More investments, less aid: Dangote tells global community

21 October 2014

Aliko Dangote has re-iterated the need for the global community to focus more on exploring investment opportunities rather than flooding the continent with aid.

He says a major problem affecting the influx of international trade to the continent is that most investors have little or no concrete knowledge about Africa, relying on skewed perceptions developed over time.

He described Africa as a continent blessed with abundant natural resources. “Within Africa we have an abundance of the resources sought by countries like China and others.

We really don’t need aid anymore in Africa, what we need is trade,” Dangote said in a recent CNN interview. He urged developed countries to invest and partner with businesses on the continent.

“You will make money and we’ll make money and it’s better for everyone, and the continent will experience real growth and development.” One of the major industries identified for investment is power.

“If we can take care of the infrastructure, mainly power, we can hit a growth rate of 7%,” he said. “I am not saying it is as good as elsewhere but investment in the continent comes with almost the highest ROI in the world.”

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