Precious Anga
Lagos — Africa’s power deficit could attract more than $10 billion in new investment from the Dangote Group as its President, Aliko Dangote, plans a major expansion into the continent’s electricity sector over the next three to four years.
Dangote disclosed the plan in an interview with Al Jazeera, saying the investment would target the power sector as part of efforts to support Africa’s economic and industrial development.
“We want to invest over $10 billion alone in power,” Dangote said, explaining that the group could redirect funds from other planned ventures, including steel, towards electricity investments.
The businessman said reliable electricity remained fundamental to economic growth, industrial production and broader development across the continent, where more than 600 million people still lack access to electricity.
“It is something that we Africans should not really allow. Over 600 million of our people to remain in darkness,” he said.
Dangote said the planned investment formed part of what he expects to be a significant transformation across Africa within the next three to four years, with electricity supply positioned as a key driver of that change.
The proposed investment comes against a persistent electricity-access gap across Africa. The United Nations Economic Commission for Africa says more than 600 million Africans still lack access to electricity, representing almost half of the population of sub-Saharan Africa.
Dangote also linked reliable electricity supply to the performance of governments, arguing that leaders who deliver dependable power would demonstrate tangible results to citizens.
“When you deliver power, you don’t need to go for campaign when you’re going for the election,” he said.
He maintained that electricity remained central to industrialisation and sustained economic expansion, stressing that the continent would struggle to achieve stronger growth without addressing its power deficit.
“So power is key. We will never, ever create growth without power,” Dangote said.
