ShopUp, a Bangladeshi e-commerce platform, has teamed up with Mastercard’s Centre for Inclusive Growth to introduce the Porshi initiative. The program’s goal is to give women-owned small companies in Bangladesh the digital tools and know-how they need to prosper in the contemporary market.
Porshi, which has the backing of the Gates Foundation, will concentrate on boosting the access of 1,600 female small business owners to a greater variety of fast-moving consumer items and upskilling them. It is anticipated that 40% of these business owners will frequently use ShopUp’s app, especially for last-mile delivery services, which will help to increase market reach and streamline operations.
Subhashini Chandran, Senior Vice President of Social Impact at Mastercard’s Center for Inclusive Growth, emphasised the importance of small businesses in community development. “Small companies are essential to creating communities that are resilient and robust, she said adding, “This initiative will enable women entrepreneurs to become more resilient, competitive, and successful in today’s digital economy, while also increasing their revenue streams.”
In Bangladesh, micro, small, and medium enterprises (MSMEs) are central to economic growth, contributing approximately 25 per cent to the country’s GDP and employing 87 per cent of the workforce. Despite their significance, these enterprises face substantial challenges, including a US $ 2.8 billion financing gap, high levels of informality, and limited job security. While only 7.2 per cent of registered MSMEs are led by women, primarily micro-enterprises, many women operate informal businesses that significantly contribute to the economy by providing goods, services, and employment, especially for other women.
Bangladesh’s Mastercard country manager, Syed Mohammad Kamal, emphasised the potential of boosting female entrepreneurs. “Mastercard acknowledges that empowering women-led small businesses in Bangladesh has enormous economic potential and multiplier effects,” he stated.
The Gates Foundation’s Amy Pennington underscored the importance of digital inclusion. “Achieving equitable economic growth requires closing the gender gap in digital inclusion and market access, entire communities benefit when women can participate fully,” she said.
Mamun Rashid, President of ShopUp, described Porshi as more than just a program, calling it a movement that is transforming how rural women engage in commerce.
The launch event was attended by entrepreneurs from across Bangladesh’s SMEs and MSMEs, along with senior representatives from Mastercard, ShopUp, and the Gates Foundation, signaling a collective commitment to fostering women’s economic participation and growth.
