German electrical equipment manufacturer Siemens is aiming to double its order intake in Africa to more than $3.3 billion by 2020, according to its chief executive officer Joe Kaeser.
As reported by ESI-Africa, Siemens signed a memorandum of understanding with Uganda and Sudan during the World Economic Forum held in Durban, South Africa last week.
The investment has been earmarked for developing power supply, as well as industry, transportation and healthcare.
"Africa’s economies are gaining ground and can develop their full potential with the right partner. Siemens wants to support their sustainable development – with solutions and projects in Africa, for Africa," Kaeser said.
"Our goal is to double our order intake in Africa to more than 3 billion euros by the year 2020," he added.