Investment Drive: Dangote To Inject $16b Into Development of Plants In Africa

Africa’s largest cement manufactirer, Dangote Cement Plc, plans to invest $16 billion in new projects and existing cement plants across Africa within the next three years.

 

Speaking at the commissioning of the Dangote Cement Plant, Ethiopia, on Thursday, June 4, President/CEO of the group, Aliko Dangote, said the investment is in line with the company’s long term vision to become one of the world’s biggest cement producers.

 

Dangote said: “We envisage that by the time we complete all our ongoing African projects, we will be on track to achieving our target.”

 

The busness tycoonadded that in achieving he target, the company is currently simultaneously setting up new cement plants and terminals across 16 African countries, including Ethiopia, which is the sixth offshore plant that has commenced operations outside Nigeria. Other countries where the company’s plants are currently running include Senegal, Cameroon, Ghana, South Africa, and Zambia.