Addis Ababa: Dangote Group Chairman and CEO, Aliko Dangote, announced that the group will double its cement production capacity and expand into new investments in Ethiopia.
According to Ethiopian News Agency, Aliko Dangote briefed journalists today, revealing plans to increase the capacity of Dangote Mugher cement from 2.5 million tons to 5 million tons per annum by establishing a new greenfield grinding unit near Addis Ababa. The chairman and CEO added that the group will engage in new investments in Ethiopia’s sugar industry, leveraging Dangote’s experience in developing a 60,000-hectare sugar plantation in Nigeria to expand and enhance operations at Omo Kuraz Sugar Company in Ethiopia.
Once the nation’s natural gas reserves are developed, a urea production plant will also be considered in the future to help boost agricultural productivity in the country, he stated. Aliko Dangote commended the improving investment climate of Ethiopia, expressing his happiness in investing in the country and adding that Et
hiopia is Dangote’s best investment destination. The investor further emphasized the role of African business leaders in driving the development of the continent.
He stated, “Africa will be developed by Africans. Our political leaders need to strengthen the African Union; and we as business leaders must complement their efforts by deepening commercial linkages across the continent.”
On his part, Ethiopian Investment Holdings CEO Brook Taye noted Ethiopia’s commitment to fostering private sector growth. Brook said, “The Government of Ethiopia is pleased to see Dangote Group expanding its footprint in the country,” adding that Ethiopia is undergoing an economic transformation that prioritizes industrialization, investment, and job creation.
Furthermore, he stated that Dangote Group’s investment expansion is a signal of confidence in Ethiopia’s business environment, contributing significantly to the infrastructure and economic growth of the country. In this respect, the investments of the group, including the
expansion into Ethiopia’s sugar and fertilizer industries, would solidify its position as Africa’s leading cement producer and have a significant economic impact on job creation, agricultural productivity, and industrial development in the country.