Google’s first investment from its Africa Investment Fund has gone to SafeBoda, a transport startup with operations in Uganda & Nigeria.
The Investment Fund aims at SafeBoda’s growth in Uganda and Nigeria and to offer new payment and financial services solutions for its expanding set of customers.
The specific value of Google’s investment in SafeBoda (out of the $50 million funds) was not provided in the statement issued by Google.
On the other hand, the Africa Investment Fund is part of a broader plan to invest $1 billion over 5 years to support digital transformation in Africa.
Through this fund, Google will invest $50M in startups and provide them with access to Google’s employees, network, and technologies to help them build impactful products for their communities.
– Business day