The President of Dangote Group, Aliko Dangote, has unveiled plans for a substantial investment of more than $10 billion in the power sector across Africa within the next three to four years. He emphasized the critical role of electricity in driving economic transformation on the continent during a recent interview with Al Jazeera.
Dangote believes this investment will catalyze a major transformation in Africa’s socio-economic landscape. He mentioned that the group might reallocate funds originally earmarked for other business ventures, including steel, towards electricity initiatives.
“We want to invest over $10 billion alone in power,” Dangote stated, highlighting the stark reality of Africa’s electricity deficit, which leaves more than 600 million people without access to reliable power. He remarked, “It is something that we Africans should not really allow. Over 600 million of our people to remain in darkness.”
By expanding access to electricity, Dangote argued, the initiative would not only benefit households but also stimulate industrial activities, attract investment, and promote overall economic growth in the region.
