The US government is to boost ICT development in Africa to the tune of $100 million (about R760 million) through the Overseas Investment Corporation (OPIC).
Following a recent trip to Africa, US president George W Bush announced that five new equity investment funds for telecoms, media and technology would benefit from the cash injection.
The money will bring OPIC's investment in this area to $1.6 billion (about R12.16 billion). POIC donates money to a range of African causes, including the SA Work Force Housing Fund, which has already received in the region of R1.2 million.
The latest telecoms investment will go towards boosting broadband infrastructure in East Africa, primarily in Malawi, Rwanda, and Uganda. It is hoped that this will lead to improved television and telecommunications products, as well as lower broadband costs and better IT infrastructure for small and medium enterprises (SMEs).
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