According to the CEO, Google plans to put in $1 billion each year.
The company providing free digital courses is ready to financially elevate African entrepreneurs and small business owners as well as non-profits. This also includes enabling fast and affordable internet access for more Africans and building helpful digital products.
As announced, the company is building the framework in carrying out the massive project erecting a high-tech infrastructure to help bring faster internet to more people and at a lower connectivity costs.
This is not the first time Google would be putting money where its mouth is. There was a $50 million funding for startups via the African Investment Fund program , courtesy of Google.
This time they say it is equity-based as they plan to also provide low-interest loans for small businesses in collaboration with NGOs. NGOs will also receive $40 million support to continue improving lives across the continent.
By Elijah Christopher