Despite the commodity downturn and currency challenges, Caterpillar ( ) sees tremendous growth opportunities in Africa, according to one executive. Caterpillar, along with its foundation and independent dealers, recently announced plans to invest more than $1 billion in countries throughout Africa over the next five years. The funding will be used to boost infrastructure development and skills training in several countries. David Picard, general manager for Africa and the Middle East for Caterpillar, spoke about the investment at the U.S. Africa Business Forum in New York.
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