ISLAMABAD: JazzCash, the fintech arm of Jazz, has made a concerted effort to prioritise gender-intentional financial inclusion. This proactive approach has led to a significant increase in the representation of women within JazzCash’s customer base.
As a result, around 29 percent of JazzCash customers are now women, a significant increase from just 17 per cent a couple of years ago. Moreover, women have also benefited from a considerable disbursement of Rs11 billion through 6.4 million loans over the past few years.
Aamir Ibrahim, CEO of Jazz, shared these insights while talking to Business Recorder.
He emphasized the transformative potential of hassle-free loans provided by JazzCash. He noted that these services empower women by enabling them to navigate economic challenges, reduce social risks, and support their small and medium businesses.
“Additionally, women experience improved economic resilience through higher savings contributions and increased engagement in various financial activities. We also encourage increased account activity, which leads to greater familiarity and confidence in using financial services. Moreover, we have programs in place to encourage rural women to independently manage their accounts through mobile platforms.”
Aamir underscored the organisation’s core purpose, stating that the drive to improve the lives and livelihoods of women through technology is at the heart of everything they do at Jazz, JazzCash, and Mobilink Microfinance Bank.
Furthermore, JazzCash has played a pivotal role in supporting women entrepreneurs and recognising the instrumental contributions of women in the freelance economy. The platform is relied upon by more than 100,000 women freelancers and women merchants for their financial services needs, highlighting the significant role women play in driving economic productivity and innovation.
The platform aims to achieve a 50 per cent representation of women in its customer base in the coming years to foster a more inclusive and balanced economic landscape.
Acknowledging the multifaceted role women play in economic development, JazzCash has implemented a range of initiatives that extend beyond financial services.
The platform actively collaborates with women-led enterprises, bringing women micro enterprises into merchant network, offering mentorship programs and providing resources to help them thrive in a predominantly male-centric business world.
These efforts further demonstrate JazzCash’s commitment to nurturing a thriving ecosystem for women in business.
JazzCash is also working to enhance financial literacy among women. The platform conducts educational workshops and outreach programs aimed at enhancing women’s understanding of financial management and investment.
These educational endeavours are fundamental to empowering women with the knowledge and skills necessary to make informed financial decisions, ensuring their long-term financial stability. Aamir concluded with a resounding commitment to this cause.
Copyright Business Recorder, 2023
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