- 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