To tweet this news, copy and paste: <Female entrepreneurs learn Financial and Business Management Skills at Penultimate Ro’Ya Workshop> 

Dubai, United Arab Emirates (UAE), 07 September, 2014 – MasterCard and the Dubai Business Women Council (DBWC) recently hosted a workshop on financial and business management skills as part of the Ro’Ya initiative aimed at supporting and nurturing female entrepreneurs in the UAE.

During the session, the participants got a chance to meet and learn from Raghu Malhotra, Division President, Middle East and North Africa, MasterCard. Malhotra guided the participants through an interactive dialogue during which he addressed key considerations for starting up a new business and how the entrepreneurs should approach their growth strategy.

“At MasterCard, we understand the importance of helping entrepreneurs realize their business ideas, as their success is vital for the growth of country’s economy,” said Raghu Malhotra. “Females in the Arab world are increasingly playing an active role in the SME segment and we are delighted to support their growth through Ro’Ya.  Our workshop series is a great way for entrepreneurs to learn fundamental skills required to develop their ideas.”

Following Malhotra’s session, Pratik Khowala, Regional Finance Officer, Middle East and Africa at MasterCard provided an overview of the key financial principles that the participating female entrepreneurs need to consider when starting their businesses. He also elaborated on the key aspects of financial management such as cost management, cash flow, understanding financial regulations and how to address possible financial issues that may arise.

“Developing a thorough understanding of financial management is an important aspect that entrepreneurs need to keep in mind when starting their new businesses,” stated Pratik Khowala. “Through this session, we hope to educate female entrepreneurs about how to manage their finances efficiently so they can apply this knowledge to their ventures and ensure that their enterprises are financially viable.”

The final session on “Pitching your idea” will be held on Thursday, October 2, 2014 after which the Ro’Ya judging process will begin.

-ENDS-

About Ro’Ya:

Ro’Ya is a result of a recently announced collaboration between DBWC and MasterCard that builds on the efforts of both organizations to mobilize and encourage women to participate in the economic sector by realizing their entrepreneurial ventures. The aim of the program is to provide coaching and mentorship to aspiring female entrepreneurs looking to establish new businesses.

Through Ro’Ya, aspiring and existing female entrepreneurs who are either citizens or residents of the UAE were encouraged to submit their business proposals through a dedicated microsite on www.dbwc.ae, where necessary information regarding the proposed venture was to be shared.

The top three women entrepreneurs will receive a cash prize of USD 50,000, USD 30,000 and USD 20,000 respectively to be used towards start-up costs. In addition, five candidates will also receive USD 5,000 each. MasterCard will also continue to work very closely with the top winners, after the competition is over, to provide professional guidance and relevant networking opportunities that will kick-start their businesses and prepare them for long term-success.

 

About MasterCard:

MasterCard (NYSE: MA), www.mastercard.com,is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter: @MasterCardMEA,@MasterCardNews,join the discussion on the Cashless Pioneers Blog and subscribe for the latest news on the MEA Engagement Bureau.

Contacts:

Natasha Jamal, Communications Manager, MasterCard, +971 56 369 8422, natasha_jamal@mastercard.com 

 

About DBWC:

Established in 2002, under the umbrella of the Dubai Chamber of Commerce and Industry, the Dubai Business Women Council is the official representative organisation for business women, both professionals and entrepreneurs, in the Emirate of Dubai. Building awareness, educating, promoting opportunities and enhancing positive change in the community towards the acceptance of women in business is at the heart of the DBWC’s belief in empowering women and motivating them to be productive members of the society and economy. For more information about DBWC and their recent activities, visit www.dbwc.ae

Log on to the Council’s Facebook page – https://www.facebook.com/pages/Dubai-Business-Woman-Council-DBWC/146645812070341

Contact:

Sara Riad Ali, PR Manager, Emblem, +971 55 568 3205, sara@emblem.ae