Washington, D.C. — 2nd Annual Conference to Engage Key Stakeholders in Infrastructure Development in Africa
General Electric Company (GE), has joined companies such as DynCorp International and Raytheon as a leading sponsor of The Corporate Council on Africa (CCA) 2007 U.S.-Africa Infrastructure Conference, it was announced today.
This is GE's second year supporting the conference, filling the role of event Chair for last year's inaugural event.
To date, event sponsors include the DynCorp International, Raytheon Company, Global Strategies Group, General Electric, U.S. Agency for International Development, U.S. Department of Transportation, OPIC, African Business and New African magazines, All Africa Global Media, Africa Investor and Times Publications.
The 2nd annual U.S.-Africa Infrastructure Conference will be held at the Grand Hyatt in Washington, D.C. from October 8-10, 2007.
Aptly titled "Building on Stability," this year's conference will highlight African countries that have laid the foundation for investment in infrastructure development through stable and democratic governments, and sound economic policies.
Benefiting from the success of last year's conference, CCA reports registration numbers for this year's event continue to climb.
"GE has been a longtime friend and supporter of CCA, and we are pleased to welcome them again a sponsor of the 2007 U.S.-Africa Infrastructure Conference," said CCA President Stephen Hayes . "U.S. companies, big and small, are well position to win infrastructure bids in Africa, and GE has proven that. Their experience and expertise of working in Africa will provide conference participants the information they will need to close promising business deals in Africa."
A key aspect of this year's conference will be the increased focus on risk management in Africa. Experts will discuss best practices, and strategies to minimize risks. In addition, business opportunities in key growth sectors including water, security, energy, roads and rails, transportation, as well as information and communications technology (ICT), will be highlighted.
"GE is proud to again sponsor the CCA US-Africa Infrastructure Conference," said Mark Digby, Africa Region Executive for GE Energy . "This conference shines an important spotlight on Africa's continued development and growth as a region. By combining high level speakers with in-depth workshops, and networking events, attendees will strengthen their understanding of the overall infrastructure environment in Africa, develop new ideas, and shape business opportunities."
"Africa is an important region for GE. It accounted for $1.9 billion of our revenue in 2006 and receives significant charitable contributions for education and infrastructure projects from the Company foundation. GE sees a lot of business and humanitarian opportunities in Africa and is planning for it to be a strong growth region for us in the years ahead."
The private sector invested more than $4.5 billion in infrastructure in Africa in 2005, according to a 2006 annual report of the Infrastructure Consortium on Africa. Almost 75% was invested in mobile telephony, but some countries also received investments from Independent Power Producers (IPPs), and from concessionaires taking over the management of rails, ports, and power distribution. China has committed to lending $5 billion to various African countries over the next three years, mostly for infrastructure investments.
CCA, established in 1993, is a nonpartisan 501 (c) (3) membership organization of nearly 200 U.S. companies dedicated to strengthening the commercial relationship between the U.S. and Africa. CCA members represent nearly 85 percent of total U.S. private sector investments in Africa. Visit CCA's website at www.africacncl.org for up-to-date information on the organization and upcoming events.
