Welcome!

News Feed Item

GE to Invest $2 Billion in Africa by 2018

GE (NYSE:GE) announced today that it will invest $2 billion in facility development, skills training, and sustainability initiatives across Africa by 2018. GE made the announcement in advance of President Obama’s U.S.-Africa Leaders Summit, where GE is hosting African and global government officials, policy experts, NGOs, entrepreneurs and business leaders for a conference on investment, infrastructure, and innovation in Africa.

Through partnerships and technology, GE is poised to help increase access, reliability, and affordability of core infrastructure throughout the continent. Africa has emerged as the most promising growth region for GE. Total GE revenues in Africa in 2013 were $5.2 billion and in the past year, GE has won more than $8.3 billion in orders across Africa.

GE Chairman and CEO Jeff Immelt said, “I am proud of our 100-year history in Africa. Through investments such as our new multi-modal manufacturing facility in Nigeria, Algeria gas turbine manufacturing, and our customer innovation center in South Africa, we remain a committed partner to Africa’s sustainable growth.”

GE will focus its investment in Africa in three strategic areas: building infrastructure; delivering localized solutions to customers; and capacity building, by providing skills training and growing supply chain development in local communities.

New GE commitments in Africa include:

  • GE’s Distributed Power business will supply aeroderivative gas turbines in Algeria and Nigeria to increase grid reliability during peak power demands in Algeria and generate uninterrupted power at the Nigerian National Petroleum Corporation’s state oil refinery. As a founding partner for President Obama’s Power Africa initiative, GE committed to help bring online 5,000MW of new electric generation capacity in cooperation with the Initiative’s government and other private sector partners across six partner countries, including Nigeria.
  • GE’s “Country-to-Company” agreement with the Government of Nigeria, which encourages the development of infrastructure projects and the transfer of skills and technology, will be renewed for another five years.
  • GE will supply approximately $1 billion in railway and power equipment to Angola, under a bilateral agreement signed this week between the Export-Import Bank and Angola’s Ministry of Finance to finance infrastructure development projects in the country.
  • The GE Foundation will invest $20 million over the next five years in health programs across Africa – including Nigeria, Kenya, Ghana, Rwanda, Uganda, Tanzania and Malawi – to train nurse anesthetists and biomedical equipment technicians, among other healthcare initiatives.

Jay Ireland, President and CEO, GE Africa said, “GE has long been committed to unlocking Africa’s potential but, as our most recent deals in the region demonstrate, we believe there is still more that we can do. Our investments in infrastructure and people only strengthen our role as a key partner in helping to build Africa’s future.”

Nabil Habayeb, President and CEO, GE Middle East, North Africa & Turkey said, “Together with our regional partners, GE is elevating transformative ideas that have the potential to solve local challenges by lending scale and resources. GE is committed to empowering the communities in which it operates across the continent.”

Other commitments and recent announcements in Africa include:

Building Infrastructure

Core infrastructure needs in Africa represent a $90 billion opportunity. GE is one of the leading American companies powering Africa. GE’s advanced technologies generate 25 percent of Africa’s gas power, and nearly 70 percent of the electricity distributed across Algeria.

  • GE and Dangote Industries, one of the largest diversified industrial conglomerates in Africa, signed a strategic cooperation agreement last year, and a framework agreement for distributed power solutions this year. The partners will collaborate on major infrastructure projects – in power generation, rail transport, and the oil and gas sector.
  • GE and the Tunisia Ministry of Development and International Cooperation signed a “Country-to-Company” MOU agreement, committing to develop local infrastructure through partnerships in transportation, healthcare, and electricity sectors.
  • GE recently announced plans to invest in the Ghana 1000 project, which aims to bring 1,000 MW of power online over the next six years.
  • GE South Africa Technologies has committed to supply Transnet with 233 locomotives, as well as develop a Supplier Development Fund with IDC and IFC that fosters the growth of subject matter experts throughout the GE supply chain in Africa. The partnership with Transnet has created hundreds of skilled jobs on both continents. With this new order, GE will be delivering 436 new locomotives operating in South Africa by 2017.
  • In Algeria, GE is investing with partner, Sonelgaz, to build a new production plant manufacturing steam turbines, gas turbines, generators, and control systems that will deliver approximately 2 GW per year to meet the country’s growing electricity demand.
  • GE received orders in Mozambique for 100 locomotives between 2012 and 2014. In early 2014, GE Transportation delivered the first four of 10 C30ACi locomotives that were ordered in 2012 to CFM (Portos e Caminhos de Ferro de Moçambique). GE will provide services and skills training in Mozambique. For this order, the engines are made in Pennsylvania and the locomotives are assembled at Transnet Engineering plant in South Africa.

Localized Solutions

GE is working with partners in Africa to drive sustainable development and solve local challenges by investing in technology, building capital markets and developing technical skills within communities.

  • In Calabar, Nigeria, GE is investing more than $1 billion over five years to build technical expertise and infrastructure capacity across various sectors of the Nigerian economy. The investment includes $250 million toward a new multi-modal facility for manufacturing and assembling machinery that will create 2,300 new local jobs.
  • As part of a $500 million agreement with Egypt’s Carbon Holding, GE will deliver an integrated solutions package featuring technologies and equity in one of the world’s largest petrochemical projects.
  • By 2017, GE will invest $70 million into a Customer Innovation Center for skills development in South Africa, as well as $19 million into supplier development funds to provide financial and technical support for emerging local businesses.
  • GE will provide an additional $350 million in services and technology to Nigeria’s subsea industry, including hiring of local field engineers and deployment of solutions from GE’s Oil & Gas business.
  • In collaboration with the U.S. Africa Development Foundation and USAID, GE launched the “Power Africa Off-Grid Energy Challenge” and awarded six $100,000 grants to local enterprises to develop and expand off-grid solutions. Now in its second phase, the challenge has expanded to cover all six Power Africa countries by including Ethiopia, Ghana, Kenya, Liberia, Nigeria, and Tanzania.
  • Together with the Federal Ministry of Health and USAID, GE Healthcare has entered into a $20 million five-year initiative to reduce child-maternal deaths in Nigeria. This partnership entails forming a new healthymagination Mother and Child Initiative as well as supporting the ongoing efforts of the Ministry of Health’s “Save One Million Lives” program, which tackles maternal and infant mortality in Nigeria.

Capacity Building

GE empowers the communities in which it operates by providing skills training and developing leaders through partnerships with local governments, schools, and hospitals. We are investing in capacity building that will ensure sustained growth.

  • Through its Apprenticeship program, over the next four years, GE Africa will spend up to $45 million to develop local Angolan talent.
  • As part of its work with the Young African Leaders Initiative (YALI), GE will support YALI Regional Leadership Centers curriculum development, provide facilitated leadership training, and volunteer GE staff members to serve as mentors to youth.
  • In Algeria, GE is partnering with the Ministry of Health to improve emergency care, modernize hospitals and support the government in developing 10 new teaching hospitals. GE launched its healthymagination program in Algeria in May, focused on consumer education and awareness of disease prevention.
  • In partnership with AMIDEast, GE is investing in teacher training programs focused on increasing capabilities in the public education system in Libya, Tunis and Egypt.
  • GE, Dangote Foundation and other partners are collaborating to create a skilled workforce in Nigeria. Both organizations are focused on training young people in order to maximize their potential for employment. Garages is designed as a convention for hands on training, work placement opportunities, and a leadership program designed for graduate students in manufacturing and various service industries.

“Over the last few years, we have expanded in growth markets by 15 percent each year,” Immelt said. “Our capability and culture give us great momentum in Africa and other developing regions around the world. We are solving problems for our customers and countries where we invest.”

About GE:

GE (NYSE:GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
Qosmos has announced new milestones in the detection of encrypted traffic and in protocol signature coverage. Qosmos latest software can accurately classify traffic encrypted with SSL/TLS (e.g., Google, Facebook, WhatsApp), P2P traffic (e.g., BitTorrent, MuTorrent, Vuze), and Skype, while preserving the privacy of communication content. These new classification techniques mean that traffic optimization, policy enforcement, and user experience are largely unaffected by encryption. In respect wit...
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
StarNet Communications Corp has announced the addition of three Secure Remote Desktop modules to its flagship X-Win32 PC X server. The new modules enable X-Win32 to safely tunnel the remote desktops from Linux and Unix servers to the user’s PC over encrypted SSH. Traditionally, users of PC X servers deploy the XDMCP protocol to display remote desktop environments such as the Gnome and KDE desktops on Linux servers and the CDE environment on Solaris Unix machines. XDMCP is used primarily on comp...
Almost two-thirds of companies either have or soon will have IoT as the backbone of their business in 2016. However, IoT is far more complex than most firms expected. How can you not get trapped in the pitfalls? In his session at @ThingsExpo, Tony Shan, a renowned visionary and thought leader, will introduce a holistic method of IoTification, which is the process of IoTifying the existing technology and business models to adopt and leverage IoT. He will drill down to the components in this fra...
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
As the world moves toward more DevOps and Microservices, application deployment to the cloud ought to become a lot simpler. The Microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. Serverless computing is revolutionizing computing. In his session at 19th Cloud Expo, Raghav...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
There is growing need for data-driven applications and the need for digital platforms to build these apps. In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications. In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...