MTN Foundation’s R1million Women In Digital Business Challenge Empowers Women To Conquer The ICT World
MTN Foundation’s R1million Women In Digital Business Challenge Empowers Women To Conquer The ICT World. South African women are making their presence felt in South African business, bur it still remains true that women remain underrepresented in the world of tech to develop and transform the industry, says the MTN Foundation, which today launched the 2024 edition of its R1 million Women in Digital Business Challenge. The event reinforces the MTN SA Foundation’s ICT SMME accelerator programmes to encourage the participation of women in South Africa’s ICT sector.
“The Challenge will run for six months and offer ten women digital pioneers an opportunity to strengthen and grow their small enterprises into sustainable businesses. Selected from women who have already participated in MTN sponsored business development programmes, each of the ten finalists will receive R 100 000. The prize money will be used for working capital, business development, purchasing tangible assets, investing in business technology hardware, software or IP, and technical and soft skills training”, says MTN SA Foundation General Manager, Arthur Mukhuvha.
To ensure that the prize money is well invested in growing businesses, winners will work with appointed business coaches and experts to identify where the money can be most effectively used. In this way, MTN believe that the women, their businesses and the communities in which they operate and serve will benefit.Research conducted in 2021 by the Department of Higher Education and Training, showed that more women than men were enrolled at tertiary institutions. Women graduating with Science, Engineering and Mathematics-based (STEM) qualifications in 2022 represented 13% of the total graduates, bur only two percent entered the ICT industry.
“We believe that STEM-qualified women can excel within the science and tech sectors. By supporting talented women through the Women in Digital Business Challenge, we believe that we will be empowering women to play more leading roles in the economy.In addition, because many of these businesses are focused on meeting communityneeds, women can play a vital role in helping address the skills and employment issues that our nation faces,” adds Mukhuvha.
“During 2023 MTN also formalised a partnership with the National Youth Development Agency by both parties signing a memorandum of understanding (MOU). This showcases the commitment of the public and private sector institutions to work together, develop and empower the youth and henceforth create opportunities for our youth and women to be able to participate in the mainstream economy.”
The Women in Digital Business Challenge is the MTN Foundation’s practical contribution to fostering scarce skills and encouraging women to enter the sector and inspire others to make sustained contributions to the communities in which MTN operates.
By having graduates and alumni of previous business and training interventions participating in the Women in Digital Business Challenge, MTN will further assist entrepreneurs who have already shown they have the passion and dedication to create ICT-based businesses. This year the challenge was also open to womenowned businesses from the NY DA, with four of their submissions making the top 10.
The Foundation has vetted and shortlisted 20 women who wish to change the face of the tech industry. Women selected during this process then competed in a two-day ‘pitching competition’, showcasing their businesses and competing for a Top-10 place.
Following their selection, the ten entrepreneurs will start a four-month mentorship journey and receive expert advice on growing their businesses and adopting marketing strategies. They will also receive help improving their financial and business management skills. “We are confident that, as previous finalists have shown, the ten graduates of the 2024 Challenge will use their skills and entrepreneurial flair to build their businesses and assist others in achieving their technical ambitions,” Mukhuvha concludes.
