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GE to Invest $2B in Africa

FIN24   in 
August 5, 2014

Washington – General Electric announced $2bn in new investments in Africa through 2018 on Monday, as Washington kicked off the US-Africa Summit, aimed at boosting commercial relations.

GE, which already has a substantial presence in the continent, said the new investments will include health training programs in several countries including Nigeria, Kenya and Ghana, a new facility in Nigeria for manufacturing and assembling machinery, mainly for the oil sector, customer support systems in South Africa and other operations.

The US engineering giant also said it will announce during the summit this week a $1bn power and railway equipment deal with Angola, supported by the US Export-Import Bank.

GE Chief Executive Jeffrey Immelt said Africa has become GE’s most promising region for growth.

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