GE to Invest $2 Billion in Africa by 2018

The company will supply gas turbines in Algeria

   

GE to Invest $2 Billion in Africa by 2018

General Electric (GE) is planning on investing $2 billion in Africa by 2018.

GeneralElectric GE to Invest $2 Billion in Africa by 2018The 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.


Article printed from InvestorPlace Media, http://investorplace.com/2014/08/ge-africa/.

©2014 InvestorPlace Media, LLC

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