Dangote Industries Limited initially planned to invest approximately $50 billion across Africa under its Vision 2030 strategy. The company is now considering increasing the figure to about $70 billion.
The expansion could include a separate 10,000-megawatt power programme spanning several African markets, potentially including Nigeria. However, the company has not identified the proposed locations, disclosed how much the electricity programme would cost or provided an implementation timetable.
The plan is disclosed in a statement issued by Dangote Group after the businessman addressed journalists, entertainers, content creators and other creative-industry stakeholders from northern Nigeria.
“We initially planned to invest $50 billion. We are now looking at increasing that to about $70 billion in Africa,” Dangote said.
A separate 10,000MW electricity programme
Dangote distinguished the proposed continental power programme from the electricity his companies generate for their own factories.
Dangote Group currently produces almost 1,500MW of captive power for its industrial operations. The billionaire said that capacity could rise to between 4,500MW and 5,000MW by 2030 as the company expands its refinery, petrochemical, fertiliser and cement businesses.
“That is captive power—electricity for our own operations. Separately, part of the vision is to intervene in power generation with 10,000 megawatts across Africa, potentially including Nigeria,” Dangote said.
The 4,500MW-to-5,000MW target would principally support Dangote’s businesses, while the proposed 10,000MW programme represents a wider intervention in Africa’s electricity market.
It is not yet known whether Dangote Group would construct and operate the power plants itself, work with governments or private partners, or sell electricity through national grids.
Dangote’s expansion now stretches across Africa
The higher investment ambition comes as Dangote pursues some of Africa’s largest industrial and energy projects.
In September, the company broke ground on a proposed $16 billion refinery in Lamu, Kenya. The plant is expected to process 700,000 barrels of crude oil daily and is scheduled for completion in 2030. Dangote has offered East African governments a combined 30% interest in the project.
In November, the group launched a $2.5 billion fuel-storage and pipeline development in Namibia. The proposed infrastructure includes a 600-million-litre storage terminal and could eventually connect Namibia with Botswana, Zimbabwe, Zambia and the Democratic Republic of Congo.
These projects fit Dangote’s effort to build a connected African network covering production, refining, storage and distribution.
Electricity could become the next layer of that strategy. Unreliable power remains a major cost for African manufacturers, while businesses in several countries depend on diesel generators to maintain production.
Dangote said affordable and dependable electricity would be particularly important for small and medium-sized businesses.
“When you generate electricity using diesel or petrol, it becomes very difficult to make money,” he said.
Source: africa.businessinsider.com
