Microsoft has made a significant investment of R1.3 billion into the South African economy in a transformative BEE deal. This partnership with the Department of Trade, Industry, and Competition aims to empower black-owned SMMEs over the next decade, focusing on the development of tech and non-tech sectors.
The agreement includes a commitment to upskill 200 SMMEs and over 2,000 individuals in advanced artificial intelligence (AI) knowledge and capabilities to prepare them for future job opportunities. This investment is structured under the Equity Equivalent Investment Programme provisions of the B-BBEE Act, allowing companies like Microsoft to earn BEE points through such contributions.
Microsoft South Africa’s Managing Director, Kalane Rampai, stressed the importance of AI in today’s rapidly evolving technological landscape, emphasizing the need for individuals to acquire the necessary skills to remain competitive. The investment will also facilitate the digital transformation of up to 42 SMMEs and startups, collaboration with TVET colleges for skills development, and the support of advanced research and development projects.
This initiative signifies Microsoft’s commitment to fostering growth, job creation, and digital innovation in South Africa. It aims to equip SMMEs with the tools and resources needed to thrive in a digital economy, ultimately contributing to broader economic development across the continent. DTIC Minister Ebrahim Patel highlighted the importance of technology in enhancing competitiveness and innovation across various sectors, noting the role of this investment in preparing South Africans for a digitalized world.
Overall, this partnership between Microsoft and the DTIC represents a step towards creating a more inclusive and dynamic economy through technology-driven empowerment and skills development.
