FROM PILLAR TO POST investment in Africa while developing or revitalising existing value chains . On a contractual basis , such frameworks identify fiscal terms and outline processes while helping to reduce project negotiation times and providing assurance in case of disputes .
Tackling the AI divide
The United Nations Economic Commission for Africa , ECA and Google , have signed a landmark Memorandum of Understanding , to foster and accelerate digital transformation in Africa on the margins of the 2024 edition of the Africa Business Forum .
Other than South Africa , the MoU will operate across Ghana , Kenya , Ethiopia , Nigeria , Rwanda , Uganda , Zimbabwe , Senegal , Tanzania , Equatorial Guinea , Mozambique and South Sudan .
ECA ’ s Executive Secretary , Claver Gatete , acknowledged Google ’ s pivotal role in improving Africa ’ s connectivity infrastructure , supporting Africa ’ s innovators and entrepreneurs , and building digital capacity in emerging technologies through skills development for researchers , students and educators .
Africa , with the lowest Internet penetration rate globally , sees 63 % of its population without Internet access . The ECA is committed to closing digital divides by promoting infrastructure development and affordability , sound regulatory environment and fostering digital skills .
To tap into Africa ’ s digital transformation potential to meet the Sustainable Development Goals and Agenda 2063 , it is crucial that the continent ’ s youth – projected to account for nearly half of the global youth population by 2030 – are prepared for a digital future and the 4th Industrial Revolution .
Google will endeavour to partner with ECA to reach its target to enable 1 million startups to generate US $ 100bn in revenue by 2033 . Starting in 2024 , ECA , Camden Trust and Google will endeavour to upskill over 5,000 young African students and 200 teachers on computer science and robotics to support their participation in the World Robot Olympiad global competition and increase Africa ’ s representation .
Investing in fibre connectivity
Liquid Intelligent Technologies , a business of Cassava Technologies , a pan-African technology group , will receive R450 million in funding from the International Finance Corporation , IFC and Rand Merchant Bank , RMB each for its South African operations . The total investment of R900 million will support universal and affordable broadband access in the Eastern Cape Fibre Project .
“ The support and investment we have received from IFC and RMB underscores our collective commitment to advancing South Africa ’ s broadband connectivity and uplifting the communities in which we do business ,” said Hardy Pemhiwa , Group Chief Executive Officer , Liquid Intelligent Technologies .
The Eastern Cape is one of the least connected regions in South Africa . Only 65 % of households have Internet access , and only 5 % have access from home . This is twice as low as the average for South Africa , where 10 % of the total population has Internet access from home .
Since its inception , the Eastern Cape Fibre Project has been a transformative initiative . It has played a significant role in reiterating that Liquid South Africa is aligned with the government in meeting its 2030 NDP objective of 100 % broadband coverage .
The United Nations Economic Commission for Africa and Google signed a Memorandum of Understanding , to accelerate digital transformation in Africa .
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