Google has made the first investment from the $50 million Investment Fund for Africa. The investment has gone to Uganda's SafeBoda, that aims to modernize transportation. This investment is part of the $1 billion investment of Google in African tech companies over the next five years.
Alphabet CEO Sundar Pichai announced during Google for Africa event in October that Google will provide $1 billion in “tech-led initiatives” targeted at early- and growth-stage startups on the continent.
Google helped the African start-ups grow through its Google for Startups Accelerator Africa programme prior to establishing the Fund.
This programme has supported over 80 start-ups in seed to Series A stages with equity-free mentorship and resources. These 80 start-ups raised over $100 million in v...