R15bn investment in SMES on the continent, including a $50m fund for black-led technology start-ups, will give the tech giant increased access to 1.4-billion consumersGoogle on Wednesday announced the details of its $1bn fund to support small business in Africa, including a $50m programme to encourage and assist black-owned start-ups.
The group has been competing with Mark Zuckerberg’s Facebook to build an undersea cable and expand access to the internet in Africa. And since much of its revenue is derived from businesses advertising on its platforms, Google is now increasing its support of local businesses in the region. Alistair Mokoena
“The focus of these investments is on enabling fast, affordable internet access for more Africans; building helpful products; supporting entrepreneurship and small business; and helping non-profits to improve lives across Africa,” the company says.
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