Can the new Nairobi International Finance Centre (NIFC) compete with Johannesburg and Dubai to help finance trade and industry in East Africa ... and beyond? Acting CEO Oscar Njuguna believes that there is plenty of room for everyone.
The investment “will support the continent’s digital transformation,” Pichai said in a pre-recorded video released by the company. Google will also invest $50m in black-led start-ups, support non-profit organisations, and wants to partner with African governments, policymakers and businesses, he said.
Out of Africa’s population of 1.3 billion, an estimated 780 million people do not have access to the Internet. US big tech companies like Google and Facebook are backing cabling projects designed to improve the quantity and speed of African Internet access. Facebook is backing the 37,000km 2Africa cable, which will connect the continent with Asia and Europe. The cable will be the longest subsea cable system in the world when completed, Facebook says.