Previous Story
$1 Billion to be Capitalized in Africa by Google in a bid to enhance Internet access to Finance startups concentrated on Africa’s Digital Transformation
Posted On 08 Oct 2021
By Abdul Rahman Bangura–
Photo Credit: Unsplash
NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- The search engine giant, a unit of Alphabet Inc., inaugurated the Africa Investment Fund, that will subsidize $50 million in startups and empower those corporations with access to Google employees, its network, and other technologies.
In partnership with the nonprofit organization Kiva, Google announced, it will contribute $10 million in low-interest loans to enable small business entrepreneurs in Ghana, Kenya, Nigeria, and South Africa get economic dilemmas effected by the COVID-19 pandemic.
“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,” Google and Alphabet CEO Sundar Pichai announced in a statement October 06th, 2021.
The statement shows up as Google works toward assembling an undersea cable link to Africa and Europe, which will give rise to faster internet access and reduce connectivity costs in nations like Nigeria and South Africa, according to sources.
Google’s additional activities on the African landmass comprise partnering in 2020 with Kenya-based company Safaricom to enable customers to purchase 4G-enabled phones in installments. That program is anticipated to be broadened across the mainland of Africa.
For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent
Bravo to google, hope other high end tech companies emulate what you doing for our great Continent. Nairobi KENYA. Paul
Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com
Happy new unlimited subscriber of new Africa business news. Thank you. Berlin in Germany. Frank
Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com
Am a subscriber of your online newspaper and recommend it to my friends and family. Abuja Nigeria. Samuel
Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com
Thank you for the daily newsletters. You are one of the best online newspaper. Juba South Sudan. Grace
Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com
The Bangura, thank you always for the reports, with your teams. Paris in France. James
Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com
Love your daily newsletters. Thank you for covering the whole Continent of Afrika. Luanda in Angola. Kim
Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com