By: Wazobia Staff

The Chairman and CEO of Caterpillar Inc. Doug Oberhelman said the company planned to invest over US$1 billion in Africa in the coming years to upgrade customer service capabilities and expand their presence on the continent. he said the investment will include enhanced parts distribution capacity, new rebuild centers, new dealer branch locations, the expansion of Caterpillar’s Technicians for Africa online skills development programmer, as well as and millions of dollars to support programmers that lift people out of poverty. He made this known at the recently concluded U.S.-Africa Business Forum (USABF) in New York City

“For 90 years, Caterpillar machines have helped build critical infrastructure projects throughout Africa. Today, we bring not only construction machinery to the continent, but also traditional and renewable power generation solutions, diesel-electric locomotives, marine engines and mining equipment, with today’s announcement, we are proudly confirming our plan to make a long-term investment to help build, develop and power communities, and serve as an education and training partner to broaden and strengthen local workforce talent and expertise.” He added.

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 since 2010. The Foundation said it would commit an additional approximately US$15 million by the year 2020