Visa has partnered with Commercial International Bank (CIB) to introduce the She’s Next program in Egypt, aimed at empowering women-led businesses in the country. The initiative is designed to offer support to small businesses owned by Egyptian women through funding, personalized coaching, and mentorship.
Female entrepreneurs can apply for the program until October 26. The top three winners will each receive $10,000, and the top five will benefit from a one-year training program. The first 20 applicants will receive a one-year skills improvement program from the United States Agency for International Development (USAID).
Visa’s program aims to address the challenges faced by Egyptian women entrepreneurs, including unequal funding distribution, limited access to capital, weak digital infrastructure, and a lack of mentorship. The She’s Next initiative aligns with CIB’s strategy focused on supporting small and medium-sized enterprises and promoting female-led companies.
The move by Visa comes in the wake of its commitment to invest $1 billion in Africa between 2023 and 2027, with a focus on empowering small and women-led entrepreneurship across the continent, including in Egypt. This initiative also reflects the broader efforts in Egypt to break down barriers faced by female entrepreneurs, with various programs and funds being introduced to support women’s economic and social empowerment.
Visa’s She’s Next program seeks to facilitate the digitalization shift, harness the potential of women entrepreneurs, and help them thrive with support and innovation, according to Malak El-Baba, Visa’s country manager for Egypt.
