Google plans to take a position $1 billion (roughly Rs. 7,500 crores) in Africa over the subsequent 5 years to make sure entry to quick and cheaper web and can again startups to assist the continent’s digital transformation, it stated on Wednesday.
The unit of US tech firm Alphabet made the announcement at a digital occasion the place it launched an Africa Investment Fund, via which it should make investments $50 million (roughly Rs. 375 crores) in startups, offering them with entry to its staff, community and applied sciences.
In collaboration with not-for-profit organisation Kiva, Google may even present $10 million (roughly Rs. 75 crores) in low curiosity loans to assist small companies and entrepreneurs in Ghana, Kenya, Nigeria and South Africa get via the financial hardship created by COVID-19.
“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,” stated Sundar Pichai, CEO of Google and Alphabet.
Google stated a programme pioneered final yr in Kenya in partnership with Safaricom that enables prospects to pay for 4G-enabled telephones in installments can be expanded throughout the continent with cell operators resembling MTN, Orange and Vodacom.
The firm has been constructing an undersea cable to hyperlink Africa and Europe, which it says will convey sooner web and decrease connectivity prices.
© Thomson Reuters 2021
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