Aliko Dangote, President of the Pan-African conglomerate Dangote Industries Limited (DIL), has issued a clarion call for heightened investments across the African continent to accelerate its rapid advancement and development.
Addressing attendees at the Africa CEO Forum in Kigali, Rwanda, Dangote emphasized Africa’s pivotal role as the future hub of global progress, urging a shift away from overreliance on raw material exports towards strategic investments in indigenous industries. He stressed the importance of nurturing domestic manufacturing capabilities to reduce dependency on imported consumer goods.
Dangote highlighted his firm commitment to Africa’s prosperity, citing over $25 billion invested in critical sectors such as fertilizers, petrochemicals, and refined products over the past seven years. Notably, he emphasized the significance of the Dangote Refinery, set to meet the escalating demand for petroleum products across multiple regions of Africa.
Expressing concern over Africa’s current trade dynamics, Dangote underscored the need to reverse the trend of exporting raw materials while importing finished goods, which perpetuates job loss and poverty on the continent.
The Africa CEO Forum, established in 2012, serves as a vital platform for African decision-makers to engage with each other and international investors, fostering business opportunities and facilitating economic growth across the continent.
