E-Financial
Importance of Financing Women-Owned MSMEs in Global Supply Chain
By Omokehinde Adebanjo
There is significant evidence that women are the glue that hold their families, communities and even local economies together all over the world.
What I find enlightening is that this impact is particularly keenly felt in emerging economies such as those in Africa, where women are drivers of growth and widespread financial inclusion – which has been a key message coming out at the Women’s World Banking Making Finance Work for Women conference here in Dar Es Salaam.
In fact, we have done research into this trend through our Mastercard Index of Women’s Entrepreneurship (MIWE) and found that female entrepreneurs in developing countries are driven by resilience, determination and the desire to provide for their families.
Although the research was focused on only select markets initially, we learnt that women in these markets typically tap into local business opportunities that are not dependent on knowledge or innovation alone, effectively allowing them to avoid substantial financial, regulatory or technical constraints.
According to the index East Africa, specifically, shines in this area: the Index showed that Uganda has the highest percentage of female business owners in any of the 54 countries surveyed worldwide, with 34.8 percent of businesses in the country owned by women.
What’s more, Uganda’s women boast a 100 percent entrepreneurial activity rate, 93.9 percent labour participation rate and 90.5 percent borrowing or saving rate for the purposes of opening a business.
Uganda’s neighbour, Tanzania – where many of us are currently gathered for the Making Finance Work for Women Summit – is also making notable strides in this area, with dedicated programmes like the UN Joint Programme on Youth Employment helping many of the country’s young women entrepreneurs hone their own skills and capabilities as well as generate employment opportunities for other young people.
Likewise, the Kenyan Government has made provision for 33 percent of Government jobs and procurement opportunities to be accessed by women.
If we look at Nigeria, we also notice a high percentage of female entrepreneurship, with as many as 41 percent of the country’s women acting as entrepreneurs.
This is notably higher than many developed countries like the USA where only 10 percent of women are entrepreneurs and France where a tiny three percent of women are entrepreneurs.
These examples serve to illustrate the sheer value of women entrepreneurs, and why it is critical to finance women-owned businesses and micro, small or medium-sized enterprises (MSMEs) in supply chains – and in Africa, in particular – in order to truly be able to generate the economic growth that is necessary at local, national and global levels.
Collective Action Required To Support Women Entrepreneurs
Only through collective action can we hope to help bring vital cogs of development into formalised business processes as well as strengthen the overall ecosystem of vibrant and resilient women entrepreneurs.
This has been a key focus area for us at Mastercard for many years now, not only at a global level but across the African continent, which we recognise as a breeding ground for smart and innovative female entrepreneurs.
In this vein, we have partnered and collaborated with organisations from across the spectrum of the public and private sectors to broadly empower the continent’s women and provide them with the knowledge and tools necessary to start and sustainably grow their own businesses.
That included joining forces with African Women and Beyond (AWAB) in Kenya to launch the Africa Women Leadership Network (AWLN) last year to bring together like-minded women from various business sectors to tackle challenges facing women in East Africa, and more broadly across the continent.
In Nigeria, which is also a key growth market, we are starting to focus more on women empowerment. This includes our partnership with Mercy Corps to provide 2,500 girls with access to financial tools and entrepreneurship training.
Last year, together with UN Women, we signed a Memorandum of Understanding to bring more women into the formal financial fold and empower them through financial literacy training.
More than just enabling the country’s women to participate in formal financial activities through identity documents, we additionally partnered with the Youth for Technology Foundation to provide women entrepreneurs with the support and training they require to start and continue running their businesses.
Through the experience gained in the course of much of this work, we have noticed and learnt the importance of digitising operations and processes as a way of supporting women entrepreneurs. Practical examples of where we have introduced digital solutions that have considerably assisted women business owners of Micro, Small and Medium enterprises include Masterpass QR and 2KUZE.
Masterpass QR is our person-to-merchant, mobile-driven payment ecosystem that is in the process of being rolled out in 33 markets across Africa.
It addresses challenges with the acceptance of electronic payments for MSMEs without the need for expensive point-of-sale (POS) infrastructure. These women merchants can effectively accept fast and secure payments for their goods through their smart or feature phones.
The 2KUZE solution was introduced specifically to streamline the value chain for farmers in Kenya and Tanzania, where agriculture is the economic backbone.
It connects farmers, buyers and agents through both feature and smartphones and facilitates the entire transaction, removing the need for the country’s farmers to walk long distances to sell their produce at markets. As women play a critical role in the agricultural sector in these countries, it is a solution that has assisted them in running their businesses more efficiently.
Ultimately, what we can see is that when women are empowered through entrepreneurship and technology, they are able to make significant contributions to their economies. This makes it critical for us across industries and both the public and private sectors to band together and continue providing the financial and non-financial support these inspirational women require.
First Asset Management investment management rating just got an upgrade to ‘AA’ from ‘AA-’ by DataPro and affirmation of A+(IM) by Agusto & Co. This reflects how we are continuously improving to serve our investors better. Our funds levelled up too as Agusto & Co upgraded our First Asset Money Market Fund rating to A+ (f) (up from Aa‑(f)).
What its means for customers
It means you are investing with a firm that is getting stronger, smarter, and more disciplined. Our upgraded rating recognizes our solid performance track record, the strength of our parent financial group, and the systems we have put in place to manage investments responsibly.
We have also improved our governance and decision-making structure, with experienced professionals leading well-defined investment and risk committees. Behind the scenes, our team of seasoned investment experts constantly monitor markets, manage risks, and position portfolios to navigate volatility and capture opportunities.
At the same time, we have strengthened our risk management and compliance framework to ensure that everything we do meets global best practices. In simple terms, it means your money is being managed with discipline, transparency, and strong oversight.
Independent rating agencies — Agusto & Co and DataPro Limited recognize these improvements. Their ratings highlight our commitment to responsible asset management, strong governance, and operational systems designed to support stable long-term performance.
But beyond the ratings, what really matters is helping you build wealth over time.
That is why we offer a range of investment plans designed for different goals — whether you are just starting your investment journey, looking to grow your portfolio, or aiming to build long-term financial security.
If you are part of the next generation of investors, this is your moment to start early and stay ahead. The earlier you begin investing, the more time your money has to grow.
Jump on the First Asset investment journey. Explore our investment plans and start building your future with a firm that is getting stronger.
By Matthew Anthony, Senior Market Analyst- Africa
Oil prices spiked to just above $120 over the weekend as escalations of the Israel -US-Iran war intensified, with key energy installations targeted.
FXTM
As a result, major oil suppliers are due to meet shortly to open the tap of their strategic reserves. Another contributor to the hike in oil prices has been the effectual closure of the strait of Hormuz (where 20% of the world’s oil supply goes through).
Major oil producing nations like Nigeria may profit from this conflict provided they are able to put a lid on inflation- a major consequence from rising oil prices-and use the windfall for critical budget needs while preparing for potential market shocks.
Outside of Nigeria, a wave of risk aversion engulfed global markets on Monday as ongoing conflict in the Middle East accelerated the flight to safety.
Asian shares plunged, European markets opened deep in the red while US equity futures signaled to a negative open as investors scrambled to price the chaos from the Iran conflict.
In the commodity space, oil prices jumped over 25% as major Middle East producers curbed output. Brent has gained roughly 30% this month, pushing 2026 gains to over 70% while WTI crude is up almost 80% year-to-date as of writing.
The last time oil benchmarks crossed into triple digits was back in 2022 during the Russian-Ukraine war. And for most it’s still a painful memory as geopolitical risk and covid-19 supply disruptions caused inflation to skyrocket across the globe.
In the FX space, the dollar remains supported by safe-haven demand along with the Swiss franc. However, the star performer is the Canadian Dollar which has appreciated against every single G10 currency month-to-date thanks to its sensitivity to oil markets.
Gold ended last week in losses despite the risk-off sentiment and overwhelming disappointing NFP report. Non-farm payrolls slid by 92,000, representing the biggest monthly decline in payrolls since October 2025, while the unemployment rate rose to 4.4%.
However, gold remains locked within a daily range thanks to a broadly stronger dollar and inflationary risks revolving around the conflict in the Middle East. Surging energy prices have sparked inflationary fears, forcing markets to reassess the possibility of lower interest rates.
Traders are pricing a 50% chance that the Fed cuts rates twice in 2026. The February CPI and January PCE index, which is the Fed’s preferred inflation gauge – may offer crucial insight into the path of price pressures.
Should the incoming inflation data further shave Fed cut bets, the dollar could strengthen – enforcing fresh pain on precious metals. Looking at the charts, a weekly close below $5000 may signal a steeper decline. Bulls could still fight back if $5000 proves reliable support.
Polaris Bank has joined the global community in celebrating International Women’s Day 2026, reaffirming its commitment to promoting gender equality, empowering women, and supporting initiatives that foster inclusive growth across society.
Polaris Bank
International Women’s Day, celebrated annually on March 8, provides an opportunity to recognize the achievements of women across all sectors while highlighting the need to accelerate action towards gender equality. At Polaris Bank, the day serves as a reminder of the vital role women play in driving economic growth, innovation, and community development.
Speaking in commemoration of the day, the Managing Director/CEO of Polaris Bank, Kayode Lawal, emphasized the Bank’s commitment to creating an enabling environment where women can thrive professionally and financially.
“Polaris Bank remains dedicated to fostering a culture of inclusion, opportunity, and empowerment for women. From supporting female entrepreneurs to ensuring equal opportunities within our workforce, we believe empowering women is not only the right thing to do but also a key driver of sustainable development,” the CEO stated.
Over the years, Polaris Bank has implemented several initiatives aimed at supporting women-led businesses, promoting financial inclusion, and strengthening leadership opportunities for women within the organization. These efforts align with the Bank’s broader commitment to sustainable development and inclusive economic growth.
As part of this year’s celebration, the Bank will spotlight inspiring stories of hope from women across the community, within its workforce and customer base, while encouraging meaningful conversations around leadership, financial empowerment, and gender equity.
Polaris Bank continues to champion initiatives that create opportunities for women to succeed, recognizing that empowering women ultimately leads to stronger families, thriving communities, and a more resilient economy.
Africa Startups Raised $272m in Funding in February
First Asset Management Secures Ratings Upgrade
NICA Confers Professional Fellowship on Uche Uzoebo
Starlink Rolls Out V2 Satellites for Direct 5G Connectivity to Smartphones, Eyes Nigeria’s Rural Gaps
Madonna University Taps Tech Guru Adote for Strategic Board Role
Dr. Cairo Ojougboh Foundation Bolsters Nigeria’s Education Drive with ₦2.7m Student Support
Kaspersky Brings more Transparency to Threat Detection with New Hunt Hub
Kaspersky Discovers New Phishing Campaign Exploiting Google Tasks Notifications to Steal Corporate Credentials
esentry 2025 Report Shows Healthcare, Financial Services and Telecoms as Staging Grounds for Increased Cyberattacks in Africa
AfDB, UNDP Launch $10Bn AI Initiative for Africa
Telecom1 day agoFirst Batch of Nigerian Undergraduates Emerged in Airtel Africa Foundation Scholarships Programme
Telecom1 day agoDimension Data Nigeria Seals N20bn Bond Deal to Bridge Digital Infrastructure Gap
E-Business1 day agoCBN Affirms Alpha Morgan Bank’s Capitalisation
E-Financial1 day agoPolaris Bank Marks IWD2026 with Renewed Pledge to Women’s Empowerment
General News1 day agoMojisola Sayo-Kazeem Reflects on Leadership, Opportunity, Women in Tech @ IWD
General News1 day agoExperts Weigh Blockchain Option for Nigeria’s Elections Process
News1 day agoEFCC Seals Anti-Corruption Alliance with Anambra Security Chiefs, Traditional Rulers
General News8 hours agoZedvance Hits ₦96bn Lending Milestone, Eyes ₦250bn Target in 2026