Microsoft plans to invest US$297 million in South Africa by 2027 to enhance its cloud and AI capabilities. This investment contributes to a total of 20.4 billion rand already invested, aiming to boost economic growth and provide digital skill certifications for 50,000 youth.
Microsoft Corporation has announced plans to invest an additional 5.4 billion rand (approximately US$297 million) in South Africa by the end of 2027. This investment aims to bolster the company’s cloud and artificial intelligence capabilities within the nation. This statement was made by Vice Chairman Brad Smith during an event in Johannesburg, coinciding with an upcoming South African investment conference.
This latest commitment adds to the existing 20.4 billion rand that Microsoft has already invested in South Africa, signaling a beneficial impact on the local economy. The funds allocated will facilitate the certification exams in digital skills for 50,000 young individuals over the coming year, promoting innovation, economic development, and workforce readiness.
South Africa is prioritizing the enhancement of private sector investment to invigorate its economic growth, which has been stagnant at less than one percent annually for over a decade. Microsoft has been a pioneer among major tech firms, establishing data centers in the country, with others like Amazon and Google following suit. The company currently operates data centers in Johannesburg, Cape Town, and is set to expand in Centurion, Gauteng.
President Cyril Ramaphosa praised Microsoft’s investment, stating it underscores South Africa’s economic potential and reassures the business community of the security of their investments. His remarks emphasized that Microsoft demonstrates a strong commitment to the African continent.
In summary, Microsoft’s substantial investment in South Africa is poised to enhance cloud infrastructure and digital education while revitalizing economic growth. This move highlights the company’s dedication to fostering a skilled workforce and reflects the broader potential of South Africa as a stable investment location for major technology firms.
Original Source: financialpost.com
