Microsoft is partnering with M-PESA Africa, Africa’s leading fintech and payments service, to support MSMEs. Through Microsoft’s Community Platform and SME Skilling Programs, the alliance intends to digitize and close the skills gap, boosting MSMEs’ potential in numerous African markets.
M-PESA Africa, which connects over 60 million people and helps over 900,000 enterprises with innovative business solutions, prioritizes digital skills development. MSMEs will learn how to create solid business models, manage their finances, and provide excellent customer service by integrating the Microsoft Community and Training platform.
SMEs in emerging economies provide 40% of GDP and create 90% of new jobs, while up to 80% of African SMEs fail within five years. Addressing the skills gap and giving access to business tools and capital has never been more important in a continent with the youngest working population and highest entrepreneurship rate.
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Empower African Entrepreneurs Digitally
Microsoft’s Africa Transformation Office is dedicated to closing the digital skills gap and equipping MSMEs with the tools they need to grow their markets and boost Africa’s economy. The IT giant wants to digitally enable 10 million African SMEs with relevant business apps and ready-to-use skilling content.
M-PESA business solutions would give MSMEs access to Microsoft enhancing skilling programs to help them manage their finances. The training includes basic accounting, financial planning, and cash flow management, which increases their chances of accessing formal financial services. Adopting digital tools allows access to digital payment systems, saving time and money.
The alliance aims to improve MSME entrepreneurs’ and communities’ lives and help them compete globally. The initiative aims to reduce inequities and empower vulnerable people, coinciding with UN Sustainable Development Goal 10. M-PESA Africa markets, including Kenya, Lesotho, Mozambique, the DRC, and Tanzania, will host the program.
M-PESA Africa Managing Director Sitoyo Lopokoiyit was excited about the partnership: “Micro, Small, and Medium businesses are the backbone of African economies, so empowering them to succeed creates an even greater impact for their communities due to their outsized economic contribution.”
Managing Director of Microsoft’s Africa Transformation Office Gerald Maithya stressed the importance of digitalisation for MSMEs without enough financial services. “For sustainable and inclusive economic growth, these important economically active businesses need an enabling environment to thrive and participate actively in the continent’s economies,” he said.
Microsoft and M-PESA Africa technology and innovation bring businesses more significant opportunities. It benefits communities and raises funds. This advantageous partnership would assist African MSMEs to succeed and stay in business.
