Google has announced its plan to invest $1bn (about R15bn) over five years to support digital transformation in Africa.
Google also announced the launch of an Africa Investment Fund through which the company will invest $50m in start-ups and provide them with access to Google’s employees, network and technologies “to help them build meaningful products for their communities”.
The company, in collaboration with Kiva, a non-profit organisation, is providing $10m in low-interest loans to help small businesses and entrepreneurs in Ghana, Kenya, Nigeria and SA get through the economic hardship created by the coronavirus pandemic. “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. I’m excited to reaffirm our commitment to the continent through an investment of $1bn over five years to support Africa’s digital transformation to cover a range of initiatives from improved connectivity to investment in startups,” said Google and Alphabet CEO Sundar Pichai.
Nitin Gajria, managing director for Google in Africa, said: “I am so inspired by the innovative African tech start-up scene. In the past year, we have seen more investment rounds into tech start-ups than ever before. I am of the firm belief that no-one is better placed to solve Africa’s biggest problems than Africa’s young developers and start-up founders. We look forward to deepening our partnership with, and support for, Africa’s innovators and entrepreneurs.
Small business development minister Stella Ndabeni-Abrahams said : “I am happy to note Google has been active in supporting small to medium enterprises, dedicating even more resources to this sector, since the start of the Covid-19 pandemic. In the past 12 months, Google has helped close to 500,000 African businesses get online and reach new customers.”
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Southern Africa considers extending Mozambique military missionSouth Africa has the largest contingent of deployed soldiers, with about 1,500 troops in Mozambique.
Read more »
Reigning Miss Universe Andrea Meza to judge Miss South Africa 2021 | ChannelReigning Miss Universe Andrea Meza flies to Cape Town this month to take her place on the selection panel for the spectacular Miss South Africa 2021 finale.
Read more »
World Netball announces Proteas captain Bongi Msomi as ambassador for AfricaInspirational Proteas captain Bongi Msomi has been named as the official athlete ambassador for the Africa region by World Netball (WN).
Read more »
UK red list revised and South Africa remains an 'infectious' destinationAt the moment, countries on the approved list of countries able to enter and exit the UK are mostly situated in Europe.
Read more »
Q&A: UK’s Africa minister Vicky Ford says Britain is hoping for Eskom dealFord, the minister responsible for Africa within the UK’s Foreign, Commonwealth and Development Office, was in SA last week
Read more »
Suicide crisis soars in South Africa - The Mail & GuardianThere are few programmes that deal with mental illness, so the cycle can continue for generations.
Read more »