The multinational would not be drawn on the details of the initiatives, but said they would be made public during the WEF meeting in Durban next week.
President and chief executive of Siemens, Joe Kaeser, said the demand for electrification and infrastructure in Africa was huge and companies needed to develop financing models to fund initiatives designed to meet this demand.
“Europeans must finally understand that Africa needs partners, not donors and a lot of good advice. And that requires a new way of thinking and new policies. Africa needs African solutions that create value in Africa for Africa,” Kaeser said.
Siemens said it had entered into a manufacturing agreement with Electro Inductive Industries (Eii) as it sought to bring new technology to the country’s transformer-manufacturing industry.