Africa’s richest man, Aliko Dangote, has unveiled an ambitious $50 billion investment programme spanning 2026 to 2030, as he pushes for accelerated industrialisation and improved access to electricity across the continent.
The President and Chief Executive of Dangote Industries Limited said the initiative would expand his conglomerate’s operations and encourage African entrepreneurs to pursue large-scale projects capable of transforming their economies.
Dangote outlined the vision during an interview with David Pilling, Africa Editor of the Financial Times, stressing that Africa must move beyond exporting raw materials to building industries that create jobs and generate greater economic value.
He identified unreliable electricity, weak financial systems and inadequate industrial policies as major barriers to the continent’s development.
According to him, dependable power supply is critical to expanding manufacturing, mining and mineral processing, particularly as African countries seek to maximise the value of their natural resources.
Dangote noted that an estimated 650 million people across Africa still lack access to electricity, describing the energy shortfall as a major obstacle to economic growth and industrial expansion.
He argued that the continent’s vast natural resources, agricultural potential and youthful population should provide a solid foundation for economic transformation rather than persistent poverty.
The industrialist said addressing these structural challenges could stimulate job creation, encourage investment and reduce Africa’s dependence on imported manufactured goods.
He also expressed confidence that the continent was beginning to embrace the industrial transformation needed to compete more effectively in the global economy.
“The journey has started. But now we’re awake, and we will make it happen,” Dangote said.