ITC, Visa join forces with QFTH

In a bid to support youth and women entrepreneurs across Kuwait and Qatar, ITC and Visa moved onto the next phase of their collaboration with Qatar Fintech Hub (QFTH), with the three organisations aiming to introduce ‘Small Steps to Success’, a curriculum that includes entrepreneurial development, digitalisation, innovation, and soft skills. By being customised to youth and women entrepreneurs’ needs, the project focuses on fostering a supportive ecosystem via tailored peer-to-peer sessions and networking opportunities.

Moreover, the initiative aims to assist female entrepreneurs by joining forces with financial institutions to encourage inclusive practices and offering financial literacy trainings. The move follows the progressively important role that youth and women-led small and medium-sized enterprises (SMEs) have in the current economy of the Gulf Cooperation Council (GCC) region. In addition, substantial growth is projected for the proportion of women in the Middle East in professional and technical roles.

To further assist this advancement and growth, ITC SheTrades and Visa intend to expand their efforts in Qatar and Kuwait and support youth and women entrepreneurs in developing their operations and capabilities. The two companies aim to collaborate with QFTH, allowing the latter to have a strategic role in furthering these efforts by utilising its abilities as a fintech supported of the Qatari ecosystem’s sector. The alliance is set to enable QFTH to contribute with Visa and ITC to provide youth entrepreneurs with the required skills, tools, and connections to succeed via workshops, webinars, training sessions, and networking events.

Furthermore, representatives from QDB highlighted that the project is in line with the bank’s efforts to assist entrepreneurs’ growth and foster the development of a collaborative ecosystem. By creating an optimised digital economy, QDB intends to contribute to the advancement of the objective of the Third National Development Strategy and the region’s economic diversification plans.

The press release mentions that, as of the announcement, applications are open, with selected participants being set to receive assistance in identifying difficulties and opportunities to expand their business and receive access to an e-learning experience covering ecommerce strategies, sustainable business practices, and financial readiness.

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