GE to invest $2B in Africa by 2018


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.

ETFs: AFK

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Comments (3)
  • bernie 1
    , contributor
    Comments (632) | Send Message
     
    Islamic fanatics in the north of the Sahara. Terror squads are south of the desert.Ibola already in 5 countries in Sub-Sahara & spreading. Just how much profits can we find in such an atmosphere?
    4 Aug 2014, 09:51 AM Reply Like
  • Felix Lumpe
    , contributor
    Comments (708) | Send Message
     
    How about investing $2B in something that will actually increase share price. Sounds like yet another ill advised idea as the share price continues its long slide into oblivian. Sounds like they're exploring new ways to reduce ROI.
    4 Aug 2014, 10:27 AM Reply Like
  • Felix Lumpe
    , contributor
    Comments (708) | Send Message
     
    How about buying Tesla and installing Musk as the new GE CEO? Wouldn't it be great to have a guy with that type of vision running a mega company like GE?
    4 Aug 2014, 10:30 AM Reply Like
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