Microsoft aims to provide digital tools to empower 10 million small and medium-sized enterprises (SM
Microsoft Corporation has announced its goal of empowering ten million small and medium enterprises by the year 2025. This initiative was disclosed by Lillian Barnard, President of Microsoft Africa, during a press conference held in Lagos.
Barnard emphasized that Microsoft will provide SMEs with vital tools, infrastructure, and scalable assistance to facilitate their expansion and encourage strategic partnerships.
She stated, "Microsoft is dedicated to accelerating economic development in Africa through the transformative potential of technology. A fundamental aspect of this commitment is enabling SMEs to access the digital financial tools and services required for their success."
"We are convinced that increased access to technology and innovation is the cornerstone for nurturing robust local businesses, which, in turn, will stimulate more prosperous economies and pave the way for a brighter future for everyone."
Additionally, she pointed out that fintech companies are assisting SMEs and the informal sector, which is a major source of employment, responsible for generating seven out of every ten jobs in the country and contributing approximately 40 percent to the Gross Domestic Product of any economy.
Furthermore, Microsoft entered into a five-year strategic collaboration with Flutterwave, aimed at transforming the payment landscape in Africa.
A significant obstacle faced by both SMEs and startups is the limited access to financial services and the challenge of conducting seamless transactions using local payment methods.
Ola Williams, the Country Manager of Microsoft Nigeria, emphasized, "To foster enduring progress in Nigeria, small businesses must have the means to engage more effectively in the local and even global market. This journey begins with ensuring digital financial inclusion."
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