Google to Invest $1Bln in Africa in 5 Years

A woman makes copies at the Google Artificial Intelligence (AI) office in Accra on April 10, 2019. – This centre is the first AI centre established in Africa by Google. (Photo by CRISTINA ALDEHUELA / AFP)

Google said on Wednesday that it plans to invest $1 billion in Africa over the next five years to ensure access to fast and affordable internet and that it will back startups to help the continent’s digital transformation.

The announcement was made at a virtual event where the unit of U.S. tech company Alphabet announced the launch of an Africa Investment Fund, through which it will invest $50 million in startups and provide them with access to its employees, network, and technologies.

In addition, Google will provide $10 million in low-interest loans in collaboration with the non-profit organization Kiva to help small businesses and entrepreneurs in Ghana, Kenya, Nigeria, and South Africa overcome the economic hardship caused by COVID-19.

Your Friends Also Read:  AFCON Trophy Goes Missing in Egypt

“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,” said Sundar Pichai, CEO of Google and Alphabet.

Google announced that a program launched last year in Kenya in collaboration with Safaricom that allows customers to pay for 4G-enabled phones in instalments would be expanded across the continent with mobile operators including MTN, Orange, and Vodacom.

The company is constructing an undersea cable that will connect Africa and Europe, bringing faster internet and lower connectivity costs.

Your Friends Also Read:  Egypt, South Korea Discuss Cooperation in Tourism

In 2017, Google aims to train 10 million people in Africa in online skills over the next five years in an effort to make them more employable.

The U.S. technology giant also hopes to train 100,000 software developers in Nigeria, Kenya and South Africa. Google’s pledge at the time marked an expansion of an initiative it launched in April 2016 to train young Africans in digital skills.

All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from News Central TV.
Your Friends Also Read:  Congo Moves to Suspend Log Exports to Reduce Pressure on Forests



Leave a Reply

Previous Article

Utamaduni Day: Kenya Declares Monday Public Holiday

Next Article

11 Die in Central African Republic Rebel Attack

Related Posts
Powered by Live Score & Live Score App