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Caterpillar chairman and CEO Doug Oberhelman have announced that the firm its independent dealers and the Caterpillar Foundation plan to invest more than US$1bn in countries across Africa over the next five years
This strengthen’s Caterpillar’s long-term pledge to support the continent and is expected to provide a huge upgrade in customer service capabilities – such as enhanced parts distribution capacity, new Certified Rebuild Centres and new dealer branch locations.
“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,” said Oberhelman.
“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."
Since 2010, the Caterpillar Foundation has invested around US$50mn to support projects in Africa in a drive to help those living in poverty, especially girls and women, through training, policy work and entrepreneurship programmes.
The Caterpillar Foundation said that it will commit an additional US$15mn by the year 2020 to organisations working with a goal to enhance the lives of people across Africa.