Tuesday, 29 April 2014

GE Global Vice-Chairman, John Rice, Others Co-Chair World Economic Forum in Abuja

The Global Vice-Chairman of General Electric (GE), John Rice is expected to c-chair the 2014 World Economic Forum on Africa holding in Abuja on April 7-9, 2014.

Rice who is also the President and Chief Executive Officer, Global Growth and Operations, General Electric will co-chair the economic summit alongside Dominic Barton, Global Managing Director, of McKinsey & Company, United Kingdom, Jean-François van Boxmeer, the Chairman of the Executive Board and Chief Executive Officer of Heineken, Netherlands and Alhaji Aliko Dangote, President and Chief Executive Officer, Dangote Group, Nigeria.
GE Global Vice-Chairman, John Rice

Others include Mineta Diop, Special Envoy for Women, Peace and Security, African Union and President, Femmes Africa Solidarité, Switzerland, Jabu A. Mabuza, Chairman, Telkom Group, South Africa and Sunil Bharti Mittal, Founder and Chairman, Bharti Enterprises, India.

The World Economic Forum is an international institution committed to improving the state of the world through public-private cooperation in the spirit of global citizenship. Nigeria is hosting the Forum in Abuja, the seat of Nigerian government with the theme: “Forging Inclusive Growth, Creating Jobs”.

The Forum will be declared open by President Goodluck Ebele Jonathan, President of the Federal Republic of Nigeria. It is aimed at beaming the searchlight on developmental issues in Africa and to create meeting grounds for both public and private partnership towards the development of the continent.

Africa’s remarkable growth trajectory is projected to remain above 5 per cent in 2014 with West Africa the fastest growing sub-region, representing the continent’s largest business opportunity. Such momentum is a welcome and necessary boon to a region whose youthful population offers the prospects of a significant demographic dividend fuelled by growth in consumer industries, manufacturing and business process outsourcing.

GE has been a major player in infrastructure development and investment in African economies, particularly when viewed against the background of its recent investments in the Nigerian economy.

It will be recalled that GE signed the first ever country-to-company agreement with the Nigerian government a few years ago, a platform which the company continues to expand and improve on as it strives to make Nigeria one of the hubs of its businesses in Africa. GE businesses in Nigeria continues to expand across sectors - Oil and Gas, Power and Water, , Healthcare, Transportation and Aviation.

In the last two years, the company has re-energised and expanded its investments and business interests in Nigeria cutting across major infrastructure sectors.  In demonstration its commitment to investing in the Nigerian economy, GE expanded its landmark country-to-company agreement  it signed with the federal government of Nigeria by  signing multiple investment MoUs for project development in power, healthcare, and transportation sectors of the economy essentially to expand local capabilities and stimulate a total infrastructure overhaul.

Nigeria, Africa’s largest economy and most populous nation – with over 160 million inhabitants – already plays a crucial role in advancing the continent’s growth; yet it is also emblematic of the challenges of converting natural wealth into solutions that address persistent social challenges. As the foremost gathering on the continent, the 24th World Economic Forum on Africa will bring together regional and global leaders to discuss innovative structural reforms and investments that can sustain the continent’s growth while creating jobs and prosperity for all its citizens.

John Rice, Vice-Chairman of General Electric holds a BA in Economics, Hamilton College, Clinton, New York. He joined General Electric since 1978.

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