Dangote weighs $70 billion Africa investment, 10,000MW plan

Aliko Dangote says Dangote Industries is considering raising its planned Africa investment programme under Vision 2030 to about $70 billion and pursuing a 10,000-megawatt power-generation intervention across the continent, potentially including Nigeria.

The proposals are ambitions described by Dangote, not confirmed projects. He did not provide details on financing, approvals, the specific projects involved or an implementation timetable in the reported remarks.

Dangote said the group initially planned to invest $50 billion in Africa by 2030 and is now looking at increasing that figure to about $70 billion. One report said the target had been $60 billion a week earlier, but the accounts do not explain the steps between the earlier figures.

He described the proposed 10,000-megawatt programme as a separate continental power-generation intervention. It is distinct from electricity Dangote Industries generates for its own operations. Dangote said the group currently has almost 1,500 megawatts of captive power, and that capacity could grow to between 4,500 and 5,000 megawatts by the completion of Vision 2030.

Dangote said unreliable electricity is a major obstacle to industrial growth...