Aliko Dangote Plans $10 Billion Power Investment in Africa

Aliko Dangote, President and Chief Executive Officer of Dangote Industries Limited, announced plans to invest more than $10 billion in the power sector over the next few years to tackle Africa's electricity deficit. In an interview with Al Jazeera, he highlighted that access to reliable electricity is crucial for economic growth and development, noting that over 600 million Africans currently lack electricity.

Dangote stated, “We want to invest over $10 billion alone in power,” indicating a potential shift in focus from other ventures, such as steel. He also argued that reliable power could lessen the need for politicians to campaign extensively for re-election.

Furthermore, Dangote revealed that his fertiliser business is set to become the world's largest, with an initial public offering (IPO) planned for 2028. This announcement was made during an interview at the Qatar Economic Forum, where he discussed expanding production capacity across Africa.