TikTok Empowers East African MSMEs with $1.5 Million Investment

By : Adoni Conrad Quenum

Date : vendredi, 08 décembre 2023 15:08

Recognizing the growing influence of social networks in fostering entrepreneurship, TikTok has launched a program specifically designed to empower entrepreneurs in sub-Saharan Africa.

Chinese tech giant TikTok, partnering with the non-profit Yunus Social Business (YSB), announced on Wednesday, December 6th, a $1.5 million investment in East African micro, small, and medium-sized enterprises (MSMEs). This initiative, focused primarily on Kenya, aims to equip MSMEs with the resources, particularly digital skills, necessary for growth and success.

Through the TikTokEmpower program, TikTok will establish training and mentorship programs covering crucial topics such as brand building, sales and e-commerce strategies, and leveraging digital platforms for business success.

"This #TikTokEmpower partnership with YSB represents a transformative opportunity to empower entrepreneurs, address social challenges and stimulate sustainable economic growth in Kenya and East Africa. We've seen the profound impact and real opportunity that TikTok brings to small businesses around the world, and we're proud to encourage this entrepreneurial spirit and digital innovation in Africa," said Fortune Mgwili-Sibanda, Director of Government Relations and Public Policy for Sub-Saharan Africa for TikTok.

Before opening its Kenyan office, the Chinese giant invested in William Ruto's country with its TikTokEmpower program. In August, the social network had come close to being banned in the country before its CEO Shou Zi Chew announced the opening of physical offices to oversee its activities in East Africa after a virtual meeting with the authorities. With this investment, TikTok is increasing its involvement on the African continent where it is, according to a September report by GeoPoll, the second most-used social network after Facebook.

Adoni Conrad Quenum

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