The scramble for being part of the fast-growing digital economy in Africa has led to the increase of global firms setting up bases on the continent.
Alphabet Inc’s Google is the latest tech firm to flex its financial muscle and join other big boys who have set up bases in Kenya and the rest of Africa.
The company has intimated that it shall set up a development centre to serve the growing need for internet services in Kenya and Africa.
A few weeks after Microsoft’s entry into the Kenyan market, it injected a Sh3 billion into its office and labs.
The labs shall enable the organisation to house its engineering hub, the African Development Centre (ADC).
Interesting to note is that Visa has shown interest in setting up an innovation hub to co-create payment and commerce solutions with partners. Many analysts have termed the move a vote of confidence in Kenya.
However, it is a double-edged sword for local tech companies who will have to struggle to retain talent given the competitive salaries given by the multinationals.