Caterpillar Sees Opportunity in Africa and Makes Billion Dollar Financial Commitment
Caterpillar makes a big investment in Africa, seeing long term growth potential.
Despite the commodity downturn and currency challenges, Caterpillar (CAT) - Get Report sees tremendous growth opportunities in Africa, according to one executive. Caterpillar, along with its foundation and independent dealers, recently announced plans to invest more than $1 billion in countries throughout Africa over the next five years. The funding will be used to boost infrastructure development and skills training in several countries. David Picard, general manager for Africa and the Middle East for Caterpillar, spoke about the investment at the U.S. Africa Business Forum in New York.
