Microsoft to support 10 million African SMEs by 2025

Microsoft Corporation has announced its pledge to support 10 million African small and medium enterprises by the year 2025.

Lillian Barnard, the President of Microsoft Africa, announced during a press conference in Lagos that she introduced a five-year strategic partnership with Flutterwave.

According to Barnard, Microsoft’s strategy involves equipping SMEs with key resources, essential infrastructure, and robust scaling support, all to nurture their development and foster strategic collaborations.

She stated,

While acknowledging the challenges confronting the SME space in Africa, the president also noted the latent opportunities that can be exploited for robust growth and development.

She further stated that the Cooperation is partnering with Fintech companies across Africa in an attempt to help grow the sector, highlighting Fintech’s role in the economic growth of SMEs.

According to her, access to financial services and the ability to conduct seamless transactions using local payment methods are common obstacles encountered by both SMEs and startups.

She noted that the strategic partnership between the payment technology company and Microsoft Azure aims to accelerate payment innovation in Africa and support the growth of small businesses across the continent.

On his part, the Country Manager of Microsoft Nigeria, Ola Williams, said that the growth of SMEs must begin with financial inclusion.

He described this strategy as a way to get small businesses moving from survival mode to a position where they can thrive and compete with their global contemporaries.