Key Insights on Inclusive Growth and Digital Trust from the Global Summit
These are undeniably turbulent times, but a central message from the recent Global Inclusive Growth Summit in Washington, D.C., was clear: this is not a moment for passivity. Instead of staying still amid the chaos, leaders were urged to take proactive steps. Shamina Singh, president and founder of the Mastercard Center for Inclusive Growth, emphasized that periods of instability present a powerful chance for innovation. “Now more than ever, we need fresh thinking, innovative approaches, and intentional collaborations designed for today’s realities — and tomorrow’s,” she said.
Attendees — including policymakers, philanthropists, nonprofit leaders, and futurists — grappled with key questions: How can economic progress be inclusive and sustainable? How do we embrace digital advancements without exposing small businesses to rising cyber risks? And what kind of leadership is best suited to navigate a world in flux?
“We must now expect major disruptions not once a decade, but annually,” said Henry Timms, CEO of Brunswick Group. “Strong leadership in volatile times demands managing immediate hurdles while maintaining a forward-looking perspective.”
1. Financial wellbeing requires a collective effort.
Financial health isn’t solely defined by income or savings, noted financial educator Haley Sacks (aka Mrs. Dow Jones) in a dialogue with Queen Máxima of the Netherlands, the UN’s financial health advocate. As Sacks put it, “Just like having a gym membership doesn’t mean you’re fit, a paycheck doesn’t equal financial stability.”
Queen Máxima stressed the importance of financial institutions truly understanding their clients’ needs and building tools that help people manage their finances — benefiting both the customers and the companies. Employers, she added, also have a role to play by introducing systems like automatic savings, which can enhance employee wellbeing and productivity.
As digital tools become more integrated into financial systems, collective action is necessary. Andy Kuper, CEO of LeapFrog Investments, underscored the value of holistic support: “People don’t thrive financially with just one product. They need a whole suite of tools — savings, insurance, credit, and more.” With strategic investments, billions could gain access to these resources.
Despite current economic challenges, the global middle class is expanding. According to Wolfgang Fengler of World Data Lab, over half the world’s population is already part of this income group, with significant growth expected in Asia over the next decade. His advice: “Never underestimate the power of digital tools or the rise of the global middle class.”
2. Trust is essential in a digital economy.
Mastercard CEO Michael Miebach stated that cybersecurity has become a foundational element of an inclusive economy. However, as cyber threats grow more sophisticated, the divide between those with strong digital defenses and those without is widening, threatening public trust in digital systems.
To restore trust, individuals must regain ownership of their personal data, said Frank McCourt, executive chairman of McCourt Global. He proposed a shift from the current attention-based digital economy to one where people can economically benefit from their data.
Cybersecurity also needs to be viewed beyond technical terms — it’s a leadership and economic issue, according to Mastercard’s deputy CISO Alissa Abdullah. Cyber risks can affect entire economies and infrastructure systems, she said, urging leaders to take them seriously.
Collaboration is key. Miebach pointed out that global fragmentation hinders effective information-sharing. “The only way to defend against threats is through cooperation.” INTERPOL’s Valdecy Urquiza echoed this, emphasizing the need for global, cross-sector collaboration, since cybercriminals know no borders.
3. Bridging the digital divide is essential — everywhere.
Whether in rural America or developing regions, tackling the digital divide means investing in infrastructure like broadband and education that connects people to better jobs.
As World Bank CIO Amy Doherty humorously observed, internet access now rivals basic human needs. In the U.S., more coordination between government levels and private companies is required. Ross DeVol, CEO of Heartland Forward, called it the biggest economic challenge in many rural areas: “Without reliable internet, communities simply can’t compete.”
Julie Gehrki, president of the Walmart Foundation, highlighted the importance of aligning workforce training with employer needs. If a rural business begins requiring tech-savvy workers, local training programs must be ready to prepare people accordingly.
Africa also represents a major opportunity. With a growing, tech-native population and strong adoption of modern technologies, the continent is poised for economic leadership. Doherty noted that with more investment in power infrastructure, technologies like AI could help emerging economies leapfrog traditional development paths. In agriculture, for instance, AI could offer farmers personalized insights to boost yields and support community wellbeing.
In a closing conversation, Mastercard’s Jon Huntsman spoke with James Mwangi of Equity Group Holdings, which is part of an initiative to expand digital services across Africa. Mwangi summed up Africa’s growing role: “Africa is not here to ask — it's here to contribute. With its human capital and agricultural potential, it has a lot to offer the world.”
Attendees — including policymakers, philanthropists, nonprofit leaders, and futurists — grappled with key questions: How can economic progress be inclusive and sustainable? How do we embrace digital advancements without exposing small businesses to rising cyber risks? And what kind of leadership is best suited to navigate a world in flux?
“We must now expect major disruptions not once a decade, but annually,” said Henry Timms, CEO of Brunswick Group. “Strong leadership in volatile times demands managing immediate hurdles while maintaining a forward-looking perspective.”
1. Financial wellbeing requires a collective effort.
Financial health isn’t solely defined by income or savings, noted financial educator Haley Sacks (aka Mrs. Dow Jones) in a dialogue with Queen Máxima of the Netherlands, the UN’s financial health advocate. As Sacks put it, “Just like having a gym membership doesn’t mean you’re fit, a paycheck doesn’t equal financial stability.”
Queen Máxima stressed the importance of financial institutions truly understanding their clients’ needs and building tools that help people manage their finances — benefiting both the customers and the companies. Employers, she added, also have a role to play by introducing systems like automatic savings, which can enhance employee wellbeing and productivity.
As digital tools become more integrated into financial systems, collective action is necessary. Andy Kuper, CEO of LeapFrog Investments, underscored the value of holistic support: “People don’t thrive financially with just one product. They need a whole suite of tools — savings, insurance, credit, and more.” With strategic investments, billions could gain access to these resources.
Despite current economic challenges, the global middle class is expanding. According to Wolfgang Fengler of World Data Lab, over half the world’s population is already part of this income group, with significant growth expected in Asia over the next decade. His advice: “Never underestimate the power of digital tools or the rise of the global middle class.”
2. Trust is essential in a digital economy.
Mastercard CEO Michael Miebach stated that cybersecurity has become a foundational element of an inclusive economy. However, as cyber threats grow more sophisticated, the divide between those with strong digital defenses and those without is widening, threatening public trust in digital systems.
To restore trust, individuals must regain ownership of their personal data, said Frank McCourt, executive chairman of McCourt Global. He proposed a shift from the current attention-based digital economy to one where people can economically benefit from their data.
Cybersecurity also needs to be viewed beyond technical terms — it’s a leadership and economic issue, according to Mastercard’s deputy CISO Alissa Abdullah. Cyber risks can affect entire economies and infrastructure systems, she said, urging leaders to take them seriously.
Collaboration is key. Miebach pointed out that global fragmentation hinders effective information-sharing. “The only way to defend against threats is through cooperation.” INTERPOL’s Valdecy Urquiza echoed this, emphasizing the need for global, cross-sector collaboration, since cybercriminals know no borders.
3. Bridging the digital divide is essential — everywhere.
Whether in rural America or developing regions, tackling the digital divide means investing in infrastructure like broadband and education that connects people to better jobs.
As World Bank CIO Amy Doherty humorously observed, internet access now rivals basic human needs. In the U.S., more coordination between government levels and private companies is required. Ross DeVol, CEO of Heartland Forward, called it the biggest economic challenge in many rural areas: “Without reliable internet, communities simply can’t compete.”
Julie Gehrki, president of the Walmart Foundation, highlighted the importance of aligning workforce training with employer needs. If a rural business begins requiring tech-savvy workers, local training programs must be ready to prepare people accordingly.
Africa also represents a major opportunity. With a growing, tech-native population and strong adoption of modern technologies, the continent is poised for economic leadership. Doherty noted that with more investment in power infrastructure, technologies like AI could help emerging economies leapfrog traditional development paths. In agriculture, for instance, AI could offer farmers personalized insights to boost yields and support community wellbeing.
In a closing conversation, Mastercard’s Jon Huntsman spoke with James Mwangi of Equity Group Holdings, which is part of an initiative to expand digital services across Africa. Mwangi summed up Africa’s growing role: “Africa is not here to ask — it's here to contribute. With its human capital and agricultural potential, it has a lot to offer the world.”
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