Ivory Coast: How General Electric invests in industry

14 March 2016, Abuja – Cote d’Ivoire boasts one of the highest incomes per capita in Africa, and is a vital economic and freight partner for neighbouring, landlocked countries.

General Electric, GE LogoCote d’Ivoire has one of the  strongest economies in West Africa, and has solidified its place as a  formidable centre of industry in Sub-Saharan Africa.

This month, Jeff Immelt, Global Chairman and CEO of GE, led a high powered delegation to visit the  country.

Cote d’Ivoire boasts one of the highest incomes per capita in Africa, and is a vital economic and freight partner for neighbouring, landlocked countries.

It is the world’s largest exporter of cocoa beans, and the fourth largest exporter of other goods. However, in recent years competition in exports has increased and changes in labour laws have made it more difficult to compete in this industry.

Because of this, the country is looking to invest in new industries and expand the skills of its citizens. Immelt’s visit affirmed GE’s partnership with Cote d’Ivoire to further economic development.

GE has committed to making a number of investments in the region, primarily in the  fields of energy, water, health care and electricity.

“Africa is one of the  most promising growth regions for our business,” said Immelt.

During his visit, he met  President Alassane Ouattara, Prime Minister Kablan Duncan, and Charles Boamah, Finance Vice President at the African Development Bank.

President Ouattara said, “As a  Government, our priority is to broaden our industrial base as well as emerge  as a knowledge driven economy. This has created immense opportunities,  particularly for partners like GE, to come on board with us to create  prosperity for our people.”

Immelt participated in the  signing of significant partnership agreements between GE and business and  government leaders in Cote D’Ivoire.

These partnerships are designed to not  only leverage GE’s capability and expertise in several sectors, including  healthcare, aviation, rail transportation, power generation, water, and oil  and gas, but also to work in tandem with the government to find solutions to  infrastructure and technology challenges.

Additionally, increased industry  investment will help develop local skills. Boamah commended the president of  GE for their increasing investments in Africa.

“Private sector players like  General Electric can play a critical role in bridging Africa’s infrastructure  gap.”

The agreements signed during this visit will help to establish the country as GE’s industry hub for operations  in Francophone Africa.

 

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