Google invested $110 million in Nigerian fintech, while only $5 million of support was announced in Poland. Prime Minister Donald Tusk has triumphantly declared it a success, but reality looks different. The scale of investment in Africa shows that Poland does not number in the global technology game. Can't the government negotiate, or have we just been ignored?
Google pumps millions in Nigeria
Nigerian fintech Moniepoint, specializing in digital payments and banking, just raised $110 million from investors, including Google. This is simply a immense investment that will let the company to get the position of "unicorn" – a company worth over a billion dollars.
Why Nigeria? It is simply a country with over 200 million inhabitants, where the fintech sector is developing rapidly. Google knows that it is worth investing where there are opportunities for dynamic development. Moniepoint serves $17 billion a period and will now be an even bigger player on the African financial market.
Meanwhile, in Poland Google announces a modest $5 million – the amount that its president Sundar Pichai earns in a fewer days.
Tusk and Google – large scale embarrassment
During a joint press conference Donald Tusk and Sundar Pichai announced an "investment" worth $5 million. This amount is so insignificant that its announcement at the highest level looks grotesque. In the context of global activities Google Poland was treated as a 3rd category country.
In comparison, Pichai earned $226 million in 2022, which means that his yearly wage exceeds forty times the "investment" in Poland. Does the government truly think that money like this will make a difference?
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Poland has no leverage?
Everything indicates that Poland does not have a strong negotiating position. The U.S. administration plays hard for its own interests, and tech giants choose the markets that are crucial to them. Nigeria is the future – a immense marketplace and increasing technological needs. Poland? According to Google, it does not deserve more money.
Donald Tusk frequently says that he is simply a man of the European Union. However, for global giants it is not adequate to take Poland seriously. Investments go where governments can fight for their own.
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