Amazon Web Services (AWS) has partnered South Africa’s Department of Trade and Industry (dti) to incubate 100 black entrepreneurs as part of a ZAR365 millon (US$25 million) initiative.
Signed on the sidelines of the South Africa Investment Conference this week, the agreement will see AWS invest ZAR365 million (US$25 million) in the dti’s B-BBEE Equity Equivalent Investment Programme (AWS EEIP).
The fund will be invested in the development of 100 per cent black-owned South African small businesses within the ICT sector, with these businesses to be brought into the AWS supply chain and receive incubation.
Teresa Carlson, Amazon vice president: worldwide public sector, said the venture was a long-term project.
“I’m sure we’ll find many other ways to work together and prosper,” she said.