Google plans to invest $1 billion (about Rs 7,500 crore) over the next five years to ensure access to fast and cheap internet in Africa and will support startups to support the continent’s digital transformation, it said. said on Wednesday.
unit of US tech company Alphabet Announced at a virtual event, where it launched an Africa Investment Fund, through which it will invest $50 million (about Rs 375 crore) in startups, giving them access to their employees, networks and technologies.
in collaboration with a non-profit organization kivaGoogle will also provide $10 million (about Rs 75 crore) in low-interest loans to help small businesses and entrepreneurs in Ghana, Kenya, Nigeria and South Africa recover from economic hardship. COVID-19.
“Today I am excited to reaffirm my commitment to the continent through a $1 billion investment over five years to support Africa’s digital transformation, with a range of initiatives ranging from improved connectivity to investments in startups ,” he said. Sundar Pichai, CEO Google and alphabet.
Google said a program was pioneered in partnership in Kenya last year safaricom Which allows customers to pay for 4G-enabled phones in installments, will be expanded across the continent with mobile operators such as mtn, Orange And VodaCom.
The company is building an undersea cable to connect Africa and Europe, which it says will lead to faster internet and lower connectivity costs.
© Thomson Reuters 2021
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