Dangote to invest over $10bn in Africa’s power sector
Africa’s richest man, Aliko Dangote, says he plans to invest over $10bn in the continent’s power sector to address the electricity deficit affecting millio Read More: https://punchng.com/dangote-to-invest-over-10bn-in-africas-power-sector/
Dangote, Africa's richest man and President of Dangote Group, has announced plans to invest over $10 billion in the power sector across the continent over the next few years. In an interview with Al Jazeera, Dangote emphasized that reliable access to electricity is crucial for economic growth and development in Africa. He stated that the investment would be part of efforts to drive a major transformation in the region over the next three to four years.
Dangote explained that certain businesses, such as steel, may be canceled to allocate funds for the power sector. He highlighted that over 600 million Africans currently lack access to electricity, calling it a major obstacle to development. Dangote also linked electricity access to the performance of political leaders, suggesting that reliable power could reduce the need for extensive political campaigning.
He stressed that electricity is fundamental to economic growth and industrial development, emphasizing that "power is key" and "power is growth."
Written by urgent.news from Punch Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
