Google to invest $1 billion in Africa for cheaper, faster internet
U.S. tech giants Google says it plans to invest $1 billion to ensure that Africans have access to cheap and fast internet in the next five years.
Alphabet Inc, an arm of Google, made the announcement at the virtual launch of an Africa Investment Fund.
The tech giant said the investment fund will empower African startups with $50 million, giving them access to its employees, network and technologies.
Speaking on the investment fund, the managing director of Google in Africa Nitin Gajria said the organisation will target startups involved in fintech, e-commerce and local language content amongst others.
“We are looking at areas that may have some strategic overlap with Google and where Google could potentially add value in partnering with some of these startups,” Gajria in an interview with Reuters said.
The tech company also disclosed that it will be partnering with Kiva, a non-profit organisation to provide $10 million in low-interest loans to help small businesses and entrepreneurs in Ghana, Kenya, Nigeria and South Africa bounce back from hardship created by the outbreak of COVID-19.
Mr Gajria also revealed that an undersea cable was currently being built to link Africa and Europe.
He said the cable link would come into service by the second half of next year and is expected to increase internet speeds by five times and lower data costs by up to 21% in Nigeria and South Africa.
This development comes as a report by Cyber security firm Surfshark ranked Nigeria’s internet speed among the slowest yet most expensive in the world.
According to the report, the internet is “alarmingly pricey” for many Nigerians and many of those who have had to acquire internet working more than 35 hours to afford their internet expenses in Nigeria.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
NationWide
Nigeria positioned to power clean energy Future: Tinubu
Mr Tinubu expressed his firm commitment to improve the developmental partnership between the European Union and Nigeria.
Africa
Benin, Liberia, Sierra Leone roll out malaria vaccines
With the announcement on World Malaria Day, the number of African countries incorporating the vaccines into their childhood immunisation programmes increased to eight.
NationWide
Group urges FG to decongest custodial centres after Suleja jailbreak
”We also call on the public to pay more attention to issues concerning corrections in Nigeria.”
Politics
PDP unveils 200-member campaign council for Edo 2024 guber election
The advisory council has seven eminent members of the state.
Africa
ECOWAS moves to tackle drug abuse in Sierra Leone, other countries
ECOWAS said the workshop was also to support efforts to tackle drug abuse and provide resources and strategies for member states, particularly Sierra Leone.
Lagos
FG to resume resurfacing of Third Mainland Bridge: Official
She said that the exact dates for the renewed construction would be announced soon.