Women Entrepreneurship Day: JazzCash aims to empower 300K women-led businesses, freelancers by 2027

KARACHI: Pakistan’s leading fintech, JazzCash, aims to empower over 300,000 women-led businesses and women freelancers by the end of 2027 as a part of the company’s commitment to recognizing and supporting the significant role women play in driving economic productivity and innovation.

JazzCash serves over 44 million customers and over the past three years, it has doubled its female customer base to 30 percent and aspires to reach 50 percent in the coming years, promoting economic balance. It also facilitates 118,000 daily digital loans, with 25 percent benefiting women.

“Currently, more than 100,000 women freelancers and women-led businesses rely on JazzCash for their financial services needs, and we aim to increase this number to 300,000 in the next three years,” said Murtaza Ali, President of JazzCash.

He highlighted the transformative impact of JazzCash’s hassle-free loans, emphasizing how these services empower women to overcome economic challenges, mitigate social risks, and strengthen their small and medium-sized businesses.

He further stated that JazzCash is dedicated to helping women build economic resilience by promoting higher savings and increased participation in financial activities. “Our initiatives focus on empowering women to confidently utilize financial services, with tailored programmes designed to encourage active account usage,” he added.

Murtaza underscored the organization’s core purpose, stating that the drive to improve the lives and livelihoods of women through technology is at the heart of everything Jazz, JazzCash, and Mobilink Microfinance Bank do. “We are also committed to nurturing a thriving ecosystem for women in business through JazzCash.”

Acknowledging the pivotal role of women in economic development, JazzCash has introduced initiatives that go beyond financial services. These include partnerships with women-led enterprises, integrating women micro-entrepreneurs into its merchant network, offering mentorship programmes, and providing essential resources to help them succeed in a traditionally male-dominated business landscape, he mentioned.

Recently JazzCash has joined also hands with the country’s leading social protection initiative-the Benazir Income Support Programme (BISP), in the vital mission of alleviating poverty, and raising living standards for women. The fintech platform will channel cash payments amounted to Rs78 billion to 1.3 million BISP-registered women beneficiaries across Pakistan by the end of next year. So far, JazzCash has successfully transferred Rs15 billion to beneficiaries in the Hyderabad, Matiari, and Rahim Yar Khan regions.

Murtaza concluded that JazzCash is also working to enhance financial literacy among women and conducting educational workshops and outreach programmes aimed at improving women’s understanding of financial management and investment.

Copyright Business Recorder, 2024