Many South African SMEs face serious hurdles like lack of financing, limited market access, and skills shortages. These challenges slow their growth in the ICT sector. Samsung is stepping up its support to tackle these problems head-on.

On July 21, Samsung, the South Korean electronics giant, announced a new phase of its Enterprise Equity Investment Program (EEIP). The program runs in partnership with South Africa’s Department of Trade, Industry and Competition (DTIC). This phase targets Black-owned SMEs in information and communications technology, focusing especially on emerging startups and women entrepreneurs.

Nicky Beukes, EEIP project director at Samsung South Africa, said, “This is our way of ensuring that we empower South Africa’s digital future by helping ICT entrepreneurs thrive as we deepen our commitment and collaboration with DTIC[...] As Samsung, we also understand how much entrepreneurship contributes to job creation, community development and how it fosters innovation and drives economic growth.”

Launched in 2019, the program aligns with South Africa’s National Development Plan (NDP) for 2030 and the Black Economic Empowerment policy (B-BBEE). It funds with 280 million rand (about $15.9 million) to address key barriers faced by small businesses: limited capital, a shortage of technical skills, difficult market integration, and digital risks.

For this third phase, Samsung broadens eligibility to include more early-stage startups. It also boosts female participation in technology sectors. This move aims to build a more representative digital ecosystem and unlock innovation potential in traditionally underrepresented groups.

The program offers intensive training, mentoring, management support, and focused grants to help SMEs grow. Recently, several supported SMEs have established themselves in repair services and technology hubs. Through the EEIP, Samsung hopes to drive a resilient and inclusive digital economy in South Africa.

This article was initially published in English by Samira Njoya
Edited in English by Ange Jason Quenum