Africa’s richest man, Aliko Dangote, has announced plans to invest more than $10 billion in the continent’s power sector, a move he says will help tackle Africa’s chronic electricity deficit and drive economic transformation.
Speaking in an interview with Al Jazeera, the President of Dangote Group emphasized that reliable electricity is the backbone of industrial growth and social development.
“In the next three to four years, there will be a major transformation in Africa. That’s why we’re looking at power,” he said.
Dangote revealed that the group may redirect funds from other ventures, such as steel, to prioritize energy investments. “We want to invest over $10 billion alone in power,” he explained.
The billionaire highlighted the scale of the challenge, noting that more than 600 million Africans still live without access to electricity. “It is something we Africans should not allow—over 600 million of our people to remain in darkness,” he said.
Beyond economic growth, Dangote linked electricity access to political accountability, suggesting that leaders who deliver reliable power would not need to campaign extensively for re-election.
“When you deliver power, you don’t need to go for campaign,” he argued.He concluded by stressing that power is the key to unlocking Africa’s potential: “We will never, ever create growth without power. Power is growth.”
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