Google on Wednesday, October, 7, announced a plan to invest $1billion (Ksh 110 billion) over 5 years to support Africa’s digital transformation.
The investment focuses on enabling fast, affordable internet access for more Africans; building helpful products; supporting entrepreneurship and small business; and helping nonprofits to improve lives across Africa.
The announcement was made at Google’s first-ever Google for Africa event, held virtually and livestreamed.
“We’ve made huge strides together over the past decade -- but there’s more work to do to make the internet accessible, affordable, and useful for every African.
"Today I’m excited to reaffirm our commitment to the continent through an investment of $1B 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.
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Sundar Pichai, CEO of Google and Alphabet.
The planned $1billion investment will include enabling affordable internet access and building helpful products.
In Kenya, Google has collaborated with Safaricom to support the launch of the first “Device Financing” plan and will expand this initiative across Africa with partners like Airtel, MKOPA, MTN, Orange, Transsion Holdings and Vodacom, and more.
These partnerships will help millions of first-time smartphone users gain access to quality, affordable Android smartphones.
Through a Black Founders Fund, Google will invest in Black-led startups in Africa by providing cash awards and hands-on support.
In collaboration with the non-profit organisation Kiva, Google is providing $10M 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.
