For the second year running, Visa, in partnership with Absa, is rolling out its global advocacy programme, She’s Next, across South Africa – and entries are now open.
According to the 2022 GEM SA survey, although women’s involvement in entrepreneurship showed a healthy increase from 9,5% to 13,5% in 2023, men’s involvement showed a greater increase, from 11,1% to 19,9%. About 21,5% of women have had to close their businesses in South Africa due to a lack of finance. In addition, women often face prejudice in the working world compared to men, securing fewer opportunities to grow their businesses to success.
To remove some of these obstacles and meet the needs of women entrepreneurs, the She’s Next initiative is dedicated to fostering an inclusive and equitable environment for women-led businesses through access to grant funding, tailored training, mentorship, and networking opportunities.
In South Africa, recent reports reveal just how much support women entrepreneurs need in the country and, while just over half of businesses are run by men, women frequently have smaller businesses and struggle with receiving the same opportunities as men to scale.
“Visa is committed to helping women develop and excel in business. Through She’s Next, we aim to encourage and enable even more participation of women in driving the economy, in line with our goal to digitally enable as many small businesses around the world as possible, while also creating a supportive environment in which they can grow and thrive,” says Lineshree Moodley, country head at Visa South Africa.
Eligible, women entrepreneurs from all industries and sectors in South Africa, are encouraged to apply for a chance to win a share of over R1-million worth of grant funding. In addition to the monetary prizes, the programme includes training and capacity building sessions curated by Visa and Absa.
The She’s Next programme has seen remarkable success in other regions. In South Africa, the 2024 competition recognised innovative women-led businesses across various sectors, awarding significant grants and mentorship opportunities. The overall winner, Mahlatse Mamaila of InoBiodiesel, received a R400 000 grant to advance her green energy solutions.
“We’re proud to partner with Visa for the second year of the She’s Next programme, which is dedicated to unlocking the potential of women entrepreneurs in South Africa. These business owners are key to driving inclusive economic growth and job creation. By addressing the persistent barriers they face and providing the right tools, funding, and support, we are helping to build stronger, more resilient businesses. Empowering women isn’t just good for society, it’s vital for South Africa’s economic future,” says Dr Steven Zwane, managing executive: group corporate citizenship at Absa.
Visa has digitally empowered over 16-million small and micro businesses (SMBs) globally, surpassing its 2020 goal to digitise 50-million SMBs. In sub-Saharan Africa, the Visa Foundation has committed $1-million to support SMB-focused organisations through grants and impact investments. These initiatives prioritise training, support services, and access to capital — with a strong focus on gender inclusivity and diversity. The She’s Next programme will build on this momentum, expanding both reach and impact.
“She’s Next continues to champion growth and resilience of female entrepreneurs, empowering them to scale their businesses and drive economic impact and we’re excited to see which businesses excel in the competition this year,” Moodley concludes.
To learn more and apply for She’s Next, applicants must submit a short application form via https://www.visa.co.za/run-your-business/she-is-next.html with details about their business. Applications are open until 30 July.