Dangote Group Targets $60 Billion Investment in Africa

Aliko Dangote, President of Dangote Group, announced an increase in his investment target for Africa's industrialisation from $50 billion to $60 billion by 2030. This announcement was made on November 4, 2026, during the groundbreaking ceremony for a $2.5 billion fuel storage and pipeline project near Walvis Bay, Namibia.

The project includes a fuel storage facility and a 1,700-kilometre pipeline extending through Botswana and South Africa, aimed at improving petroleum supply across southern Africa and enhancing access to fuel in landlocked countries. Dangote emphasized that the group is backing its expansion ambitions with actual investments.

The new facility will have a storage capacity of approximately four million barrels and is expected to reduce fuel supply costs for landlocked countries. Construction is projected to take no more than 18 months.

This initiative is part of Dangote Group's broader strategy to develop petroleum distribution infrastructure across Africa, addressing supply challenges and strengthening energy security.