General Electric (GE) is planning on investing $2 billion in Africa by 2018.
The company called Africa its “most promising growth region” in a news release. GE will train people and create a number of projects to help develop the continent’s supply chain, infrastructure and sustainability initiatives.
“I am proud of our 100-year history in Africa,” said GE CEO Jeff Immelt. Through investments such as our new multi-modal manufacturing facility in Nigeria, Algeria gas turbine manufacturing, and our customer innovation center in South Africa, we remain a committed partner to Africa’s sustainable growth.”
The company’s earned more than $5.2 billion in revenues across 30 African countries in 2013.
GE stock is down about 1% Monday afternoon.