Dangote Seeks Expansion Of Trade, Investments In Africa

President/chief executive of the Dangote Industries Limited, Aliko Dangote has called for greater integration of African economies and expansion of trade and investments across the continent to stimulate growth and create employment opportunities.

Speaking at the ongoing Intra-African Trade Fair 2023 holding in Egypt, Dangote, who was represented by the Group executive director, Stakeholder Management and Government Relations, Engr. Ahmed Mansur, expressed commitment to participating and supporting both the African Continental Free Trade Agreement (AfCFTA) and the Intra-African Trade Fair.

According to him, “the Dangote Group is one of the largest conglomerates in Africa with investments in several sectors and across 14 countries in Africa. The integration of African economies and the expansion of trade and investments within the continent is therefore extremely important to our group because it provides opportunities for continuous growth and expansion. This is why we support the establishment of the African Continental Free Trade Agreement (AfCFTA) and indeed the Intra-African Trade Fair.

“We believe that both the AfCFTA and the IATF are important milestones in the trajectory of Africa’s economic growth and development and we as a major stakeholder in that development are therefore committed to participating and supporting both the AfCFTA and the Intra-African Trade Fair.”

Dangote is a major sponsor and event partner of this year’s trade fair, organised by African Export-Import Bank (Afreximbank).

Also speaking on the sidelines of the event which drew interested participants from across Africa and beyond, Mansur affirmed that Dangote, which is one of the event partners, has a responsibility to help promote entrepreneurship and development in Africa; reason why the group has its presence in around 14 countries across the continent, and why it is collaborating and participating at the highest level of the IATF 2023.

“For an event of this magnitude, Dangote has a responsibility because it is recognised all over Africa. You will be surprised that perhaps the Dangote Group in terms of its capacity as a leading entrepreneur in Nigeria is recognised more widely in other African countries. And so, we have the responsibility to carry our brand and to carry that name very prominently,” he said.

The third Intra-African Trade Fair (IATF2023) which was organised by the African Export-Import Bank (Afreximbank), in collaboration with the African Union and AfCFTA Secretariat, brought together 1,600 exhibitors drawn from over 75 exhibiting countries, with around 35 000 conference delegates, trade visitors and the media among the participants who thronged the event venue in Cairo.

Dangote Industries Limited (Dangote Group) is one of Africa’s largest industrial conglomerates, and a key investor in the Nigerian economy. It is an integrated group with an annual turnover over $4billion. The Group’s interests include cement, sugar, salt, fertiliser, agriculture, transport, packaging and real estate, with ongoing new projects in the oil and gas, petrochemical, and steel sectors.

The trade fair, with the theme ‘Connecting African Markets’, is billed to promote greater trade among African member-countries, drive regional integration, and spur the speedy implementation of the African Continental Free Trade Area (AfCFTA) Agreement for the benefit of all Africans.