Caterpillar Invests $11m for Africa’s Prosperity

By Joseph R. Fonseca
Tuesday, August 05, 2014

 

The Caterpillar Foundation, supported by Caterpillar Inc. , continues working to alleviate poverty worldwide, including on the African continent, through a series of investments. Since 2010 alone, corporate social innovation has driven the Caterpillar Foundation to invest $30 million in African programs that address access to clean water, energy, empowering girls and women and microfinance, as well as food and shelter. The Foundation targets investments to organizations working in areas of policy that will enable sustainable growth and development across the continent.

“The Caterpillar Foundation is committed to finding ways to spur vibrant growth in Africa,” said Doug Oberhelman, Caterpillar Chairman & CEO. “Just as it has in other parts of the world, the Foundation is investing to help millions of Africans become economically self-sufficient. The investments announced today will provide essentials – water, energy and opportunity – to help families and communities build and grow.”

ONE Campaign – Advocacy and Public Policy
 

The Caterpillar Foundation is making an initial investment of $5 million with the ONE Campaign to address advocacy and public policy needs and the lack of access to power, which is a key factor in making it more difficult for Africa to lift itself out of poverty. The Caterpillar Foundation plans to announce an additional grant with ONE later this year.

“ONE is incredibly grateful for the Caterpillar Foundation’s investment in our work to help bring reliable supplies of energy to the nearly 600 million people across Africa who presently lack it,” said Michael Elliot, ONE Campaign CEO. “We’re also excited about continuing our partnership with the Foundation to enhance global advocacy and campaigning around the world that inspires citizens to use their voices and take action to end extreme poverty by 2030.”

Charity: water – Water Distribution Pipeline Extension
 

The Caterpillar Foundation is investing nearly $5 million to bring clean water to two countries in Africa through charity: water, whose mission is to bring clean and safe drinking water to every person in the world.

The investment will help fund an extension of a current water distribution pipeline into two underserved countries in Africa: Tanzania and Ethiopia. An extension of this pipeline and the addition of water access points are expected to benefit more than 126,000 Tanzanians and Ethiopians who currently travel long distances to collect water from unsanitary sources.

“Since 2010, charity: water, with the help of the Caterpillar Foundation, has worked to bring clean water to almost 100,000 people throughout Africa and beyond,” said Scott Harrison, charity: water CEO. “charity: water is honored to work with Caterpillar Foundation in such a significant way and looks forward to putting thousands more people on the path to prosperity together.”

United Nations Foundation – Clean Cookstove Initiative
 

As cooking and fuel collection largely remain a woman’s responsibility in many African countries, the health and economic effects of household air pollution from traditional cookstoves disproportionately impact girls and women. The Caterpillar Foundation is investing more than $1 million in energy and cookstoves programs to help address this deadly issue in Ghana, Kenya, Nigeria and Uganda.

Through a United Nations Foundation program, the money will help teach them about the dangers of traditional cooking and the benefits of adopting clean cooking solutions.

“By involving women and girls in the design and sale of clean cookstoves and fuels, we can increase project effectiveness and help scale the adoption of clean cooking products and services around the world,” said Radha Muthiah, executive director of the Global Alliance for Clean Cookstoves. “With the Caterpillar Foundation’s support, we can better integrate women into the value chain and, in doing so, improve the health and well-being of women across Africa.”

A common thread of all three programs is the fact they target the root causes of poverty, which is key to Caterpillar’s corporate social innovation strategy. Moving forward, the Caterpillar Foundation will increase its focus on similar programs throughout the countries of Africa.

Maritime Reporter October 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Odfjell Finalizes LPG/Ethylene Joint Venture Deal

Following Odfjell SE’s May 16, 2014 announcement declaring the signing of a definitive agreement to form a LPG/E shipping joint venture, Odfjell today announced

Chinese Manufacturing Expansion Affects Shipping Demand

The expansion of the Chinese Manufacturing Industry continued in September at unchanged pace as compared to the month before, BIMCO reports. The manufacturing industry

Marorka Opens Offices in Copenhagen

Marorka announced it is currently expanding following a substantial injection of funds. The expansion plan was approved and Marorka will extend its worldwide network in 2014.

Finance

Port City Plans for New Cargo Taxes Angers Kenya Govt, Shippers

Proposals by a local authority to impose new taxes on cargo at Kenya's main port has drawn opposition from the government and shippers, saying it will hike import

Odfjell Finalizes LPG/Ethylene Joint Venture Deal

Following Odfjell SE’s May 16, 2014 announcement declaring the signing of a definitive agreement to form a LPG/E shipping joint venture, Odfjell today announced

Norvestor to Become PG’s Largest Shareholder

Norvestor VI, L.P., a fund advised by Norvestor Equity AS, announced it has signed an agreement to invest in Ing Per Gjerdrum AS including its subsidiaries PG Hydraulics AS and PG Construction AS.

Energy

Leak May Sideline New Mexico Nuclear Waste Site

It may be five years before a nuclear waste dump in New Mexico closed by a radiation leak is fully operational again, and the facility will need at least $240

Imperial Oil Completes Maintenance at Kearl Oil Mine

Imperial Oil Ltd said on Tuesday it has completed a two-week major maintenance turnaround at its 110,000 barrel per day Kearl oil sands mine in northern Alberta.

Swissco Doubles Rig Fleet

SGX Mainboard-listed Swissco Holdings Limited an integrated, international marine services provider, today announced having completed the acquisition of four additional mobile offshore drilling units,

News

NAVTOR, AWT Agreement Marks Next Step in E-navigation

NAVTOR has signed an agreement with maritime weather routing specialist Applied Weather Technology (AWT) that will see the two companies integrating their services

Port City Plans for New Cargo Taxes Angers Kenya Govt, Shippers

Proposals by a local authority to impose new taxes on cargo at Kenya's main port has drawn opposition from the government and shippers, saying it will hike import

Odfjell Finalizes LPG/Ethylene Joint Venture Deal

Following Odfjell SE’s May 16, 2014 announcement declaring the signing of a definitive agreement to form a LPG/E shipping joint venture, Odfjell today announced

 
 
Maritime Security Naval Architecture Navigation Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1761 sec (6 req/sec)