Microsoft has partnered with M-Pesa Africa to equip 10 million MSMEs (Micro, Small and Medium Enterprises) in African with digital skills.
The Microsoft Community and Training Program will enable the businesses to develop a stronger business model, manage their finances and offer exceptional customer services.
M-pesa Africa Managing Director, Sitoyo Lopokoiyit said through the partnership, M-pesa will offer MSMEs with business solutions like basic accounting, financial planning and cash flow management which will help them manage their finances more effectively.
“In line with our purpose of transforming lives, we continue to pursue innovations and partnerships that connect customers and businesses across the continent to more opportunities while uplifting their livelihoods,” said Lopokoiyit.
The MSMEs will have access to formal financial services such as bank accounts, financial loans and business insurance. The adoption of digital tools like the digital payment systems will come in handy in saving time and reduce the cost associated with manual transactions.
“MSMEs are the backbone of African economies and therefore empowering them to succeed creates an even larger impact for their communities due to their outsized economic contribution,” he added.
Managing Director, Africa Transformation Office, Microsoft, Gerald Maithya said Microsoft aims to reduce inequalities and empower the vulnerable groups by giving them an opportunity to compete in the global market.
“Digitisation can significantly enhance financial inclusion, most particularly for underserved and underserved enterprises such as MSMEs. Creating an enabling environment for these important economically active businesses that helps them thrive and participate actively in the continent’s economies is essential for sustainable and inclusive economic growth,” said Gerald.
The program will be enabled in several M-PESA Africa markets, including Kenya, Lesotho, Mozambique, the Democratic Republic of Congo, and Tanzania.