The Dangote Group plans to commit more than $10bn to investments in Africa’s power sector within the next three to four years, its President, Aliko Dangote, has said.
Dangote disclosed the plan during an interview with Al Jazeera, stressing that access to dependable electricity was essential to achieving sustained economic growth and industrial development on the continent.
According to him, the conglomerate is considering diverting funds from some planned businesses into electricity projects, citing the importance of power to Africa’s development.
“We are going to invest in power. We want to, actually, there is one or two businesses that we might cancel, like steel, and we will put in the money. We want to invest over $10 billion alone in power,” he said.
Dangote said he expected significant economic changes across Africa over the next few years and identified power supply as one of the areas that would receive increased attention from the group.
“I’m telling you, in the next, three, four years, there will be a major transformation in Africa. And that’s why we’re looking at power, for example,” he said.
He expressed concern over the continent’s electricity access gap, noting that more than 600 million Africans still lacked access to electricity.
“It is something that we Africans should not really allow. Over 600 million of our people to remain in darkness,” Dangote said.
The businessman argued that closing the electricity gap would have far-reaching economic consequences, particularly for manufacturing, investment and other productive activities.
He said reliable electricity was indispensable to economic expansion, adding, “So power is key. We will never, ever create growth without power.”
Dangote also spoke about the political implications of improved electricity supply, saying governments that successfully provide reliable power could significantly improve citizens’ perception of their performance.
He argued that political leaders who deliver tangible improvements in electricity supply would have a stronger record to present to voters during elections.
“You know, as some politicians, if they work hard, they have a plan, when you deliver power, you don’t need to go for campaign when you’re going for the election,” he said.
He added, “So that’s why they say, power is growth.”
The proposed investment comes as African countries continue to face challenges relating to electricity generation, transmission and distribution, with inadequate access to reliable power constraining economic activity in several parts of the continent.
For Dangote Group, the plan represents a potential expansion of its investments beyond its established interests and into large-scale energy infrastructure, with the group positioning electricity supply as a key driver of its anticipated economic transformation across Africa.
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