Microsoft Corporation has declared its commitment to assist 10 million small and medium-sized businesses in Africa by the year 2025.
According to The Times, Microsoft Africa President Lillian Barnard announced a five-year strategic relationship with Flutterwave during a press presentation in Lagos.
According to Barnard, Microsoft’s approach entails providing SMEs with crucial tools, crucial infrastructure, and strong scaling assistance in order to nurture their growth and promote strategic alliances.
“Microsoft is committed to accelerating economic growth in Africa through the transformative power of technology,” she said. “A key part of this involves making it possible for SMEs to acquire the digital financial tools and services they need to succeed.”
“We believe that having more access to technology and innovation holds the key to creating strong local economies and thriving local businesses that will enable a better future for all.”
The president acknowledged the difficulties that SME owners in Africa face, but she also mentioned the untapped potential for significant expansion and growth.
She went on to say that the Cooperation is collaborating with Fintech firms all over Africa in an effort to support the sector’s expansion, underlining Fintech’s contribution to the economic expansion of SMEs.
She stated that similar challenges faced by SMEs and startups alike include access to financial services and the capacity to perform smooth transactions utilizing local payment methods.
She pointed out that the strategic alliance between the provider of payment technology and Microsoft Azure seeks to promote small business development all over the continent of Africa and speed up the development of payment innovation on the continent.
According to the Country Manager of Microsoft Nigeria, Ola Williams, the expansion of SMEs must start with financial inclusion.
He described this tactic as a technique to transition small enterprises from a state of survival to one in which they may flourish and compete with their international counterparts.
“Small firms must have the opportunity to participate more actively in the local and even international markets in order to promote sustainable growth in Nigeria. The incorporation of digital finances comes first if we want to create a nation that is more resilient and ultimately a continent that is rich and thriving,” he said.
