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Mastercard Targets 50,000 Jamaican Small Businesses for Formalization by 2030
Global financial services provider Mastercard has announced a plan to integrate 50,000 Jamaican micro, small, and medium-sized enterprises (MSMEs) into the formal economy by 2030. The initiative aims to expand access to digital payment systems and strengthen financial inclusion across the island. Key Details During a media roundtable held in St Andrew on October 15, Mastercard’s Country Manager for Jamaica, Dalton Fowles , revealed that the company will focus on empowering small businesses through digital payment solutions, capacity building, and partnerships between the public and private sectors. “In fact, while I can’t get into a lot of those details, I can tell you that between now and 2030, it is our intention to bring at least 50,000 micro-businesses in the formal economy. A lot of those discussions are well underway, well advanced, and it will be [a] partnership between public and the private sector,” Fowles said. According to the Ministry of Industry, Investment and Commerc...
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