As a way of giving thousands of Africans access to fast and cheaper internet, Google has promised to invest $1 billion in Africa over the next five years that will back startups and support the continent’s digital transformation.
A unit of US tech company Alphabet Inc, parent company of Google, made the announcement at a virtual event where it launched an Africa Investment Fund, through which it will invest $50 million in startups, providing them with access to its employees, network and technologies.
In collaboration with not-for-profit organisation Kiva, Google will also provide $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.
CEO of Google and Alphabet, Sundar Pichai, said, “Today I’m excited to reaffirm our commitment to the continent through an investment of $1 billion over five years to support Africa’s digital transformation to cover a range of initiatives from improved connectivity to investment in startups.”
Google said a programme pioneered last year in Kenya in partnership with Safaricom that allows customers to pay for 4G-enabled phones in instalments would be expanded across the continent with mobile operators such as MTN, Orange and Vodacom.
The company has been building an undersea cable to link Africa and Europe, which it says will bring faster internet and lower connectivity costs.
Internet reliability is a problem in Africa and less than a third of the continent’s 1.3 billion people are connected to broadband, and a continent where nearly half the population is under 18, is a promising market for google.
Google’s investment will support digital transformation by ensuring improved connectivity and access and the funds will, among other things, go towards infrastructure development including the Equiano subsea cable that will connect South Africa, Namibia, Nigeria and St Helena with Europe.
The deal expands Google’s pledge announced four years ago to train around 10 million young Africans and small-scale businesses in digital skills.
Omotayo Araoye
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