Google pledges US$1bln to support digital transformation in Africa
During the first Google for Africa virtual event, Google and Alphabet chief executive officer Sundar Pichai declared that Google will invest US$1 billion over the next 5 years to support digital transformation in Africa. The investment will be provided to improve access to the internet and digital products, support startups, empower businesses, and support non-profits. To this aim, the company unveiled a $50 million Africa Investment Fund that will provide startups with access to Google employees, network, and technology to help them create meaningful products for their communities. Additionally, a US$10 million fund, in cooperation with Kiva, will be deployed to provide low-interest loans to small businesses and entrepreneurs in Ghana, Kenya, Nigeria, and South Africa to help them cope with the COVID-19 crisis. Google plans $40 million in financial support for nonprofits working to improve lives in Africa.