Microsoft (Nasdaq “MSFT” @microsoft), through its 4Afrika Initiative, has collaborated with the Tony Elumelu Foundation (TEF) to provide entrepreneurs in the TEF Entrepreneurship Programme with technology-based tools, resources and mentorship. Through this support, the two organisations will help entrepreneurs effectively leverage Information Communication Technology (ICT) to modernise their businesses, improve their offerings and achieve scale.
Akin Banuso, General Manager, Microsoft Nigeria has this to say about the partnership: “Microsoft 4Afrika and the Tony Elumelu Foundation share a common goal to accelerate economic and social development by promoting entrepreneurship”.
Note: SMEs refer to Small and Medium-scale Enterprises
“As we enter into an era of digital transformation, it’s vital that we help all entrepreneurs develop relevant technology skills and integrate ICT into their businesses. Technology can help SMEs reach customers outside their local markets, generate powerful business insights and improve their customer retention. We have found that SMEs who adopt this kind of modern IT have seen 15% faster revenue growth than those not using it.”, he added.
SMEs who adopt modern IT see 15% faster revenue growth than those not using it
As part of the collaboration, Microsoft 4Afrika will provide TEF entrepreneurs with:
- Access to cloud-based software, online support and technology through BizSpark
- Access to information and markets through the Biz4Afrika platform, where SMEs can trade with similar-sized organisations
- Technical training on Microsoft technologies and platforms during the 2017 TEF Forum
- Online business and technology training through the Microsoft Virtual Academy, to support entrepreneurs through their start-up, growth and acceleration phases
- Access to Microsoft experts for virtual and in-person mentorship through the MySkills4Afrika programme
- Access to the Interns4Afrika programme, a program that offers young people a unique experience working with Microsoft in Africa
Note: (Microsoft) BizSpark is a Microsoft Programme that provides support to software entrepreneurs.
In addition, Microsoft will also identify high-potential entrepreneurs from the TEF Entrepreneurship Programme and integrate them into its Innovation Grant Programme. Since 2013, the Innovation Grant Programme has provided financial support to over 55 local start-ups, who have since generated $5.1 million in reciprocal investments.
“Every year, the TEF Entrepreneurship Programme provides 1,000 entrepreneurs with business training, mentoring, access to seed capital funding and membership into the TEF Africa-wide Network. With Microsoft on-board, we’re adding an essential ICT platform and partner to this mix, which will help to strengthen the capacity of our entrepreneurs – ensuring they remain relevant and competitive,” says Parminder Vir OBE, Tony Elumelu Foundation, CEO.
See more information on Microsoft 4Afrika and the Tony Elumelu Entrepreneurship Programme.