General Electric has plans to invest in Ethiopia

General Electric Plans Africa Investment

General Electric (NYSE:GE), the multinational conglomerate corporation, is getting ready to invest in Ethiopia.

General Electric (NYSE:GE)’s delegates visited Ethiopia to hold talks with the Ethiopian Electric and Power Corporation (EEPCo) on renewable energy investment projects in the country.

General Electric (NYSE:GE) hopes to provide the finance by itself for the investment projects.

Mekuria Lemma, EEPCo’s Corporate Planning Head, said that, “General Electric (NYSE:GE) has through the Ethiopian Embassy to the United Sates have contacted us and told us that they have interest to invest in Ethiopia. However, the specific energy sub-sectors or ventures the company will be investing in and the amount of the investment outlays are yet to be known after the company holds talks with EEPCo and other concerned government offices and authorities. We have shown to General Electric (NYSE:GE) representatives the five-year Growth and Transformation Plan (GTP) very recently and we expect them to come up with a concrete plan”.

General Electric Co. (NYSE:GE) stocks were at 15.34 at the end of the last day’s trading. There’s been a -17.9% movement in the stock price over the past 3 months.

Source:Stocksandshare