BEIRUT: Lebanon was declared joint first for entrepreneurial activity in the Middle East and Africa region along with Morocco according to a study by MasterCard, with 31 percent of Lebanese and Moroccans being involved in entrepreneurial-related activities. The report also analyzed the contribution of women entrepreneurs in the economy in 24 countries in the Asia/Pacific and Middle East and Africa region (APMEA). Following Lebanon and Morocco, Egypt came in second, with 20.2 percent of its citizens being involved in entrepreneurial-related activities. It was followed by the United Arab Emirates (19 percent), Saudi Arabia (8.8 percent), and South Africa (7.3 percent). The report noted that women-owned small and medium sized enterprises (SMEs) in Lebanon are mainly concentrated in small businesses, yet some women’s divergence toward “male-dominated sectors” such as engineering and industry has been evidenced lately. The report also found that almost half (48.7 percent) of 230 Lebanese businesswomen owned SMEs, the majority of which were financed through reinvesting business earnings, 28.4 percent through “private sources” (savings, loans from friends, etc.) and 20 percent through loans from banks or financial institutions.