Dangote to African leaders: Move beyond dialogue to decisive implementation

Aliko Dangote, president of Dangote Group, has asked African business leaders to move beyond dialogue to decisive implementation and tangible impact.

Speaking at the just concluded African Renaissance retreat in Rwanda, Dangote said despite significant challenges besetting the continent, its youthful population and abundant resources offer opportunities for substantial and inclusive growth.

“Additionally, we have 65% of the world’s arable land and 10% of the planet’s internal renewable freshwater sources,” he said.

“Together these present a myriad of opportunities for robust, inclusive growth that harness our abundant human potential and natural resources to increase prosperity, not just in Africa but across the globe.”

‘AFRICA IS EXPERIENCING TURNING POINT’

The billionaire entrepreneur said Africa is experiencing a significant turning point in its history.

The continent, according to Africa’s richest man, has the youngest and fastest-growing population in the world, rapidly expanding cities, and a growing acceptance of innovation and new technology, such as artificial intelligence.

He said the Dangote Group has expanded from Nigeria to 14 countries across the continent, spanning multiple sectors from cement to fertilisers, sugar to oil refineries, petrochemicals, agriculture, and more.

This, the entrepreneur, said is despite dealing with multiple barriers such as visas, inconsistent change in government policies, inadequate technical talent, lack of critical infrastructure, foreign exchange crisis, inflation, cost of capital, and other conflicts of differing dimensions.

“The good news is that despite these challenges, we have succeeded in building a pan-African Group that employs over 50,000 people and generates revenues that should exceed $30bn by the end of 2025,” he said.

Dangote, who initiated the retreat, said he had long contemplated bringing together a group of dedicated African business leaders to address the continent’s challenges, identify concrete solutions, and showcase Africa as a viable investment destination despite its obstacles.

He emphasised that the objective of the retreat was to present an opportunity for collective action in tackling various issues, including persistent conflicts, energy and food security, supply chain disruptions, debt crisis, and access to long-term concessional funding for development.

“This small private and high-level gathering to discuss these issues and align on how we will own and shape our narrative for development is long overdue,” Dangote said.

“With the foremost entrepreneurs on the continent, the leaders of the largest pan-African companies, those at the helm of the most important development institutions in Africa, our brothers and sisters leading global institutions, our leading investors, our pre-eminent civil society activists and a few of our most respected political leaders, this first step will be an opportunity to have a frank and honest dialogue amongst ourselves to consolidate what we see as our common ground.

“We are coming together not just as leaders in our respective institutions but as visionaries and catalysts for transforming our societies. It is our collective responsibility to play our role in transforming our continent. Nobody will do it for us but us – especially us in this room.” 

He expressed hope that the retreat would produce initiatives capable of significantly shaping Africa’s future and benefiting its people.