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Google Set To Invest US$1 Billion In Africa

Google Set To Invest US$1 Billion In Africa

Google has revealed that it plans to invest US$1 billion in Africa over the next five years.

Channel News Asia reports that this will ensure fast and cheaper access to the internet and will back startups to support the continent’s digital transformation.

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This announcement was made by the Unit of US tech company Alphabet Inc, at a virtual event during the launch of an Africa Investment Fund.

Channel News Asia reports that Africa Investment Fund will be used to invest US$50 million in startups adding that it will provide them access to its employees, network, and technologies.

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Channel News Asia, in collaboration with a non-profit organisation Kiva, says Google will also provide US$10 million in low-interest loans to help small businesses and entrepreneurs in Ghana, Kenya, Nigeria, and South Africa get through the economic hardship created by COVID-19. Information Guide Nigeria

CEO of Google and Alphabet, Sundar Pichai said, “Today I’m excited to reaffirm our commitment to the continent through an investment of US$1 billion over five years to support Africa’s digital transformation to cover a range of initiatives from improved connectivity to investment in startups”.

In addition, the company has been building an undersea cable to link Africa and Europe, which it says will bring faster internet and lower connectivity costs. JAMB Result

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Idongesit Akpa-Ayang

Idongesit is a graduate of Communication Arts, University of Uyo. Currently working as a news reporter at InfoGuide Nigeria.

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