Google: a Billion Dollars of Investment in 5 Years for Africa
Google on Wednesday announced a five-year billion dollar investment plan for the African continent, promising the young population in this market, faster and more affordable internet access as well as financial support for local startups.
MA third of Africa's 1.3 billion people are currently connected to high-speed internet, according to the World Bank. But the continent, where nearly half of the population is under 18, is a promising market.
Highlighting "huge progress" in connectivity over the past decade, the CEO of US tech giant Sundar Pichai said in a statement that "there is still work to be done to make the internet accessible, affordable and useful for every African ”.
"I am delighted to reaffirm our commitment to the continent by investing $ 1 billion over five years to support Africa's digital transformation," he continued.
The investment will include the installation of the Equiano submarine cable, intended to carry high speed internet across South Africa, Namibia, Nigeria, Saint Helena and will link the continent to Europe.
The program also provides for the allocation of low-rate loans to small local businesses, as well as equity investments in African startups.
Calling himself "inspired by the innovative scene of African tech startups," Google Africa CEO Nitin Gajria said he was "firmly convinced that no one is better placed to solve Africa's biggest problems than young developers and creators of startups ”.
Since 2017, Google recalls having trained six million young Africans in digital technology and having allowed 100 million Africans to access the internet for the first time thanks to its Android system.
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