President of Dangote Group, Aliko Dangote, says the group plans to invest more than $10 billion in Africa’s power sector over the next three to four years.
Dangote disclosed this in an interview with Al Jazeera, saying the investment was driven by the need to address Africa’s electricity deficit and support economic growth.
He said the group could redirect funds earmarked for some proposed businesses, including steel, into power projects.
“We want to invest over $10 billion alone in power,” Dangote said.
According to him, more than 600 million Africans still lack access to electricity, describing the situation as a major obstacle to the continent’s development.
Dangote said reliable electricity supply was essential for industrialisation, investment and broader economic growth.
“Power is key. We will never, ever create growth without power,” he said.
He also linked improved electricity supply to political accountability, arguing that governments that successfully deliver reliable power could gain public support without relying heavily on election campaigns.
The planned investment would further expand Dangote Group’s involvement in Africa’s energy infrastructure as the continent continues to face significant electricity supply challenges.