GE to invest $2B in Africa by 2018

|By:, SA News Editor

General Electric (NYSE:GE) has announced that it will invest approximately $2B in African nations by 2018 and regards the continent as its most promising growth region.

"We remain a committed partner to Africa’s sustainable growth," says CEO Jeff Immelt.

The funds will be spent building new infrastructure projects, training local workers and improving regional supply chains.

GE is increasing spending as the U.S. is shifting from supplying aid towards investing in Africa amid the start of a U.S.-Africa Leadership Summit in Washington D.C. starting today.