Microsoft South Africa has entered into a groundbreaking $70.5 million agreement with the Department of Trade, Industry, and Competition (DTIC) to invest in artificial intelligence (AI), marking a significant milestone in the country's digital transformation. This decade-long investment aims to elevate black-owned small, micro, and medium enterprises (SMMEs) across both tech and non-tech sectors, empowering them to thrive in an AI-driven economy.

The initiative, which will benefit approximately 200 SMMEs and over 2,000 individuals, focuses on enhancing AI knowledge and skills to prepare them for future job opportunities. This endeavor operates under the Equity Equivalent Investment Programme provisions of the B-BBEE Act, allowing Microsoft to earn BEE points while contributing to the growth and development of black-owned businesses.

The investment is designed to foster SMME growth, generate local prospects, and prepare South Africa for the transformative impact of AI. By equipping SMMEs with AI skills, Microsoft aims to create a more inclusive and competitive digital economy, where black-owned businesses can thrive and contribute to the country's economic development.

This partnership underscores Microsoft's commitment to promoting digital inclusion and economic empowerment in South Africa. By investing in AI and SMME development, Microsoft is not only enhancing its own business prospects but also contributing to the country's long-term economic growth and competitiveness.

As South Africa continues to navigate the complexities of AI-driven transformations, this investment serves as a beacon of hope for the country's small businesses and entrepreneurs. By empowering them with AI skills and knowledge, Microsoft is helping to create a more sustainable and inclusive digital economy, where black-owned businesses can flourish and contribute to the country's prosperity.