Business
Microsoft SA signs record-breaking BEE contract with dtic. (Photo by Oliver Berg/picture alliance via Getty Images)
As part of the Black Economic Empowerment Agreement with the Department of Trade, Industry and Competition (dtic), Microsoft will create an estimated R1.3 billion fund to invest in future-proof skills development and black-owned businesses in South Africa. promised.
Karan Rampai, Managing Director of Microsoft SA, and Ebrahim Patel, Minister for Trade, Industry and Competition, met on May 21 and signed an agreement that represents the largest contribution of funding by a single company under the Equity Equivalent Investment Programme, the Minister said. said.
“This transaction […] Establish a fund with an estimated value […] Some R1.3 billion will be deployed to support the growth and development of black South African youth and small businesses to navigate the changing landscape of the technology revolution.”
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“Under its agreement with dtic, Microsoft will create a fund of approximately R1.3 billion for future-proof skills development and black-owned businesses in South Africa…”
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Source link: https://www.news24.com/fin24/companies/microsoft-announces-r13bn-sa-fund-to-boost-black-owned-businesses-in-deal-with-govt-20240521
