Mastercard program seeks 500,000 corporations in Brazil’s favelas to assist digitization

Strive Community announced that it will support the digitization of 500,000 micro-enterprises in favelas across Brazil, through an initiative that will combine training, gamification and mentoring to promote the adoption of digital tools and facilitate access to credit.

“Micro-enterprises are a fundamental pillar of favela communities, providing jobs that serve as an essential source of income for millions of people,” he said. Luz Gomez, Regional Vice President, Mastercard Center for Inclusive Growth. “By providing entrepreneurs with the right digital tools, we want to enhance their ability to drive inclusive growth where it is needed most.”

The program will be carried out by three highly qualified and experienced organizations in Brazil. The work is supported by the Strive Community, a global philanthropic initiative by the Mastercard Center for Inclusive Growth that seeks to strengthen the resilience of 5 million small businesses and support their growth.

Celso Athayde, founder of CUFA, said “That the Brazilian is an entrepreneur by nature that most people already know. We are going to use our experience in these territories to prepare favela entrepreneurs for training and digital inclusion”.

The companies and the partnership with Mastercard

Aliança Empreendedora will bring its vast experience in supporting the digitization of vulnerable micro-enterprises. Central Única das Favelas (CUFA) will leverage its unparalleled access and trust from favela populations and activate its network of private and institutional partners to maximize the program’s reach and impact. Flourish FI will apply its tried-and-true technology, which uses behavioral science to inform techniques to encourage people to build positive financial habits and achieve financial security.

Source: Startup