Sundar Pichai, Google’s Chief Executive Officer has said that the company is committed to increase its investment to the tune of US$1 billion in Africa in the next five years.
Meanwhile, the largest economy in Africa, with nominal GDP ($Billion) 510.588 ahead of Egypt (435.621), South Africa (426.166) and Algeria (193,601), will be one of the beneficiaries. This was disclosed during the 2021’s Google for Africa, which held on October 6, 2022.
During an online media roundtable chat after Google for Africa event, the Director of Google Cloud Africa, Niral Patel added that Google has spent well above $200million in Nigeria and across Africa in the last one year. Patel, who stated he could not disclose the exact amount the company had invested, said Google had invested well over 20 percent of its commitment on the continent. He added that its subsea cable, Equiano, would launch before the end of 2022.
Equiano, which is one of Google’s most significant investments in Africa, will establish a new high-capacity internet connection between the continent and Europe. An impact assessment study by Africa Practice and Genesis Analytics stated that when the cable becomes fully operational, it will significantly accelerate Nigeria’s digital transformation. It is expected to increase internet speeds by a factor of six, reduce internet retail prices by 21 per cent, and increase internet penetration by six percentage points.
Ayodelé is a Lagos-based journalist and the Content and Editorial Coordinator at Meiza. All around the megacity, I am steering diverse lifestyle magazine audiences with ingenious hacks and insights that spur fast, informed decisions in their busy lives.
