Technology giant, Microsoft has announced an investment of over R1.3 billion (US$71.6 million) in South Africa. This funding aims to support small and medium-sized businesses, enhance job creation, and advance artificial intelligence (AI) technology in the country.
This initiative follows the recent closure of Microsoft’s Nigerian branch of the African Development Centre, with the company shifting its focus to facilities and staff in Kenya to meet its goals for the continent.
The company’s investment in South Africa focuses on several key areas, including fostering entrepreneurship, building a digital economy, and developing youth skills in data analytics, cybersecurity, AI, and machine learning. This initiative is expected to unlock inclusive growth and contribute significantly to the local job market.
The ten-year agreement was formalized with South Africa’s Department of Trade, Industry, and Competition during a ceremony held at Microsoft’s Johannesburg headquarters on Tuesday. Microsoft’s commitment is set to spur the development of small, medium-sized, and micro enterprises (SMMEs), creating numerous local opportunities.
The investment in South Africa underscores Microsoft’s strategy to achieve its corporate goals across the African continent by concentrating on regions poised for digital and economic growth.
Follow the Parallel Facts channel on WhatsApp: https://whatsapp.com/channel/0029VaCQSAoHgZWiDjR3Kn2E
