On the shortlist: Natasha Jamal

Shortlisted for the WIBF Inclusive Leader Award 2025, Natasha Jamal, Vice President for Social Impact at Mastercard, leads a global philanthropic portfolio set to reach 20 million people by 2027 — at least half of them women. Through initiatives such as Strive, Strive Women, and RISE, she is driving measurable progress in financial inclusion, empowering entrepreneurs and workers with digital tools, access to capital, and sustainable opportunity.

With a career spanning Canada, Kenya, the UAE, and the UK, Natasha brings a truly global perspective to advancing equity. She is equally committed to internal and external inclusion — mentoring rising female leaders, sharing best practices across teams, and ensuring women’s lived experiences shape the systems that serve them.

A Trustee of INTRAC and a member of the UK government-backed Invest in Women Taskforce, Natasha exemplifies purpose-driven leadership and a deep commitment to inclusive, systemic change.

We had a few questions for Natasha…

You oversee a global portfolio with an ambitious goal of reaching 20 million people by 2027, at least half of them women. What does success look like to you in this work?

Success, to me, is about creating meaningful, measurable impact – not just in terms of numbers reached, but in the depth of transformation we enable. Through Strive, we aim to equip small business owners with the tools to go digital, get capital, and grow networks and know-how. For women entrepreneurs specifically, success requires recognizing and addressing their distinct needs and barriers to unlock their growth potential. That means designing financial products and support services that reflect their lived realities – whether that’s navigating childcare responsibilities, limited collateral, or digital exclusion. Success also lies in our ability to influence the broader ecosystem: sharing insights, catalyzing partnerships, and shifting norms so that inclusive growth becomes the default, not the exception.

With Strive Women focusing on the $1.7 trillion finance gap for women entrepreneurs, how do you see the challenge evolving? Is it just about closing the gap, or also about reshaping how financial products and ecosystems are designed for women?

It’s not just about closing the gap – it’s about reimagining the system that created it. The $1.7 trillion finance gap for women entrepreneurs is a symptom of deeper structural issues. Many financial products were designed without women in mind, overlooking their preferences, constraints, and lived experiences. To truly unlock capital for women, we must move beyond retrofitting existing models and instead co-create solutions that are gender-intentional from the outset.

A powerful example is the gold-collateral loan product developed in Pakistan though our Strive Women program. Recognizing that many women own gold but lack formal assets, this innovation allowed them to leverage their gold as collateral to access credit. As a result of this redesigned product, we saw significant uptake from first-time borrowers, and repayment rates were well above what is typical for the market. This is a reminder that when we listen to women and design with a deep understanding of their unique circumstances, we can unlock new pathways to inclusion.

The challenge ahead is to mainstream this approach – embedding gender-focused design into product development, distribution, and policy frameworks so that financial systems work for everyone

Mentorship and coaching are key parts of your leadership. What lessons do you most often share with rising female leaders?

Three lessons stand out. First, build your network intentionally – mentors, sponsors, and peers can open doors you didn’t know existed. Second, lead as you’d like to be led. Empathy, pragmatism, and vulnerability aren’t soft skills – they’re leadership superpowers. And third, master the art of communication. What you say matters, but how and when you say it can be transformative. I often coach women to communicate with clarity and confidence, tailoring their message to their audience and using trusted voices to build credibility. In a virtual world, even tone and body language can shape perception – so we must be deliberate in how we show up.

Can you tell us more about your role as a Trustee for INTRAC and the work the organisation does to strengthen civil society worldwide?

INTRAC is a UK-based organisation dedicated to strengthening civil society globally. It works with NGOs, grassroots organisations, and development actors to build capacity, improve effectiveness, and foster sustainability. One of its unique strengths is its consulting arm, which provides tailored support to local organisations – helping them navigate complex challenges, develop strategies, and enhance their impact. INTRAC also champions locally led development, recognising that community-based organisations are best placed to drive change in their own contexts.

As a Trustee, I provide strategic guidance to the CEO and leadership team on a range of different topics. I bring a private sector lens to the board, drawing on my experience in communications and social impact to help INTRAC amplify its voice and deepen its influence. It’s a privilege to support an organisation that empowers changemakers on the front lines of development.

You’re part of the UK government-backed Invest in Women Taskforce. How important is cross-sector collaboration when it comes to unlocking capital for female entrepreneurs?

Cross-sector collaboration is not just important—it’s essential. The barriers facing female entrepreneurs are multifaceted, and no single actor can address them alone. Governments can set policy, but they need the private sector to innovate and scale solutions. Financial institutions can provide capital, but they need NGOs and community organisations to build trust and reach underserved women. Philanthropic funders can catalyse change, but they need data and insights from practitioners to guide their investments.
At the Mastercard Center for Inclusive Growth, our entire model is built on partnership. We work with a diverse ecosystem—fintechs, civil society, academia, and corporates—to co-design programs, share learnings, and align incentives. This approach allows us to test new ideas, adapt quickly, and scale what works. It also ensures that our solutions are grounded in reality—not just theory. When we collaborate across sectors, we unlock not only capital, but also creativity, credibility, and collective impact.

Looking ahead, what excites you most about the next phase of your work in social impact and gender equity, both within Mastercard and beyond?

I’m excited by the opportunities that emerging technology is bringing to supercharge our social impact work. Technologies like AI, open banking, and cybersecurity are transforming the digital and financial landscape, but they must be inclusive by design. We have a responsibility to ensure that these tools serve everyone, especially those who’ve historically been excluded. I’m also energised by the growing focus on financial health – not just unlocking access to financial services, but how do we also empower people to navigate their day-to-day needs, absorb shocks, and establish a more resilient future?

Beyond Mastercard, I’m passionate about supporting civil society, mentoring rising leaders, and advocating for systems change. I hope to continue to play a small part in encouraging others to embed equity into the core of their work so that inclusion isn’t simply an afterthought, rather, it becomes a guiding principle.