Google announce $1 billion investment in Africa to boost its digital presence in Africa.
Tech giant Google has confirmed it will invest one billion American dollars in Africa to support the continents digital transformation. The company said it will include landing a subsea cable into Africa. The subsea cable network will be a catalyst for a faster Internet speed. The investment is also said to create a space for small and medium scale enterprises, SME’s, to enjoy low interest loans, to support startups and individuals through skills training and equity investment.
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“we have made huge strides together over the last 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 $1 billion over five years to support Africa’s digital transformation, to cover a range of initiatives from improved connectivity to investment startups” Chief Executive Officer of Google and Alphabet, Sundar Pichai revealed
Google says this project is in quest to create over 1.7 million jobs in South Africa and Nigeria by 2025. Director for Google Africa, Nitin Gajria the investment will lead to a 21 percent reduction in Internet prices and will increase speed.
“This will lead to a 21 percent reduction in Internet prices and increase Internet speed in Nigeria and almost triple in South Africa” he said
Countries like Uganda, Kenya, Ghana etc are all beneficiaries