Mastercard Incorporated (NYSE: MA) took an excellent step to support the businesses of Black women. Businesses owned by black women experienced the hardest hit because of the pandemic. To assist black women and to remove the obstacles in their path towards a successful business, Mastercard has collaborated with GRAMMY Award-winning singer/songwriter Jennifer Hudson to roll out a platform for black women.
The new platform named “Strivers Initiative” is a consumer-facing platform that is promoting the prominence of Black female business owners. The Strivers Initiative is comprised of grant programs. Mastercard has also disclosed that it has partnered with Fearless Fund to introduce the funds for the Black women businesses.
The new initiative also accompanied by a multi-city educational road show driving knowledge of the state of women and minority-owned businesses in cities across the U.S. and also offering understanding into radical measures taken by cities in order to promote an unbiased environment for business.
This new step taken by Mastercard is proof of its commitment it has earlier made to support the businesses of the black women over the period of next five years. The firm vowed to offer support to black women businesses. The promise of the firm contains products, services, technology, and financial assistance, as well as financing that will concentrate on delivering Black-owned businesses and Black people's ability to access inexpensive financial instruments and wealth.
Mastercard and its ambassador Jennifer Hudson will launch the “Strivers Initiative” in the new location of MA. At the launch, Hudson will present “Ain’t No Mountain High Enough” as an anthem for Black women business owners throughout the country who are moving on their Path to Priceless and whose corporations act as the fundamental pillars for their people.