managing Partner of MyFatoorah, said: “The shifting demands of consumers and the fast pace of change in e-commerce are fuelling innovation in payments. Our collaboration with Mastercard to introduce Mastercard Gateway reflects our dedication to improving the online shopping experience and making e-commerce more seamless.”

Gina Petersen-Skyrme, Country Manager, UAE & Oman at Mastercard, said: “Mastercard is dedicated to broadening the spectrum of innovative payment solutions across the region. We are excited to collaborate with MyFatoorah to introduce Mastercard Gateway. This partnership not only strengthens our digital payment acceptance network but also aligns with our mission to enhance everyday experiences for consumers.”

Mastercard Gateway offers advanced payment processing and fraud prevention technology to acquiring banks, merchants, micro-merchants, and technology partners. It provides its partners with the reach, security and innovation to compete in the world of digital payments. Since being founded in Kuwait in 2016, MyFatoorah has grown to provide tailored payment solutions to over 75,000 merchants in GCC, Jordan, and Egypt across a diverse array of sectors, including government, education, marketplaces, group retail, and insurance.

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According to the latest S&P Global FinLit Survey, only 33% of adults – 35% of men and 30% of women – worldwide are financially literate. This means that around 3.5 billion adults, most of them in developing economies, lack an understanding of basic financial concepts.

Mastercard’s financial literacy program removes geographical barriers to financial education and promotes greater access to financial services in line with the company’s goal of connecting one billion individuals worldwide to the digital economy by 2025.

The engaging course features interactive lessons, quizzes and real-world examples across four key areas: electronic payments, budgeting, credit scores and financial security. Available worldwide, the new proposition underscores the importance of education in advancing Mastercard’s mission to power economies and empower people on a global scale.

“At Mastercard, we are dedicated to democratizing financial literacy and ensuring that everyone has access to the tools they need to achieve their financial goals. Our new free online course removes the confusing jargon and cracks the code on everyday finances. This way, it equips individuals, particularly those in underserved communities and young adults, with the knowledge and tools needed to manage their personal finance with confidence, achieve their financial goals and avoid common financial pitfalls,” said Driss Belemlih, Executive Vice President of Customer Delivery, EEMEA at Mastercard.

Additionally, Mastercard’s customers can leverage the free access to the course to reach the unbanked, youth and gig worker segments in their regions, helping integrate them into the digital economy and establish brand affinity early on.

A report published in The World Bank Economic Review shows that individuals who participate in financial education programs are likely to see a significant improvement in their financial knowledge and adopt more positive financial behaviors.

Mastercard Academy offers access to on-demand and instructor-led training from over 200 experts across Mastercard’s global network. Their comprehensive online learning platform equips the company’s customers and partners – and now also the public – with professional insights, skills and knowledge they need to succeed in the world of payments.

The ‘Master Your Card: Finance Demystified’ course is accessible here.

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The entities hosted three workshops across Jeddah, Riyadh, and Khobar, with more than 100 participants across all the cities. Each workshop enabled the opportunity to foster connections among women from around the Kingdom, offering participants access to all-important learning and networking. The competition held at each workshop also provided the opportunity for one winner form each city to be granted the mentorship program.

Reima Sras, founder of Buthoor Tech, Munirah Alkadi, founder of Mawsim, and Sarah Albaiz, founder of Qantara Studio were selected as the competition’s three winners, each being enrolled on the innovative ‘Her Voice’ mentorship program facilitated by Blossom Accelerator.

Each participant was evaluated based on leadership, product viability in the market, business model strength, and other key criteria.

“As more Saudi women take the reins of leadership and drive the future of the Kingdom’s SME space, we must work to ensure that we continue pioneering innovative programs that bridge the entrepreneurship gender gap,” said Maria Medvedeva, Country Manager, Saudi Arabia, Mastercard. “At Mastercard, we believe collaboration is crucial to launching the effective platforms required to accomplish this goal, and we are pleased to have partnered with Saudia and Blossom Accelerator to empower even more women for season three of ‘Her Voice’. We look forward to seeing our mentees grow, flourish and thrive, realizing their considerable potential and serving as champions of Saudi female excellence.”

Essam Akhonbay, Vice President of Marketing at Saudia, stated: “As Saudi Arabia’s national flag carrier, we are deeply invested in the nation’s future and believe women are central to its success. Through ‘Her Voice,’ we empower female entrepreneurs to thrive, inspiring future generations and creating pathways for small businesses to prosper. By showcasing their remarkable stories on our in-flight entertainment system, we not only highlight their achievements but also reinforce Saudia’s commitment to promoting local content that fuels economic growth and social progress.”

“At Blossom Accelerator, we are proud to be a global leader in driving inclusive innovation, recognizing that diverse perspectives are key to unlocking economic potential and maximizing investment returns. Our mission is to empower female-led startups across the globe, equipping them with the essential tools and resources to excel in the competitive digital economy,” said Emon Shakoor, CEO & Founder. “We are thrilled to partner with Mastercard for the third season of ‘Her Voice,’ a strategic initiative aimed at amplifying the impact of women-led startups and SMEs. Through our comprehensive mentorship program, we provide participants with critical insights, invaluable experiences, and powerful connections to enhance their growth and attract investment.”

‘Her Voice’ season three shed an informative light on the stories of five guests — five inspiring women — showcasing how their love for their respective passions drove them to overcome the various hurdles they faced and attain unprecedented success.

The season focused on connecting people to their passions, with each episode exploring a different passion point, namely: “Gaming,” “Tech,” “Sustainability,” “Culinary,” and “Sport”. Over the course of each interview, guests recounted their personal and professional journeys in their own voices in conversation with the host, renowned Saudi actress and broadcaster, Danyah Shafei.

To tune into ‘Her Voice’ seasons, please click here: https://www.priceless.com/m/hervoice

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The podcast adds to the 5,000 hours of content available on Saudia’s Beyond inflight entertainment system, offering a high-quality interactive experience with a diverse range of content suitable for various guest preferences and age groups in more than 16 languages.

This season, Saudia and Mastercard are joining forces with Blossom Accelerator, Saudi Arabia’s first tech-inclusion and female-focused accelerator. Together, they will host three workshops in Jeddah, Riyadh, and Khobar, offering budding female entrepreneurs, aspiring leaders, and small business owners invaluable learning and networking opportunities.

Additionally, a competition will be launched, inviting startups to present their business concepts at priceless.com/hervoiceS3 for a chance to win a one-year mentorship program by Blossom Accelerator.

Essam Akhonbay, Vice President of Marketing at Saudia, said: “Saudia has been a pioneer in supporting women’s professional growth. By including ‘Her Voice’ on our in-flight entertainment system, we continue to champion women’s stories while enhancing our guests’ experience. Our Beyond entertainment system, with its extensive and interactive content, perfectly complements this initiative.”

Maria Medvedeva, Country Manager, Saudi Arabia, Mastercard, stated: “Amplifying the incredibly moving stories of Saudi women from all over the Kingdom, Her Voice has serves as the clarion call for the recognition of excellence. With women being at the heart of the Kingdom’s transformation into a global hub of innovation and nerve center of regional entrepreneurship, it is vital that we share their inspiring narratives with the rest of the world. We aim to continue doing exactly that with the third season of the podcast series, working closely with Saudia to action lasting and meaningful change.”

True to the spirit of the podcast, Season 3 of ‘Her Voice’ will spotlight the stories of seven inspiring women, showcasing how their passion for their respective fields helped them overcome various challenges and achieve unprecedented success.

Premiering on Aug 27th, this season will focus on connecting people to their passions, with each episode exploring a different area: ‘Culinary,’ ‘Entertainment,’ ‘Sport,’ ‘Tech,’ ‘E-gaming,’ ‘Sustainability,’ and ‘Travel’. As with the previous seasons of the podcast series, guests will be invited to recount their personal and professional journeys in their own voices in conversation with the host, renowned Saudi actress and broadcaster, Danyah Shafei.

Tune into ‘Her Voice’ on https://www.priceless.com/hervoiceS3

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“At Mastercard, we are committed to working with local ecosystem players to drive the growth of innovative payment solutions across the region with the aim of bridging the digital gap, enhancing financial inclusion and improving access to financial services. With its in-depth knowledge of the fintech landscape, Scale is our ideal partner in achieving these goals,” said Amnah Ajmal, Executive Vice President, Market Development, EEMEA, Mastercard.

Mastercard and Scale will support fintech companies and other ecosystem players in securing BIN sponsorships, building sustainable unit economics, designing and commercializing their card and other payment programs, productization, assessing profitability models for their programs and delivering world-class customer experience. Together with their partners, they will co-create inclusive value propositions that are poised for long-term growth.

The collaboration will evolve into a technology proposition, enabling any tech company to acquire the Mastercard issuing capability through Scale.

“Fintech companies move at speed and require commercially viable collaborations with experienced companies that cater to a cost-sensitive market. Through our exciting partnership with Mastercard, we are solving a major pain point and providing a single point of contact while absorbing the complexities of seeking a bank BIN sponsor, third-party processor and other payment solution providers. This combined ecosystem service allows fintech players to focus on their core business, and us to focus on ours – streamlining processes, enabling payments and supporting the program’s growth to earn revenues faster,” said Miranda Perumal, Co-Founder & CEO, Scale.

Mastercard will plug in its managed services into the partners’ systems and run their card program implementation from end to end. In the post-launch period, Scale will assist the partners in growing their portfolios, driving revenues and achieving profitability by understanding consumer behaviors, market dynamics and competitors.

The partnership will bring a variety of advantages not only to fintech companies but also to a wide range of other players across the ecosystem.

For financial institutions, it will facilitate collaborations with stakeholders in the card value chain. Meanwhile, merchants will enjoy easy access to digital financial products and services that will allow them to grow their businesses. For governments, the new financial offerings available in the market will contribute to reducing cash-based transactions, enabling more people and businesses to participate in economic development and boosting GDP growth. Finally, consumers will have more choice of financial products and services that meet their needs.

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Women Choice, an international organization dedicated to advancing women’s personal and professional development, launched the pilot cohort in 2023. The next cohorts will participate in the new programs this year and aim to impact 50,000 women.

Mastercard has been at the forefront of providing women with access to digital tools, training to help them start and grow their businesses, mentorship and networking platforms, and collaborations with employers to create more jobs for women.

The collaboration with Women Choice is a step further in reinforcing their joint commitment to empowering female-led businesses with resources and growth opportunities. The goal is to provide 1 million employment opportunities for women by 2030.

These programs will offer comprehensive support via training and mentorship for women entrepreneurs and help them create employment opportunities for other women in their chosen fields.

“At Mastercard, we are committed to creating a more inclusive and equitable world where everyone has the opportunity to thrive. Our expanded partnership with Women Choice will not only have a significant impact on women in the workplace across the region but also provide women entrepreneurs with the right skills, resources and tools to succeed and drive economic growth in the region,” said Amnah Ajmal, Executive Vice President, Market Development, EEMEA, Mastercard.

“We are proud to see the successful results of the program launched in 2023 in collaboration with Mastercard and are excited to see the partnership continuing to grow through 2024. We are now focusing on scaling the impact. Bringing change and improving the situation of women in the workplace and providing support to women-led businesses is a key element to help economies in the Middle East and Africa region grow and further thrive,” said Nezha Alaoui, Founder & CEO of Women Choice.

Globally, 15,000 women are already part of the Women Choice network and have participated in 100+ accelerator programs and conferences organized in recent years.

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The partnership will see Loop expand its portfolio, enhance its suite of products and services through leveraging Mastercard technology and expertise. Having signed an exclusive issuing agreement, Loop and Mastercard will partner to issue BIN ranges, enabling consumers, merchants and fintech’s across the Kingdom to benefit from innovative payment solutions.

“We believe financial inclusion is vital to powering social and economic reform in Saudi Arabia. Our goal is to play a leading role in effecting this positive change by pioneering financial solutions that empower our customers to accomplish their goals. Partnering with Mastercard and leveraging the company’s technology will enable us to do that and more, contributing to the Kingdom’s prosperity,” said, Ali AlObaid CEO, Loop.

“Today, technology and innovation are the bedrocks of sustained success; particularly with businesses and financial institutions around the world being confronted with new and unprecedented challenges. We work to empower our clients and partners with the tools to meet their targets and accomplish their goals. We aim to enable Loop to do just that, catering to the needs of Saudi businesses and consumers with an innovative range of payment solutions,” said Adam Jones, Country General Manager, MENA Central, Mastercard.

Fully aligned with the goals of Vision 2030, the partnership will drive greater fintech enablement across the country, transforming the Saudi digital economy.

The agreement also underlines both entities’ commitment to bolstering the Saudi fintech ecosystem. Together, they will introduce a selection of novel propositions to the Kingdom’s growing community of SMEs and fintech’s, enabling them to meet the demands of a rapidly evolving global economy.

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