Investing in women-led business across APEC economies: One year later

Visa believes that small businesses are anything but small. They are the heartbeat of the global economy and of the local communities they serve, representing about 90% of businesses and more than 50% of employment worldwide. But only one in three businesses are owned by a woman. This reality presents us with an opportunity to support women entrepreneurs and their potential to unlock $2.5 to $5 trillion into the global economy and become key contributors to poverty reduction.

As leaders from member economies around the world gather this week in Peru for the annual Asia Pacific Economic Cooperation (APEC) forum, a key focus will be on discussing how expanding the digitization of commerce can help advance economic priorities. Visa believes that women-led small and micro businesses (SMBs) play a pivotal role in doing just that. Visa is proud to share how Visa Foundation has progressed against its $100 million commitment to women-led businesses in APEC economies one year later.

Visa Foundation's 2023 pledge

Last year at the APEC forum in San Francisco, Visa Foundation pledged $100 million to support underserved and women-led SMBs in APEC economies over five years. The pledge is expected to help accelerate access for underserved and women-led SMBs in APEC economies to advance digital financial inclusion, stimulate job creation, and increase access to capital to drive economic mobility.

Visa Foundation has prioritized our support of women-owned and led businesses through grants and impact investments. By building an environment that advances women and women-led SMBs, Visa and Visa Foundation are doing more than investing in inclusive economies; we are investing in a legacy of empowerment for everyone, everywhere.

Progressing against our pledge

One year later, Visa Foundation has committed over $20 million in support of women-led SMBs across APEC economies and is collaborating with and complementing the work of local partners to drive access for underserved communities.

In Latin America, Visa Foundation has continued its partnership with Root Capital with a $3 million investment to provide financing to women-led SMBs in the agriculture sector. This new commitment to Root Capital comes on the heels of a long track record of success from previous grants and investments that helped Root Capital provide affordable financing to 550,000 smallholder farmers across the region to grow their businesses, hire more women as employees, and address food insecurity in the region.