Google on Wednesday announced a plan to invest $1billion over 5 years to support Africa’s digital transformation.
The CEO of Google and Alphabet, Sundar Pichai, said the investment focuses on enabling fast, affordable internet access for more Africans; building helpful products; supporting entrepreneurship and small business; and helping nonprofits to improve lives across Africa.
He said this at Google’s first-ever Google for Africa event, held virtually and live-streamed. Enabling affordable internet access and building helpful products
According to him, Google is building global infrastructure to help bring faster internet to more people and lower connectivity costs.
He stated that the subsea cable Equiano will run through South Africa, Namibia, Nigeria and St Helena and connect the continent with Europe.
Also, through a Black Founders Fund, Google will invest in Black-led startups in Africa by providing cash awards and hands-on support.
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The Google West Africa Director, Juliet Ehimuan, also announced the launch of an Africa Investment Fund, which will see Google invest $50 million in start-ups and provide them with access to Google’s employees, network, and technologies to help them build meaningful products for their communities.
The CEO of Google and Alphabet, Sundar Pichai said, “We’ve made huge strides together over the past decade — but there’s more work to do to make the internet accessible, affordable and useful for every African. Today I’m excited to reaffirm our commitment to the continent through an investment of $1billion over five years to support Africa’s digital transformation to cover a range of initiatives from improved connectivity to investment in startups.”
The Managing Director for Google in Africa, Nitin Gajria, added, “I am so inspired by the innovative African tech startup scene. In the last year, we have seen more investment rounds into tech startups than ever before.
“I am of the firm belief that no one is better placed to solve Africa’s biggest problems than Africa’s young developers and startup founders. We look forward to deepening our partnership with, and support for, Africa’s innovators and entrepreneurs.”
