Visa Launches Second Edition of She's Next Initiative to Empower Women-Owned Businesses in KSA

(MENAFN) Visa, in collaboration with the Ministry of Communications and Information Technology, the Small and Medium Enterprises General Authority (Monsha'at), and Arab National Bank, has announced the launch of the second edition of its She's Next initiative in Saudi Arabia. This global advocacy program aims to support women-owned small businesses by promoting their digitalization and fostering their growth in the digital economy. As part of this initiative, Visa has also introduced its first digitalization index specifically designed for women-owned small and medium-sized businesses.

The digitalization index utilizes five key indicators, namely online presence, digital payments acceptance, payment security awareness, customer engagement, and customer retention. These indicators are used to assess the digital maturity of women-owned businesses and provide valuable insights to enhance their digital capabilities. By measuring and benchmarking their progress in these areas, women entrepreneurs can gain a better understanding of their digital strengths and areas for improvement.

Ali Bailoun, Visa's regional general manager for KSA, Bahrain, and Oman, expressed pride in bringing the successful She's Next program back to Saudi Arabia for its second edition. He also extended gratitude to the program's partners for their support in making this initiative possible for women-owned businesses in the Kingdom. The collaboration between Visa, the Ministry of Communications and Information Technology, Monsha'at, and Arab National Bank underscores the collective commitment to empowering women entrepreneurs and driving their success in the digital era.

Since its inception in 2020, the She's Next initiative has made significant investments to support women-owned businesses globally. Visa has allocated approximately $3 million in grants and coaching to over 250 women entrepreneurs across various countries, including the United States, Canada, India, Ireland, Ukraine, Kazakhstan, Saudi Arabia, the United Arab Emirates, Egypt, and Morocco. By providing financial support and expert guidance, Visa aims to equip women entrepreneurs with the necessary resources and knowledge to thrive in the digital landscape.

The second edition of She's Next in Saudi Arabia reaffirms Visa's dedication to fostering gender equality and promoting women's economic empowerment. Through this initiative, Visa and its partners aspire to create an inclusive environment that encourages the digital transformation of women-owned businesses, enabling them to unlock their full potential and contribute to the Kingdom's economic growth and development.



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