APPLY: Google to empower African SMEs with AI skills

 “SMBs are the
backbone of Africa’s economy, yet many face challenges accessing funding and
developing the essential skills needed to grow their businesses,” Google said.

“According to the International Finance Corporation (IFC),
40% of formal SMBs in developing countries have an unmet funding need of $5.2
trillion annually.

“The Hustle Academy aims to address this gap by providing
comprehensive business education, mentorship, and networking opportunities.”

According to Google, since its launch in 2022, over 10,000
businesses have benefited from Hustle Academy.

“Participants who received grants nearly doubled their
success rate in accessing new funding sources beyond friends and family,
increasing from 11% to 20%,” Google said.

“The program has also spurred job creation, with an average
of 4 new jobs for every 10 businesses that graduated.”

Kristy Grant, head of B2B marketing, sub-Saharan Africa at
Google, said introducing AI to business will amplify impact and equip SMBs.

 “Artificial
intelligence (AI) holds immense potential for African small and medium-sized
businesses (SMBs), enabling them to drive innovation, increase efficiency, and
unlock new levels of economic growth,” Grant said.

“The Hustle Academy has supported over 10,000 businesses who
have gone ahead to raise funding and create jobs since inception.

“By incorporating AI into our curriculum, we aim to further
amplify this impact, equipping SMBs to harness AI technologies for improved
business performance and economic progress.”