Search giant, Google is to invest $1 billion over the next five years in Nigeria, South Africa, Kenya and others for the region’s digital transformation.
The planned $1 billion investment, announced by Chief Executive Officer of Google and Alphabet, Sundar Pichai, announcement was made at the first ever Google for Africa event, held virtually and livestreamed.
The investment will help in enabling affordable internet access and building helpful products; boosts entrepreneurship and technology; empowering businesses, which embark on digital transformation, and renewed funding for nonprofits in the region.
Pichai explained that Google is building global infrastructure to help bring faster internet to more people and lower connectivity costs.
According to him, the subsea cable Equiano will run through South Africa, Namibia, Nigeria and St Helena and connect the continent with Europe.
The Google CEO, who said Internet access is also hampered by the affordability of smartphones, said Android has developed a device locking technology as part of the Android platform that will enable partners to offer financed devices.
He also announced the launch of an Africa Investment Fund through which the company will invest $50 million in startups and provide them access to Google’s employees, network, and technologies to help them build meaningful products for their communities.
In collaboration with the non-profit organisation, Kiva, Pichar informed that Google is providing $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.
