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GE to increase investment in Kenya

NAIROBI, (Xinhua) — U.S. multinational firm General Electric will expand its investments in Kenya’s energy, infrastructure, transport and health sectors, officials said on Friday.

General Electric Africa CEO Jay Ireland told journalists in Nairobi that Kenya remains an ideal investment destination despite security concerns.

“We have a long-term view as far as investments in Kenya are concerned and insecurity will not change that position. We operate in major hotspots across the world,” Ireland told reporters.

General Electric is a major supplier of aircraft engines and locomotives in Kenya. The company has enlarged its presence in renewable energy, healthcare as well as oil and gas sectors. Ireland said the wind power project financed by General Electric will be operational by 2016.

Besides financing infrastructure projects, General Electric has partnered with Kenya’s ministry of health to equip hospitals with modern diagnostic equipment.

“We have supported a public private partnership model to boost healthcare delivery in Kenya. A well-functioning healthcare system benefits the citizens and investors,” Ireland said.

He revealed that General Electric has supplied diagnostic equipment at a private hospital in Nairobi to boost cancer screening.

Ireland said General Electric CEO Jeff Imelt committed 4 billion U.S. dollars during the African Heads of State Summit held in Washington in August. He said American companies are keen on expanding their footprint in Africa based on the continent’s rapid economic growth.

“Africa’s economic renaissance presents opportunities to foreign investors. We have tripled our investments in Kenya,” Ireland said, adding that the company has engaged Kenyan policymakers to explore models that would accelerate the attainment of vision 2030.

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