Google has on Wednesday, October 6, 2021, announced that it will invest USD One billion in Africa, over the next 5 years to boost internet access and support entrepreneurship across the continent. The U.S tech base company announced this plan at a virtual event where it launched an Africa Investment Fund, through which it will invest USD 50 million in startups, providing them with access to its employees, network and technologies. According to Nitin Gajria, the managing director for Google in Africa, this investment made by the company will be targeting fintech, e-commerce and local content. “We are looking for areas that may have some strategic overlap with Google and where Google could potentially add value in partnering with some of these startups,” Gajria stated. Small businesses in Africa often struggle to get capital because they lack the necessary collateral required by banks in case they default.