Microsoft, and Microsoft Philanthropies program, is partnering with M-PESA to support Micro, Small and Medium enterprises(MSME) digital Skills. The MSME program will be enabled in several M-PESA Africa markets, including Kenya, Lesotho, Mozambique, the Democratic Republic of Congo, and Tanzania.
Through the Microsoft Community and Training platform, M-PESA Africa will digitize skilling and leverage the community platform.
This is to equip MSMEs with the necessary skills to develop stronger business models, manage their finances and offer exceptional customer service.
In emerging economies, SMEs account for 40% of GDP, and generate at least 90% of new jobs. However, research indicates that up to 80% of African SMEs fail within the first five years, despite having the highest entrepreneurship rate in the world.
Access to business enablement tools, access to finance, and digital skills, are some of the key potential stumbling blocks for SMEs.
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Some of the benefits of digital skills according to a Digital Business article includes : digital skills can unlock new opportunities, compete effectively, and drive businesses forward.
Additionally, the goal of the program is to improve livelihoods for MSME entrepreneurs and their communities, and hopefully, open opportunities for these small businesses to compete in the global market.
“We are excited to partner with Microsoft to upskill entrepreneurs and provide them with business tools, that will enable them to run their businesses better and to grow their businesses. Micro, Small and Medium businesses are the backbone of African economies, therefore, empowering them to succeed creates an even larger impact for their communities, due to their outsized economic contribution,” said Sitoyo Lopokoiyit, Managing Director M-PESA Africa.
Further, Microsoft’s Managing Director at the Africa Transformation Office, Gerald Maithya, also noted that they look forward to seeing positive impacts from the partnership across the continent.
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