The World Economic Forum’s (WEF) Global Gender Gap Report last year delivered a sobering revelation: at the current pace, it will take 169 years to achieve economic gender parity. This stark reality has galvanized government entities, NGOs, and corporations worldwide to redouble their efforts, leveraging the power of partnerships to expedite progress.
One such transformative alliance is between Mastercard and the international organization Women Choice, spearheaded by Morocco-born social entrepreneur Nezha Alaoui.
Their initiative, the Social Innovation Incubator for Women’s Employment, is a beacon of hope and a testament to the impact of strategic collaboration.
“Championing women is something I’ve always been very passionate about, and I’m in love with the idea of uplifting women who are driving progress in new, exciting ways,” said Amnah Ajmal, Executive Vice President of Market Development for Eastern Europe, Middle East, and Africa (EEMEA) at Mastercard. “Some people you meet leave an indelible mark on your life with their passion, dedication, and willingness to build solutions that have a real impact on people’s lives. For me, one such person is Nezha, who has made significant strides in advancing women’s personal and professional development.”
Ambitious Goals for Women’s Employment
Mastercard and Women Choice have set an ambitious target: creating one million jobs for women across the Middle East and Africa (MEA) region by 2030. Additionally, they plan to equip 1,000 emerging female social entrepreneurs with the necessary training and resources to launch their own businesses.
The partnership’s initiatives, such as the ‘ImpactHER’ and ‘EmpowerHER’ programs, aim to provide training and mentorship to 50,000 women, potentially reshaping the SME landscape in the region.
“I was incredibly proud of the graduating cohort of our ImpactHER program last year,” said Nezha Alaoui, Founder and CEO of Women Choice. “Each of our alumni is a catalyst for social change, who will impact another thousand women. Together with Mastercard, we are revolutionizing the world, one extraordinary woman at a time.”
Addressing the Challenges of Working Mothers
Research has highlighted the heightened levels of anxiety and depression among working mothers, underscoring the urgent need for workplace policies that prioritize well-being and work-life balance.
Responding to these findings, companies and governments in the region are reevaluating their support structures for working mothers.
The UAE, for instance, has proposed a hybrid work setup for mothers with young children, while Saudi Arabia has rolled out initiatives to expand childcare services and remote work options.
“Bringing change and improving the situation of women in the workplace plays a crucial role in helping MEA economies grow and thrive,” Alaoui emphasized. “Supporting working mothers is not just a matter of fairness but a strategic imperative.” Ajmal added: “A woman should not have to choose between being a mother and having a career; we should have an environment where it is encouraged to do and be both.
Through collaborative efforts and unwavering dedication, we can build a future where every woman has the opportunity to reach her full potential regardless of societal expectations or constraints.”
A Vision for the Future
Over the next six years, Mastercard and Women Choice will continue to drive their shared mission of unlocking the untapped potential of women as catalysts for economic growth and social progress.
With initiatives like theirs gaining momentum, the daunting 169-year timeline to achieve economic gender parity may soon become a thing of the past.
The collaboration will also provide 1,000 budding female social entrepreneurs with the training and resources to start their own businesses
