Aliko Dangote, President and Chief Executive of Dangote Industries Limited, has announced plans to invest $50 billion across Africa between 2026 and 2030, with a focus on industrialisation and addressing the continent’s energy deficit.

Dangote said the investment programme was designed to expand the company’s operations while demonstrating that African businesses could execute large-scale industrial projects capable of transforming the continent’s economy.

He disclosed this during an interview with David Pilling, Africa Editor of the Financial Times.

“The legacy we are trying to set up is how do we industrialise our continent?” the billionaire businessman said.

Dangote identified inadequate electricity supply, weak financial systems and underdeveloped industrial policies as major obstacles to Africa’s economic development.

He stressed that reliable electricity was essential for manufacturing, mining and mineral processing, noting that improved power supply would enable African countries to process their natural resources locally, create jobs and diversify their economies.

With an estimated 650 million Africans still lacking access to electricity, Dangote said tackling the energy deficit would unlock significant opportunities for industrial growth and economic prosperity.

He questioned why Africa, despite its abundant natural resources, vast arable land and youthful population, continued to struggle with widespread poverty.

According to him, the continent possesses the resources and human potential required to become a major global industrial powerhouse.

Expressing confidence in Africa’s economic future, Dangote said the continent’s industrial transformation was already underway.

“The journey has started. But now we’re awake, and we will make it happen,” he said.