While waiting for the presentation of its new smartphones on October 19, Google is increasing the number of other announcements. For example, in a previous article, we discussed the various initiatives announced by Google so that its products can help Internet users have a greener lifestyle. And recently, at an event called Google for Africa, the firm announced a significant investment of $ 1 billion in Africa.
The fact that this initiative was announced by Google CEO Sundar Pichai in person shows how important the continent is to the company. Indeed, while the European and North American markets are saturated today, the developing countries represent an important growth opportunity for the digital giants.
In his announcement, Sundar Pichai also indicates that in the next five years, 300 million new Internet users will be added in Africa. “Many of them are young, creative and enterprising, and they are ready to generate new innovations and opportunities throughout the region”, also said the boss of Google.
“It has been amazing to see the rapid pace of change in such a short space of time and to be a partner in this journey. Since we opened our first offices in Africa, we have enabled 100 million Africans to access the Internet for the first time and have equipped millions of businesses and creators with digital tools ”, he added.
Submarine cable, investment for startups and low interest loans!
And precisely, Google’s billion dollars will be invested over five years. This initiative will have four objectives: reduce the cost of the internet, support the digital transformation of businesses, support entrepreneurs, and help NGOs that improve the living conditions of Africans.
Among Google’s big projects in Africa is a new submarine cable. According to the explanations of the TechCrunch site, this cable will cross South Africa, Namibia, Nigeria and Saint Helena, in order to link Africa to Europe. This will have a capacity 20 times higher than the last cable built for the continent. This cable should have an impact on the price of the internet connection in many countries.
Google’s fund will also invest $ 50 million in African startups. In addition to the investment, the beneficiaries will also be able to benefit from the support of Google through its employees and its technologies. $ 10 million will also be used to provide low-interest loans for small businesses that have been affected by the COVID-19 pandemic.