HomeBusinessGoogle plans to invest $1 billion into Africa within the next five...

Google plans to invest $1 billion into Africa within the next five years.

Google has announced that it will be spending $1billion in Africa over the coming five years, it announced Wednesday. The company is aiming to improve the connectivity of Africa’s internet and assist entrepreneurs.

In its inaugural Google for Africa event in April, the company created the Africa Investment Fund designed to assist start-ups by allowing them access to its employees as well as technology, as previously reported by Reuters.

It’s also working with the non-profit Kiva to provide $10 million in low-interest loans to small-scale businesses that are located in Ghana, Kenya, Nigeria and South Africa endure the pandemic.

“Increasingly we are seeing innovation begin in Africa, and then spread throughout the world. For example, people in Africa were among the first to access the internet through a phone rather than a computer. And mobile money was ubiquitous in Kenya before it was adopted by the world,” SEO Sundar Pichai told the event online. “This momentum will only increase as 300 million people come online in Africa over the next five years.”

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