DANGOTE GROUP PLANS OVER $10BN POWER INVESTMENT

Dangote Group plans to invest more than $10bn in Africa’s power sector over the next few years as part of efforts to address electricity shortages and support industrialisation.

Group President, Aliko Dangote, disclosed the plan in an interview, saying the investment would focus on improving power supply across the continent.

Dangote said the group was considering redirecting funds from one or two businesses that it may discontinue towards the power sector. He also indicated that the investment could be made over the next three to four years.

The planned investment is aimed at addressing the electricity deficit that continues to affect industrial activity across Africa.

Dangote said reliable electricity was essential to reducing production costs and supporting the expansion of manufacturing and other industries.

The proposed investment comes as the Dangote Group continues to expand its industrial operations across sectors including cement, fertiliser, refining and petrochemicals.

The group’s power plans are expected to complement its existing investments in energy-intensive industrial operations while supporting efforts to improve electricity availability.

Dangote has previously highlighted the impact of inadequate power supply on African businesses and the need for greater private-sector investment in electricity generation and related infrastructure.

The proposed investment would make power one of the group’s major areas of capital allocation as it seeks to support industrial development and address energy challenges across African markets.