General Electric to invest $2 billion in Africa by 2018

Ahram Online , Tuesday 5 Aug 2014

General Electric says Africa is its 'most promising growth region' as it launches energy, infrastructure and skills training projects acros the continent

High-voltage power lines and electricity pylons
File Photo: High-voltage power lines and electricity pylons (Photo: Reuters)

General Electric (GE) announced on Monday that it will invest $2 billion in facility development, skills training and sustainability initiatives across Africa by 2018.

"Africa has emerged as the most promising growth region for GE", said a press release from the company, specifying that total GE revenues in Africa in 2013 were $5.2 billion and that in the past year GE has won more than $8.3 billion in orders across Africa.

GE made the announcement in advance of the first U.S.-Africa Leaders Summit, held in Washington, D.C. on Monday through Wednesday this week.

U.S. President Barack Obama has called for the conference to build on his trip to Africa in the summer of 2013 as he aims to "foster stronger ties between the United States and Africa," according to the White House website.

GE says it will focus its Africa investment in three strategic areas: building infrastructure, delivering localised solutions to customers and capacity building by providing skills training and growing supply chain development in local communities.

The new GE projects in Africa include increasing power grid reliability during periods of peak consumption in Algeria and generating uninterrupted power at the Nigerian National Petroleum Corporation's state oil refinery.

The projects should also help generate an additional 5,000MW of electricity generation capacity in cooperation with the government and other private sector companies across six partner countries and will also supply approximately $1 billion in railway and power equipment to Angola.

Other investments will take place in Kenya, Ghana, Rwanda, Tunisia, Algeria and South Africa, among other countries.

Short link: