How General Electric invests in industry

sQuashie

March 14, 2016 12:28 PM

Cote d’Ivoire boasts one of the highest incomes per capita in Africa, and is a vital economic and freight partner for neighbouring, landlocked countries.

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Cote d’Ivoire has one of the strongest economies in West Africa, and has solidified its place as a formidable centre of industry in Sub-Saharan Africa.

This month, Jeff Immelt, Global Chairman and CEO of GE, led a high powered delegation to visit the country.

Cote d’Ivoire boasts one of the highest incomes per capita in Africa, and is a vital economic and freight partner for neighbouring, landlocked countries. It is the world’s largest exporter of cocoa beans, and the fourth largest exporter of other goods. However, in recent years competition in exports has increased and changes in labour laws have made it more difficult to compete in this industry.

Because of this, the country is looking to invest in new industries and expand the skills of its citizens.

Immelt’s visit affirmed GE’s partnership with Cote d’Ivoire to further economic development. GE has committed to making a number of investments in the region, primarily in the fields of energy, water, health care and electricity. “Africa is one of the most promising growth regions for our business,” said Immelt.

During his visit, he met President Alassane Ouattara, Prime Minister Kablan Duncan, and Charles Boamah, Finance Vice President at the African Development Bank.

President Ouattara said, “As a Government, our priority is to broaden our industrial base as well as emerge as a knowledge driven economy. This has created immense opportunities, particularly for partners like GE, to come on board with us to create prosperity for our people.”

Immelt participated in the signing of significant partnership agreements between GE and business and government leaders in Cote D’Ivoire. These partnerships are designed to not only leverage GE’s capability and expertise in several sectors, including healthcare, aviation, rail transportation, power generation, water, and oil and gas, but also to work in tandem with the government to find solutions to infrastructure and technology challenges. Additionally, increased industry investment will help develop local skills.

Boamah commended the president of GE for their increasing investments in Africa. “Private sector players like General Electric can play a critical role in bridging Africa’s infrastructure gap.”

The agreements signed during this visit will help to establish the country as GE’s industry hub for operations in Francophone Africa.

sQuashie

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