All around the world, and notably in Africa, small businesses continue to find a home on TikTok.

It is because of this that we have embarked on a transformative partnership with Yunus Social Business (YSB), a committed non-profit organisation dedicated to nurturing 60 social businesses. With the objective of investing $1.5 million in selected social enterprises, we aim to empower these enterprises with the resources necessary to thrive. Additionally, we will provide training and mentorship on crucial aspects of brand building, sales/e-commerce strategies, and leveraging digital platforms for business success.

According to research conducted by YSB in 2021, micro, small and medium-sized enterprises (MSMEs) play a pivotal role in Kenya's economy, making up 98% of all businesses and employing 90% of the workforce. Social businesses - a small subset of MSMEs - focus on social missions at their core and work to benefit low-income and disadvantaged populations. The research indicates that these types of businesses hold the potential to contribute approximately 50% of the GDP over the next three years. It further states that social businesses alone have the potential to employ more than 400,000 individuals by 2030, provided they receive the necessary support.

However, many social businesses encounter significant difficulties in their growth and sustainability, including challenges related to obtaining financial capital and the availability of non-financial support, such as digital marketing skills training. This is where platforms such as ours come in.

In support of social businesses in Kenya, alongside the announcement of this partnership with YSB, we proudly announced our first investment in BURN Manufacturing with an injection of $450,000. The clean cookstoves produced by BURN use less fuel, cook faster, produce less fumes, and save families $150 per year. It is the only modern cookstove manufacturing facility in Africa that reduces greenhouse gas emissions by 80% and has already reached over 22.5 million people.

The $450,000 cheque was handed over by Cabinet Secretary Ministry of Youth Affairs, Creative Economy, and Sports Hon. Ababu Namwamba, EGH, who was the Chief Guest at the launch event. In his remarks, he highlighted the important role TikTok has played in the lives of users across Kenya: "TikTok has had an impact that extends beyond entertainment and social interaction; it has influenced various aspects of society, education, and philanthropy, positioning itself as an impact organisation by providing a platform for individuals from diverse backgrounds to share their stories, talents, and creativity. It has also empowered creators to express themselves, build communities, and find their voices, fostering inclusivity and diversity"

Other social enterprises that benefit from this partnership through digital skills training, resources, and brand-building mentorship include Ndivisi Enterprises and ED Partners Africa.

"This #TikTokEmpower partnership with YSB represents a transformative opportunity to empower entrepreneurs, address social challenges, and drive sustainable economic growth in Kenya and East Africa. We have seen the profound impact and real-world opportunity that TikTok brings to small businesses around the world, and we are proud to foster this entrepreneurial spirit and digital innovation in Africa.", said Fortune Mgwili-Sibanda, Director of Government Relations & Public Policy for Sub-Saharan Africa.

Yunus Social Business’s Regional Director for East Africa, Susan Ngalawa, notes that while the organisation has a strong legacy in social entrepreneurship models, this partnership signifies a strategic shift towards embracing digital innovation to empower aspiring entrepreneurs. "We believe that social businesses hold solutions to some of the most pressing problems of our time, but they cannot deliver or scale those solutions alone. This collaboration with TikTok is designed to help overcome specific social business challenges. For example, by providing them with direct financial support, upskilling their teams in digital marketing to strengthen their position in the digital economy, and giving them access to markets so that as the social businesses grow, their impact can grow as well. We look forward to this opportunity."

This partnership is a testament to our commitment to supporting Africa's entrepreneurial ecosystem, creating opportunities for individuals to make a difference in their communities. Together with Yunus Social Business, we are united in paving the way for a new generation of social entrepreneurs, leveraging the power of technology to drive positive change and sustainable economic growth in Kenya and East Africa.

We will also showcase at the 2023 Youth Konnect Africa Summit hosted at the Kenyatta International Convention Centre between 8 and 12 December.