Google announce SafeBoda as dia first investment receiver for Africa $1bn fund

Published 16 December 2021

Google announce dia first investment from di Africa Investment Fund wey CEO of Google and Alphabet, Sundar Pichai launch during Google for Africa launch for October.

Dis first investment be for SafeBoda, one venture-backed company wit investors wey include GoVentures (GoJek), Allianz X, Unbound, Beenext and Justin Kan.

For inside statement wey di di Nigeria Agency Lead Nosa Iyamu release, dis go helep drive SafeBoda growth for Uganda and Nigeria, scale up dia transportation-led app.

E go help to offer new payment and financial service solution for dia set of customers: passengers, drivers and merchants wey dey grow.

One of di co-founders Ricky Rapa Thomson, wey be former boda driver for Kampala, say im sabi say" we be di lifeblood of Africa cities and we power economic development.

E say SafeBoda dey happy say leading global companies like Google see di importance of backing start-ups wey dey work towards dis goals."

Managing Director for Google in Africa, Nitin Gajria add say "I dey happy about our first investment from di $50M Africa Investment Fund wey we announce two months ago .

" Dis na part of our ongoing commitment to tech startups for Africa. I get firm belief say no one dey better placed to solve Africa biggest problems dan Africa young developers and entrepreneurs. We dey look forward to announce subsequent investments for oda startups."

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Wetin SafeBoda dey do?

SafeBoda be one transport app wey dem launched for 2017 to connect passengers to dia community of safer and trusted drivers.

Since den SafeBoda don grow to serve over 1 million customers, expand dia transportation-led super app wey dey offer rides, parcel delivery, food and shop, payments, savings and oda financial services.

Di company deyBased for Uganda & Nigeria, SafeBoda be one venture backed company wit investors wey include oda ogbonge investors wey.

SafeBoda don also work wit number of organizations to helep for road safety and financial inclusion.

Some of di companies include Shell Foundation, United Nations Capital Development Fund (UNCDF), UN Women and the Global Road Safety Partnership, plus odas.

Di company get more dan 200 employees, more dan 25,000 drivers for im community and don complete over 40 million orders.

SafeBoda say dem dey grow dia team for both Uganda and Nigeria.

About di one billion dollar investment

Internet technology giant, Google bin announce di ogbonge investment of $1 billion for Africa for October dis year.

For one Google for Africa event, oga of Alphabet Google, Sundar Pichai bin say di investment go dey for over five years.

And e go cover initiatives from better connectivity to investment in start-ups as e go help boost di continent digital transformation.

E say di investment go be di biggest investment by di US technology company for Africa. Google say di plan na to chook di money inside projects wey go berekete across Africa continent, including Ghana, Kenya, Nigeria and South Africa.

West Africa tok-tok person Taiwo Kola-Ogunlade bin tell BBC pidgin say young pipo go benefit past for di investment as 70 percent of Africa young pipo dey below 25 years of age. So young pipo wey get small business go fit take advantage of di opportunity wen e start.

Wetin dey di investment

Google dey build global infrastructure wey go help bring faster internet to more pipo plus lower connectivity money and one subsea cable Equiano wey go run through South Africa, Namibia, Nigeria and St Helena and connect di continent wit Europe.

Google go expand one "Device Financing" collabo wey dey wit Kenya across Africa wit partners like Airtel, MKOPA, MTN, Orange, and odas to help millions of first-time Smartphone user gain access to quality, affordable Android Smartphone.

Di company say dem go invest in Black-led start-ups through one Black Founders Fund to provide cash awards and hands-on support.

Dis one go add to Google support through di Google for Start-ups Accelerator Africa, wey don helep more dan 80 African startups wit equity-free finance, work space and access to expert advisors over di last three years.

Di launch of one Africa Investment Fund of $50M in start-ups and provide dem wit access to Google employees, network, and technology to help dem build products wey make sense for dia community.

Empower businesses as dem continue or embark on dia digital transformation: dis go be inside collabo wit di non-profit organisation Kiva. Google say dem dey provide $10M for low-interest loan to help small businesses and entrepreneurs in Ghana, Kenya, Nigeria and South Africa to get through di economic gbege wey Covid-19 cause.