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Investments: Dangote Fuelling Job-Led Growth Across Africa

Governor Adams Oshiomhole has commended President/Chief Executive of Dangote Industries Ltd, Aliko Dangote for driving job-led growth across African economies.

Following his multi-billion dollar investments in cement plants across Africa, which has created thousands of jobs, President/Chief Executive of Dangote Industries Ltd, Aliko Dangote, has been commended for driving job-led growth across African economies.

Governor Adams Oshiomhole of Edo State , while speaking to a cross section of international journalists at the commissioning of the 1.5 million metric tonnes per annum Dangote Cement Grinding Plant in Douala, Cameroon, lauded the Nigerian-born industrialist for providing massive job opportunities in several African countries.

According to him, Dangote has spurred the industrialisation of many African economies through the establishment of integrated cement plants which are geared towards making those countries self-sufficient in cement production.
He said the real sector is the engine room of any economy therefore investments in the sector will have a multiplier effect on other sectors leading to massive direct and indirect job opportunities.

Oshiomhole said that contrary to the jobless growth experienced in many economies, the growth resulting from Dangote’s investments is job propelled which is what African countries need. “Many of the so called entrepreneurs are mere traders whose business activities could hardly rejuvenate the economy and that is why when they reel out figures to indicate there is a growth it does not reflect on the economy and the people”, the governor noted.

He described Dangote as the true symbol of black capital, where capital for investment in Africa is expected to flow from Africans into African economies. He explained that it is better for the likes of Dangote to invest in Africa than African countries looking for loans which come with outrageous interest rates.

Also, former Governor of Ekiti State, Niyi Adebayo in his comments said that Africa needs home-grown investors like Aliko Dangote to become industrialized. According to him, investors like Dangote are at home in Africa. They understand the continent, its needs and where to invest. Dangote Cement is the continent’s foremost indigenous cement growth with presence in about 16 African countries.

The Cement group which strives to make Africa self-sufficient in cement production recently signed a $4.34 billion contract with Sinoma International Engineering Company Limited, a Chinese construction giant, for the construction of 11 new cement plants in 10 African countries, and Nepal in Asia.

Recently, the Company had inaugurated his cement plants in Ethiopia, Zambia and Cameroon with each capable of producing 1.5 million metric tones per annum.

The Company has also set machinery in motion to commission its plant in Tanzania after which it would be the turn of Senegal to host the commissioning of another 1.5 mmtpa capacity cement plant.

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