Gabon president invites Dangote to invest in cement, fertiliser production

Aliko Dangote, the chairman of Dangote Industries Limited, has been invited by President Brice Oligui Nguema of Gabon to invest in cement and fertiliser production in the country.

According to a statement by the media office of Dangote Group, the billionaire was invited to explore investment opportunities in cement and fertiliser (urea and phosphate).

“President Brice Oligui Nguema of Gabon has invited the President and Chief Executive Officer of Dangote Industries Limited (DIL), Aliko Dangote to invest in Cement and Fertiliser production in Gabon,” Dangote Group said.

“The President urged Dangote to explore potential investment opportunities in the country’s cement and fertilizer sectors, specifically urea and phosphate production.”

According to the statement, Dangote conversed with Nguema and other top government officials during the visit.

“The talks focused on how Dangote Industries could contribute to Gabon’s economic growth by establishing cement and fertilizer plants, which are vital for the country’s infrastructure development and agricultural productivity,” Dangote Group said.

“President Nguema expressed enthusiasm about the potential partnership, highlighting Gabon’s commitment to creating a conducive environment for foreign investments. 

“He noted that the collaboration with Dangote Industries would bring significant benefits, including job creation, technology transfer, and enhanced industrial capacity.”

‘INVESTING IN GABON ALIGNS WITH DANGOTE INDUSTRIES GOALS’

On his part, Dangote underscored his company’s dedication to fostering economic development in the continent.

He emphasised that investing in Gabon’s cement and fertilizer sectors aligns with Dangote Industries’ strategic vision of expanding its footprint and supporting sustainable development across Africa.

“We are excited about the opportunity to invest in Gabon. Our goal is to contribute to the country’s economic diversification and industrialization efforts,” Dangote said.

“By leveraging our expertise in cement and fertilizer production, we aim to support Gabon’s infrastructure and agricultural sectors.”

Dangote Group said the visit signifies a significant step towards deepening economic ties between Nigeria and Gabon.

The company said as Dangote Industries continues to explore and finalise investment opportunities, both nations anticipate mutual benefits that would propel economic progress and regional integration.

“The potential investment by Dangote Industries in Gabon is expected to bolster the country’s industrial landscape, ensuring a steady supply of essential materials for construction and agriculture,” the statement reads.

“This development aligns with President Nguema’s vision of transforming Gabon into a diversified and self-sustaining economy.

“In the coming months, further discussions and assessments will be conducted to finalize the investment plans. The collaboration between Dangote Industries and the Gabonese government holds promise for a robust partnership that will significantly impact Gabon’s economic landscape.”

The invitation comes days after Dangote announced he will halt investment in Nigeria’s steel industry. 

On July 21, the businessman said Dangote Industries would no longer continue with plans to enter Nigeria’s steel industry to avoid being accused of wanting to be a monopoly.

Dangote’s threat comes two months after his company said it was making plans to invest in the steel industry and expand the economy.