Pretoria – Cabinet has welcomed the investment of a R500 million innovation centre by the United States’ multinational, General Electric (GE).
In a statement, Cabinet said the investment is a demonstration that South Africa and the continent are viable investment destinations.
This is the group’s 10th such centre globally and it’s the first in Africa.
The building, located in Johannesburg, is also the new headquarters for GE Healthcare, which showcases various healthcare technologies.
This demonstrates GE’s long term commitment to both the continent and to finding innovative solutions to Africa’s infrastructure and healthcare problems, said Cabinet.
The centre aims to enhance the career aspirations of over 100 engineers from previously disadvantaged backgrounds.
Space has also been allocated for collaborative projects and solution prototyping with Transnet partnering with GE on various rail localisation projects.
The centre further aspires to support the development of small businesses capable of supplying the local market and potentially GE’s global supply chains.
“Cabinet calls on all other multinationals to emulate the example set by GE,” it said on Thursday. – SAnews.gov.za
