Visa commits $1 million to empower women-focused businesses in association with United Way Mumbai
Visa (NYSE: V), the global leader in digital payments, has pledged US$1 million to United Way Mumbai (UWM), to empower women-owned and women-focused businesses over the next three years. The project will be implemented in a total of 170 villages/towns across four states – Uttar Pradesh, Assam, Maharashtra, and Karnataka and will focus on creating sustainable, long-term skills for entrepreneurship among participants. The project aims to train over 8500 women and connect them with financial services relevant to their enterprises and communities.
Announcing the commitment, Sandeep Ghosh, Group Country Manager India & South Asia, Visa, said, “At Visa, we have strongly advocated and supported the growth of small businesses particularly those focused on women. Our partnership with United Way Mumbai will impart financial and entrepreneurial skills to women from communities that do not enjoy the same access and privileges as many others. As women get empowered, so do the communities they represent. We look forward to this partnership making meaningful contributions to deserving communities in times to come.”
The Visa - UWM project will target three core impact areas: Access to knowledge and services for financial inclusion, Entrepreneurship development and formation of sustainable Self-Help Groups
Commenting on the partnership, George Aikara, CEO, United Way Mumbai, said “We at United Way Mumbai, strongly believe that India’s growth story is incomplete without the equal participation of women. Our efforts aim to address the barriers that exist to women’s participation in the social and economic spheres. We are elated to work with Visa as they share our commitment to democratizing the financial ecosystem by bringing women into it and we look forward to the support of this partnership in bringing that to fruition.”
With its iFundWomen grants programme, Visa has empowered women-owned businesses in India previously as well. Recent initiatives include upskilling women micro-entrepreneurs across the country after the pandemic and committing to help 50 million small and medium-sized businesses globally to get online and future-proof their businesses. As part of Visa's goal to enable businesses to thrive, the company partnered with Hand in Hand International to provide US$2.4 million over three years to 75% of women-owned businesses. Additionally, Visa launched its women-owned small business initiative in 2019 called ‘She's Next’ to empower women entrepreneurs.
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions, and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable, and secure payments network, enabling individuals, businesses, and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.
About United Way Mumbai
United Way Mumbai (UWM) is a non profit organization working in urban and rural communities across the country to identify and implement the most impactful solutions to community problems. As a leader in the Indian development sector, UWM works closely with a network of 600+ non-profits and a large number of corporates for their CSR programmes, workplace giving campaigns and other events. This includes designing of CSR policy and strategies, due diligence of non-profit partners, programme implementation, employee volunteering, impact assessments and financial and programmatic reporting. Over 20 years, UWM has partnered with 300+ companies and 100,000+ individual donors investing INR 843 Crore in over 1200 community development projects impacting over 129 lakh lives. UWM’s expertise lies in identifying, designing & implementing high impact projects in the areas of Education, Health, Income, Environment and Public Safety.