Dangote unveils $50bn Africa investment plan, vows to tackle continent’s energy deficit

The President and Chief Executive of Dangote Industries Limited, Aliko Dangote, says the company has earmarked $50 billion for investments between 2026 and 2030.

Dangote described the programme as part of a broader mission to demonstrate that African businesses can successfully execute transformative industrial projects at scale.

“The legacy we are trying to set up is how do we industrialise our continent?” billionaire businessman said during an interview with Financial Times Africa Editor, David Pilling.

According to him, the investment programme is designed not only to expand the company’s operations but also to inspire other African entrepreneurs and investors to pursue ambitious industrial ventures capable of reshaping the continent’s economic future.

Looking beyond the energy sector, Dangote identified inadequate power supply, weak financial systems, and underdeveloped industrial policies as major challenges constraining Africa’s economic growth.

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He described electricity as a fundamental requirement for industrialisation, particularly in manufacturing, mining and mineral processing, where reliable power is essential for value addition.

With an estimated 650 million Africans still lacking access to electricity, the Africa’s richest man stressed that addressing the continent’s energy deficit would unlock significant opportunities for job creation, industrial development, and economic diversification.

Questioning why a continent blessed with abundant natural resources, vast arable land, and a young population continues to grapple with poverty, Dangote emphasised that Africa possesses all the ingredients necessary to become a major industrial powerhouse.

Expressing optimism about the continent’s trajectory, the renowned businessman maintained that Africa’s industrial awakening has already begun.

“The journey has started. But now we’re awake, and we will make it happen,” he said.