Microsoft South Africa has unveiled a $70 million investment in the South African economy, as part of a 10-year agreement with the Department of Trade, Industry, and Competition (DTIC) to support small, micro, and medium-sized enterprises (SMMEs), create jobs, and prepare the country for the Artificial Intelligence (AI) revolution.
A substantial portion of the $34.6 million investment will fund an enterprise development program. The DTIC emphasized that the initiative’s primary goals are to support technology businesses led by black South African entrepreneurs and to promote innovation in disruptive technologies.
Additionally, a $18.9 million skills development effort is planned to provide young black South Africans with extensive training through certification courses and leadership programs. An R&D initiative of $8.7 million will fund research programs, including a $2.7 million investment in consultation with the Localisation Support Fund to integrate emerging technologies into industrialization and localization efforts.
Commenting on the transformative potential of AI, Managing Director of Microsoft South Africa, Kalane Rampai, stated, “We believe there is a massive opportunity for those willing to skill up on AI. At the same time, organisations that empower employees with AI tools and training will attract the best talent.”
To address local issues such as youth unemployment, employability, inequality, sustainability, and global competitiveness, Microsoft South Africa will implement programs aimed at enhancing ICT capabilities in SMMEs and among youth. These initiatives will focus on areas including machine learning, AI, cybersecurity, and data analytics.
President for Microsoft Africa, Lillian Barnard, summarised the investment, stating, “consistent with our mission to empower every person and every organisation on the planet to achieve more, this investment represents our commitment to empowering individuals and small businesses to be part of Africa’s digital economy and to drive job creation and growth that will benefit the entire region.”
In addition, Microsoft indicated that the SME development program would not only focus on technical skills but also explore entrepreneurial talents to establish sustainable enterprises in South Africa. Barnard concluded, “transformative technologies, such as cloud and AI, have the potential to solve some of South Africa’s most pressing challenges, while also unlocking opportunities to fuel inclusive, sustainable economic growth.”
Through this investment, Microsoft aims to equip 200 small, micro, and medium enterprises (SMMEs) and over 2,000 individuals with advanced AI knowledge and other capabilities, preparing them for future job opportunities.
