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Tech

Google Confirms $1 Billion Investment Into Africa

Google Confirms $1 Billion Investment Into Africa

  • Google has announced plans to invest $1 billion into Africa within the next five years
  • The stated funds is going to be put towards improving the continent’s connectivity and support startups
  • The tech giant recently launched the investment fund that will give African tech startups access to employees and tech

Tech giant Google has announced plans to invest over $1 billion into Africa within the next five years to improve the continent’s internet connectivity and support startups.

Google

The tech investment was announced during its first Google for Africa event on Wednesday.

An investment Fund was launched during the event to help African startups by giving them access to business and tech.

Asides from that, the tech powerhouse will partner with nonprofit organization Kiva to offer $10 million low-interest loans to help small businesses in Ghana, Kenya, Nigeria, and South Africa recover from the effect of the pandemic.

During the virtual event, SEO Sundar Pichai praised Africa’s contribution to the rest of the world in the form of innovation.

“Increasingly we are seeing innovation begin in Africa, and then spread throughout the world. For example, people in Africa were among the first to access the internet through a phone rather than a computer.”

Read also: Tesla Worker Wins N56.3b After Suing Elon Musk

Pichai said that he expects this momentum to increase as more people come online in Africa within the next five years.

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