Business

May 24, 2024

Dangote urges more investments to propel Africa’s economic growth

Dangote

By Peter Egwuatu

President, Dangote Industries Limited (DIL), Aliko Dangote, has called for increased investments in the African continent to foster its rapid growth and development.

Speaking at the gathering of private sector leaders in Africa, the Africa CEO Forum in Kigali, Rwanda, last week, Dangote emphasized that recent trends underscore Africa’s pivotal role as the future epicenter of global progress.

In a statement, Dangote cautioned against the continent’s overreliance on raw material exports, advocating instead, for strategic investments that will propel indigenous industries.

He urged African nations to resist the urge to export raw materials but to nurture domestic manufacturing capabilities so as to reduce dependency on imported consumer goods.

Dangote said, “Looking ahead, Africa holds the key to its greatness. I’m not merely investing money but dedicating my entire being to this cause. In Africa, possibilities are boundless. It is like a scratch card; you won’t know what is inside unless you scratch it. For some of us, despite the boom of the capital market in the US, we didn’t really participate, rather we invested in Africa.”