Caterpillar and dealers announce US$1 billion investment across Africa

Caterpillar Inc. Chairman and CEO Doug Oberhelman, currently taking part in the US-Africa Business Forum (USABF) in New York City, announced that the company, its independent dealers and the Caterpillar Foundation plan to invest more than US$1 billion in countries throughout Africa over the next five years. The news reconfirms Caterpillar's long-term commitment to the continent and is intended to provide a major upgrade in customer service capabilities – including enhanced parts distribution capacity, new state-of-the-art Certified Rebuild Centres, new dealer branch locations, the expansion of Caterpillar's Technicians for Africa online skills development program and millions of dollars to support programs that lift people out of poverty.

With approximately 15 000 Caterpillar and Cat dealer employees in Africa, Caterpillar already has a significant footprint in this important and growing market. Caterpillar's investment will increase that footprint, while simultaneously boosting the infrastructure development and skills training capabilities necessary in African countries for them to continue their rise in global competitiveness.

Since 2010, the Caterpillar Foundation has invested approximately US$50 million to support projects in Africa focused on impacting those living in poverty, and specifically girls and women, through training, policy work, entrepreneurship programs and more. These investments are benefiting hundreds of thousands with access to education, energy, clean water and sanitation, and microfinance. Building on these historical investments, the Caterpillar Foundation will commit an additional approximately US$15 million by the year 2020 to organisations working to improve lives across Africa.

Adapted from press release by Joseph Green

Read the article online at: https://www.worldcement.com/africa-middle-east/22092016/caterpillar-dealers-announce-billion-investment-africa-315/