GE to Invest US$2 Billion in Africa

GE (NYSE:GE) has announced that it will invest US$2 billion in facility development, skills training, and sustainability initiatives across Africa by 2018.

GE made the announcement in advance of President Obama’s U.S.-Africa Leaders Summit, where GE is hosting African and global government officials, policy experts, non-governmental organisations (NGOs), entrepreneurs and business leaders for a conference on investment, infrastructure, and innovation in Africa.

GE chairman and chief executive officer, Jeff Immelt, points out that, “I am proud of our 100-year history in Africa. Through investments such as our new multi-modal manufacturing facility in Nigeria, Algeria gas turbine manufacturing, and our customer innovation centre in South Africa, we remain a committed partner to Africa’s sustainable growth.”

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