President of Dangote Group, Aliko Dangote, has announced plans to invest more than $10 billion in Africa’s power sector over the next three to four years, saying reliable electricity is critical to the continent’s economic transformation.
Dangote disclosed this in an interview with Al Jazeera, where he said the investment could involve redirecting funds from some planned businesses, including steel, into electricity projects.
“We are going to invest in power. We want to actually cancel one or two businesses, like steel, and put the money into power. We want to invest over $10 billion alone in power,” he said.
Dangote said Africa’s electricity deficit remains one of the continent’s major development challenges, noting that more than 600 million Africans still lack access to electricity.
“It is something that we Africans should not really allow — over 600 million of our people to remain in darkness,” he said.
According to him, expanding reliable electricity supply would support industrial activity, attract investment and drive broader economic growth.
“So power is key. We will never, ever create growth without power,” Dangote stated.
He also linked electricity supply to political leadership, saying governments that successfully provide reliable power could gain stronger public support.
“As some politicians, if they work hard and have a plan, when you deliver power, you don’t need to go for campaign when you’re going for the election,” he said.
The proposed investment signals Dangote Group’s intention to expand its involvement in Africa’s energy infrastructure as the continent continues to face major electricity access and supply challenges.
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