admin
As Africa’s investment potential continues to rise steadily, global tech firms have taken notice and initiated investments across the continent.
Here are 10 such companies investing in various industries in Africa:
Opera: Renowned for its web browser, Norwegian software developer Opera empowers over 350 million internet users to explore and engage with content and services. Recently, the developer unveiled intentions to inject $100 million into Africa’s digital economy over the upcoming two years, aiming to strengthen its foothold in the continent’s most promising market.
Microsoft: Among the pioneers in international investments in Africa, Microsoft initiated the 4Afrika initiative aimed at training African youth. Recently, the company unveiled plans to establish two new cloud data centers in South Africa, facilitating the delivery of Microsoft Cloud services to the African market directly from local facilities on the continent.
Google: Google, in partnership with three other entities, is launching CSquared, an ICT infrastructure investment initiative. Joining forces with pan-African ICT-focused private equity firm Convergence Partners, the International Finance Corporation (IFC), and Japan’s second-largest trading house, Mitsui & Co, Google has pledged to invest a combined $100 million in this broadband infrastructure project. The initiative aims to enhance internet capabilities in African cities, ensuring fast and reliable internet access for communities across the continent.
Uber: A transportation service application enabling users to request rides to their desired destinations. Operating globally, Uber extends its services to several African nations including South Africa, Tanzania, and Uganda. Additionally, it offers lucrative work prospects, allowing individuals to register as independent contractor Uber drivers.
Facebook: Mark Zuckerberg, the CEO of Facebook, has been actively investing in Africa. Apart from funding various trials involving internet delivery through solar-powered drones, Facebook is working towards completing the installation of 500 miles of fiber cable in Uganda by the year’s end. This infrastructure is expected to extend internet access to over three million people, according to Facebook’s projections.
Airbnb: A community-driven platform enabling individuals to list, explore, and reserve distinctive accommodations worldwide, either online or via mobile devices. The service has garnered significant popularity, with hosts in Africa welcoming 1.2 million guests to the continent in the past year. These hosts collectively earned $139 million in host income, marking a remarkable 110 percent growth over the previous year.
Orange Telecom: A prominent network operator and provider of digital solutions in 29 countries, serving 263 million customers. The company has unveiled its latest startup investment initiative, targeting innovative African startups continent-wide. With a dedicated investment pool of $56 million, half of the funds will be allocated indirectly to the digital sector, while the remaining portion will support a new endeavor named Orange Digital Ventures Africa.
IBM: The American technology corporation, International Business Machines Corporation (IBM), specializes in manufacturing and marketing computer hardware, middleware, software, and providing hosting and consulting services. In Nairobi, the company initiated iHub, an innovation hub and hacker space catering to the local technology community. Additionally, IBM has pledged to invest $61 million over the ensuing decade in a new laboratory at WITS University’s Tshimogolong Precinct tech hub in Johannesburg.
Greenwish Partners: An Australian renewable energy firm specializing in clean-energy technologies. The company recently unveiled intentions to allocate $800 million towards the construction of solar-powered telecom towers across Africa, in collaboration with telecoms provider Orange. The initiative will commence with the deployment of 250 towers in the Democratic Republic of Congo this year, with future goals set at 3,000 towers spanning multiple countries by 2018, and 10,000 by 2020.
Cisco: An American multinational technology conglomerate specializing in the development, manufacturing, and sale of networking hardware, telecommunications equipment, and other high-technology services and products. The company is making investments in Africa through its newly launched Challenge Up! initiative, conducted in partnership with Intel and Deutsche Telekom.
Emmanuel Ojukwu
