Based on website information of Forbes magazine, the First U.S.-Africa Leaders Summit was recently held in Washington, USA, where African leaders said that the economic growth potential in Africa would surpass many other areas worldwide. Many multinational corporations are actively investing in Africa, which might become a new hotspot for global investment.
During the dispirited period of global economy, Africa was still expanding its economy at the speed of 6%. Though there are till 60 million people have no access to power utilization in Africa, this situation will be changed because global multinational corporations are actively invest in this area. Jeffrey R. Immelt, the CEO of General Electric Co. USA (GE), said that, "From the perspective of business, economic growth in Africa is just a matter of time. It is inevitable for Africa to face economic growth. Challenges still exist, but these challenges could be solved in development and innovation. "
At present, GE has promised to invest $2 billion (about RMB12.3 billion) to Africa before 2018 for the construction of energy infrastructures from natural gas plants, solar facilities, to wind power plants, etc. The investment promised by GE also included investing $1 billion (about RMB 6.15 billion) to Angola for the construction of railways and electronic equipments. Additionally, GE will invest in electric power department in Ghana.
It is reported that Europe has been operating long-term business in Africa, while more and more Chinese people are flocking in African markets. Relatively speaking, American investors show more cautious attitudes. While at this U.S.-Africa Leaders Summit, African leaders said this doubt did no longer exist, because Africa at present was not totally suffering starvation and wars; Africa has been focusing on border opening and strengthening the construction between governments and enterprises. With investment to construct enough modern infrastructures, the economic expansion in Africa would be expected to 10%. This might attract multinational corporations to invest to Africa other than GE.
