GE pushes ahead with $2bn investment in Africa

General-Electric-GE-Logo26 September 2016, Lagos – GE, which has operated in Africa for over 100 years, has restated its commitment to investing $2bn in facility development, skills training and sustainability initiatives across the continent by 2018.

The company re-echoed the commitment at the 2016 US-Africa Business Forum, while announcing significant progress against the commitment as well as several new initiatives, according to a statement.

Two years ago, the first US-Africa Business Forum drew the attention of the world to the promise of Africa. Governments and organisations discussed and debated opportunities in infrastructure, innovation, and workforce development, and together committed more than $33bn in deals, investments and financing to accelerate the continent’s growth.

The President and Chief Executive Officer, GE Africa, Jay Ireland, was quoted to have said, “Meeting Africa’s needs takes leadership and cooperation. This US-Africa Business Forum signals the strong commitment by both African and US companies and governments to collaborate for economic growth.

“GE is proud to remain a steadfast partner in Africa’s sustainable growth and will continue to invest in people and infrastructure across Africa.”

The President and Chief Executive Officer, GE Middle East, North Africa and Turkey, Nabil Habayeb, said, “Building on our decades of presence in the region, we have specifically focused on supporting North African nations to strengthen their energy, health care and transportation infrastructure – sectors that are mission-critical for sustained growth.

“In addition to delivering advanced digital industrial technologies that enhance productivity and efficiency, our emphasis has been to create thriving innovation ecosystems and promote local capacity hospitals. Early results are positive; access to radiology services improved by 50 per cent across three pilot hospitals in the first five months after the new equipment was installed.

“Through partnership agreements in Nigeria, Kenya, Ethiopia, Ghana and Angola, we support their development agendas in power generation, health care and transportation. We were even named one of Nigeria’s most strategic investors this year.”

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