U.S. Corporations Shake Hands With Africa
Africa's economic momentum is attracting top corporations.
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U.S. Companies in Africa - Africa’s economy is expected to rise by 6 percent a year, according to the World Bank’s projections. In 2013, U.S. corporations launched humanitarian and economic initiatives in the region. Here’s a look at top U.S. companies who are vying for their piece of Africa’s pie. – By LaToya Bowlah (Photo: Ron Chapple/Getty Images)
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General Electric to Power Africa - General Electric has committed to help bring 5,000 megawatts of new, affordable energy to Tanzania and Ghana. The power plants will be fueled with natural gas from a multi-billion-dollar offshore field, in which the Texas-based Anadarko Petroleum has a large stake. (Photo: REUTERS/Mike Hutchings/Files)
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Procter and Gamble Targets South African Shoppers - "We have businesses in Nigeria, in Kenya, Uganda, Tanzania — we are going to go to Angola, Ethiopia," said Dimitri Panayotopoulos, the vice president of P&G. The company announced an investment estimated at $170 million to develop a manufacturing hub in Southern and East Africa. The site is expected to create more than 500 jobs and operations are expected to begin in 2016. (Photo: Joe Raedle/Getty Images)
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ExxonMobil Empowering Africa - Within the last five years, ExxonMobil has committed more than $24 billion to energy exploration and development in Nigeria, Angola and Equatorial Guinea. But as this Irving, Texas-based oil giant continues to fill its pockets in Africa, it is also spending millions on combating diseases, improving education and empowering women. In Tanzania, ExxonMobil sponsored the George W. Bush Institute’s African First Ladies Summit to bring together eight of the continent’s leading women. (Photo: Paula Bronstein/Getty Images)
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PWC Extends Its Tax Advising to Africa - Over the next three years, Price Waterhouse Cooper aims to invest $100 million in expanding their tax advisory work in Africa. This initiative would foster skills development, business infrastructure and an additional 8,000 staff and partners in home-grown talent. The company wants to provide its advisory services across the continent through one Pan African entity. (Photo: Amy T. Zielinski/Newscast /Landov)
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Wal-Mart Buys South African Distribution Company - Wal-Mart spent $1.8 billion for 51 percent of Massmart Holdings Ltd., the third largest distribution company in Africa. In 2012, Wal-Mart announced a $313 million investment to add 40 stores throughout the continent by the end of 2013. (Photo: Daniel Aguilar/Getty Images)
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IBM Enhances Tech in Africa - IBM Research will open a new lab in Nairobi, Kenya. It will be among the first labs on the continent to conduct both applied sciences and exploratory work and will focus on public sector solutions for Kenya’s water and transportation system. (Photo: Getty Images)
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Merrill Lynch Preps African Students for Finance - Bank of America Merrill Lynch has launched a preparatory program for students attending Ghana's and Nigeria’s universities with an interest in finance. The program, Global Growth – Developing Talent in Africa, will give the selected students exposure to senior company representatives through internships at the bank in New York and London. (Photo: REUTERS/Keith Bedford)
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Goldman Sachs' 10,000 Women Initiative - The 10,000-women initiative is a five-year investment by Goldman Sachs, which provides women around the world with a business and management education. Through a partnership with Columbia Business School, the program facilitates courses in entrepreneurship, finance and non-profit management for universities in Nairobi, Kenya and Dar es Salaam, Tanzania. (Photo: Troels Graugaard/Getty Images)
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FedEx Connects Africa - FedEx announced its acquisition of its current service provider, Supaswift Ltd., in five countries: South Africa, Malawi, Mozambique, Swaziland and Zambia. FedEx also aims to offer the complete range of its export and import services to connect Southern Africa with more than 220 countries and territories worldwide. (Photo: Justin Sullivan/Getty Images)
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PepsiCo Is Interested in Africa's Agriculture - PepsiCo is actively looking at engaging Africa’s agriculture sector. Commonly known for brands like Pepsi-Cola and Lay’s chips, PepsiCo wants to invest in nutritious foods and is seeking indigenous African crops to do so. The company is also investing in research to identify healthy crops, and create snacks for low-income communities in Sub-Saharan Africa. (Photo: REUTERS/Siphiwe Sibeko)
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AT&T Combats Pneumonia in Africa - AT&T teamed up with global health and disaster relief organization Project HOPE to fight pneumonia in developing countries in Africa. The project will go inside factories and treat expecting mothers working on the production line. Also AT&T contributed $75,000 to develop pediatric devices that will track and accurately diagnose pneumonia in workers. (Photo: GHANA-VACCINES/ REUTERS/GAVI/Olivier Asselin/Handout)
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Coca-Cola Foundation's Signature Initiative - Supported by a $30 million dollar commitment by Coca-Cola, the Replenish Africa Initiative (RAIN) is working to provide more than 2 million people in Africa access to drinking water by 2015. RAIN will launch more than 100 water-access programs across Africa as well as sanitation and hygiene education programs to kick start their robust initiative. (Photo: Alyce Henson/Rotary International/Getty Images)