Dangote Expands Business with New Ventures in Energy and Shipping

Aliko Dangote, Africa’s richest man, is planning a major expansion of his business empire with three new multi-billion dollar ventures focused on electricity, petroleum pipelines, and shipping. This expansion follows the closure of six businesses previously operated by Dangote in various sectors, including textiles and telecommunications.

Central to this growth is the Dangote Petroleum Refinery, which currently has a capacity of approximately 700,000 barrels per day and is undergoing an expansion to double this capacity to 1.4 million barrels per day by 2029. Dangote Group intends to invest over $10 billion in the next three to four years to address Africa's chronic power shortages, potentially affecting some planned investments, such as in steel.

Additionally, a $3.5 billion petroleum-products pipeline project is planned to connect Namibia, Botswana, and South Africa, forming part of a broader network that could extend to Zambia and the Democratic Republic of Congo. This initiative aims to enhance the distribution of refined petroleum products across Africa.