Microsoft Corporation has set an ambitious goal to empower ten million Small and Medium Enterprises (SMEs) by 2025. Lillian Barnard, President of Microsoft Africa, made this announcement during a press conference in Lagos.
Barnard emphasized that Microsoft’s commitment to fostering economic growth in Africa hinges on providing SMEs with essential tools, infrastructure, and scaling support. This comprehensive approach is aimed at facilitating their expansion and encouraging strategic collaborations.
She stated, “Microsoft is dedicated to accelerating economic development in Africa by harnessing the transformative potential of technology. A crucial aspect of this mission involves enabling SMEs to access the digital financial tools and services they require for success. We believe that increased access to technology and innovation is the key to cultivating thriving local businesses, which in turn will contribute to stronger economies, creating a brighter future for all.”
Barnard also highlighted the pivotal role of fintech in supporting SMEs and the informal sector. These sectors are major employers, accounting for seven out of every ten jobs in the country, and contributing approximately 40 percent to the Gross Domestic Product of any economy.
In a significant move, Microsoft has entered into a 5-year strategic partnership with Flutterwave, signaling a new era for payment systems in Africa. This collaboration is set to revolutionize financial transactions and empower businesses across the continent.
