Mastercard invests in Kasha a female focused e-commerce platform
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Mastercard has expanded its relationship with Kasha through an investment in the e-commerce platform. The companies will continue their shared efforts to ensure women across emerging markets have access to health and personal care products.
Kasha’s platform allows women across rural and urban locations to make confidential personal care orders online and offline. By utilizing the product catalogue available online or by placing orders using basic mobile handsets, women can order and pay for hygiene products. These products are then discretely delivered to them by local micro-entrepreneurs. This chain of supply helps to grow the micro economy.
Mastercard’s investment is the next step on a journey the organizations have been on since Kasha joined Mastercard StartPath in 2019. Since joining the award-winning start-up engagement program, Mastercard has worked with Kasha to integrate digital payment acceptance across its e-commerce platform, and most recently the partners joined forces to deliver virus, hygiene, and protection products to families across Kenya in efforts to help prevent the spread of COVID-19.
“Kasha’s goal is to ensure women in emerging markets get the products, information, and services they need for their health, self-care, and well-being,” said Joanna Bichsel, Kasha’s Founder and CEO “I am thrilled that we are continuing our collaboration with Mastercard and that we not only have a committed investor with shared values, but also an innovative partner as we continue to take Kasha’s development and growth to the next level.”
R. Fresson
In the fight against Covid-19, women have been on the front lines of the outbreak – making up a majority of the healthcare workers and bearing much of the responsibility for caregiving with children out of school and relatives falling ill. They have also been disproportionately impacted by the economic consequences of the pandemic – a disadvantage that’s exacerbated by the challenges women face when it comes to accessing financial services: globally, only a third of women have bank accounts and less than a quarter of loans are made to female business owners.
“Inequality and exclusion are two of the biggest barriers to women’s prosperity and this isn’t just a developed or developing world problem alone,” says Shamina Singh, founder and president at the Mastercard Center for Inclusive Growth. “One and a half billion people are excluded from the global economy. And things like basic forms of identification that are needed in the formal economy are still out
Mastercard, Unilever and KCB Bank strengthen partnership to support micro-retailers in Kenya
Micro-retailers to receive $150,000 worth of financial support, free health products and training, to ease the economic impact of the pandemic.
Kenya, 18 January 2021: Mastercard, Unilever and KCB Bank have built on their partnership to support micro-merchants in Kenya by expanding their current Jaza Duka program to provide an extensive COVID-19 relief package to retailers.
Micro, small and medium enterprises are the backbone of the Kenyan economy, yet they have been amongst the hardest hit by the pandemic. According to a survey by the Central Bank of Kenya, 75 percent of Kenya’s small and medium-sized businesses faced collapse without urgent intervention by key stakeholders. As countries around the world forge towards economic recovery, enabling small businesses to recover quickly has been earmarked as a key driver for economic restoration and growth.