Google said on Wednesday it plans to invest $ 1 billion (approximately Rs 7,500 crore) in Africa over the next five years to ensure faster and cheaper internet access and to support start-ups to support the continent’s digital transformation.
The American technology company Alphabet announced at a virtual event where it launched the Africa Investment Fund, which initially invested $ 50 million (approximately Rs. 375 crore) to provide access to its staff, network and technology.
Together with Kiva, a non-profit organization, Google is offering $ 10 million (approximately Rs. 75 crore) in low interest rates to tackle the economic crisis created by small businesses and entrepreneurs in Ghana, Kenya, Nigeria and South Africa. COVID-19.
“I’m pleased to reaffirm our commitment to the continent over the next five years by investing $ 1 billion to support Africa’s digital transformation, which includes many initiatives, from advanced connectivity to initial investment,” said Google CEO Sundar Pichai. letters.
Google announced last year that it was expanding across the continent in Kenya with mobile operators such as MTN, Orange and Vodacom, in collaboration with Safaricom to allow 4G-enabled phones to be paid in installments.
The company is developing an undersea cable to connect Africa and Europe, which it says will bring faster internet and lower connection costs.
© Thomson Reuters 2021