World Economic Forum Africa and General Electric Co.

General Electric Co.: The buzz at the World Economic Forum on Africa, an annual summit of the continent rich and powerful, is all about Ethiopia, where the economy is flourishing and the government is embracing select foreign capital, according to Bloomberg. Executives from General Electric Co., Dow Chemical Co., Standard Bank Group Ltd. and Master Card Inc. attending the June 3-5 gathering in Cape Town all singled out the East African nation as a market with strong potential. Photographer: Simon Dawson/Bloomberg Share on Facebook Share on Twitter Share on Linked InShare on Reddit Share on Google+E-mail Africa has a hot new investment destination and it not Nigeria. Ethiopia was Africa eighth-largest recipient of foreign direct investment last year, up from 14th position in 2013, a report released by accounting firm EY on June 2 showed. It got a government that is managing economic development in a very deliberate, cautious manner, Ross McLean, Dow president for sub-Saharan Africa, said in an interview on Thursday. The number of projects in Ethiopia surged 88 percent, the most of all countries ranked, while those in Nigeria slumped 17 percent. (news.financializer.com). As reported in the news.