MTN Foundation launched its 2024 edition of Women in Digital Business Challenge on Monday to tackle the weary presence of women in the information, communication and technology (ICT) industry.
The challenge aims to foster the participation of women in South Africa’s ICT sector.
After vetting and shortlisting 20 applicants, the challenge absorbed a cohort of 10 women who are small business owners, where R1 million was invested.
Each contestant received R100K towards developing their businesses.
According to MTN South Africa Foundation general manager, Arthur Mukhuvha, the challenge is set to run for six months, offering participants an opportunity to strengthen and grow their small businesses into sustainable and thriving enterprises.
“The prize money will be used for working capital, business development, purchasing tangible assets, investing in business technology hardware, software or intellectual property (IP), and technical and soft skills training,” said Mukhuvha.
Partnering with the National Youth Development Agency (NYDA), the challenge is expected to play a pivotal role by ensuring the entrepreneurs reach the pinnacle of their ICT businesses, or preside over executive positions.
“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,” said Mukhuvha.
According to Mukhuvha, this aligned with the Department of Higher Education and Training research in 2022, showing only 13% of women graduated with science and technology qualifications, while 2% entered the ICT industry.
“We believe that science, technology, engineering and mathematics (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 community needs, women can play a vital role in helping address the skills and employment issues that our nation faces,” said Mukhuvha.
The ten entrepreneurs will be mentored for four months by experts and business coaches to help grow their business acumen, marketing strategies, financial and 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,” said Mukhuvha.
The Star