Partnering to build a self-sustainable ecosystem for SMEs and startups in Africa

February 11th, 2019 – It’s no secret that Africa’s growth sits in the hands of SMEs and startups. For many years, public and private sector organisations have discussed the need to create a more enabling and self-sustaining ecosystem for startups and SMEs, where innovation can flourish and businesses can grow.

Partnerships with corporates are a key part of these ecosystems, writes Muhammad Nabil, partners and startups lead at Microsoft 4Afrika .

In 2018, a lot of this discussion progressed into positive action and milestone moments. Tunisia, for example, passed an official Startup Act, a legal framework encouraging entrepreneurship and improving access to funding, markets and new technologies. Entrepreneurship platform, RiseUp, launched a new Startup Manifesto of actionable solutions to shape Egypt’s entrepreneurial policy. And African startups smashed local funding records, with 210 startups securing US$334.5 million worth of investment.

One of the other calls has been for more partnerships between SME enablers. Financial institutions, Telco’s, technology companies and government entities have been encouraged to consolidate resources and provide bespoke offerings, saving entrepreneurs the headache of going to multiple suppliers for every need.

Last year, First Bank of Nigeria Limited, Vodacom Business Nigeria and MTN Nigeria all joined forces with Microsoft to make headway in this space. Through these partnerships, SME customers have access to financial services, data bundles, cloud services, educational platforms and business networks all in one place, giving them a trusted and accessible path to digital transformation.

More…http://disrupt-africa.com/2019/02/partnering-to-build-a-self-sustainable-ecosystem-for-smes-and-startups-in-africa/

Written by Distrupt Africa