Faith Nyasuguta
Buoyed by the global impact of his 650,000 barrels per day refinery and petrochemical plant, Africa’s business mogul, Aliko Dangote, is advancing Dangote Industries’ reach to Angola, with a primary focus on the cement and oil sectors. This initiative aligns with Dangote’s broader strategy to expand his industrial presence across Africa through acquiring and managing onshore and offshore oil blocks.
During a recent visit to Luanda, Dangote launched a subsidiary to oversee investments in infrastructure, cement, and electricity. The move reflects Angola’s improving economic environment and Dangote’s commitment to regional growth. The subsidiary will manage operations such as the Lobito Refinery and investments in oil blocks, reinforcing Angola’s role in Dangote’s vision for Africa’s industrialization.
As part of the visit, Dangote held discussions with Angolan President Joao Lourenco and officials from the National Oil, Gas, and Biofuels Agency (ANPG) and Sonangol, Angola’s national oil company. These engagements underline the importance of collaboration and highlight Angola’s pivotal role in Dangote’s energy sector ambitions.
The expansion in Angola is a vital component of Dangote’s mission to drive industrial growth across Africa. By establishing a foothold in Angola’s evolving economy, Dangote Industries seeks to contribute to the country’s development while capitalizing on its economic recovery.
Dangote Industries already operates Africa’s largest cement plant and the continent’s largest oil refinery. Its diversified portfolio, which spans packaged foods, sugar, salt, and fertilizer, positions it as a central force in Africa’s economic transformation. The recent approval of a N300 billion ($180.5 million) bond issuance for Dangote Cement indicates the company’s robust financial standing and commitment to growth.
Dangote’s optimism about Angola’s economic resurgence was evident in his remarks after meeting local officials. “Angola’s economic situation has improved dramatically. We’re hearing encouraging reports, and this motivates our desire to invest,” he noted. This positive outlook is central to his decision to deepen investments in Angola.
The establishment of the subsidiary and the focus on cement and oil sectors reflect Dangote’s strategy to strengthen Africa’s industrial landscape. Through investments in Angola’s infrastructure and energy industries, Dangote Industries aims to support the country’s economic progress and position itself as a key player in Angola’s development.
As Angola’s economy continues to rebound, Dangote’s contributions are poised to play a crucial role in its advancement and prosperity.
About Aliko Dangote
At 67, Aliko Dangote stands out as the first individual to establish a private refinery in Nigeria. Recognized as Africa’s wealthiest man, he ranks 211th globally, boasting an estimated net worth of $27 billion, according to the Bloomberg Billionaires Index.
Dangote’s journey began in 1977 with a small trading business in Kano. Using a ₦500,000 loan from his uncle, he expanded to Lagos, laying the foundation for one of Africa’s largest conglomerates. Today, the Dangote Group operates internationally in countries such as Benin, Togo, Ghana, Gabon, Congo, the DRC, South Africa, Zambia, Cameroon, Ethiopia, Tanzania, and most recently, Angola.
Employing over 11,000 people in West Africa, the Dangote Group has transformed from a trading company into Nigeria’s largest industrial conglomerate. Its diverse portfolio includes leading divisions like Dangote Sugar Refinery, Dangote Cement, and Dangote Flour.
The group dominates Nigeria’s sugar industry and refinery market while its beverage, brewery, and confectionery businesses control nearly 70% of the market. Additionally, the conglomerate has made significant investments in real estate, banking, transportation, textiles, and agro-industries.
In 2022, Dangote added another milestone by assembling the Peugeot Nigeria factory in partnership with the Stellantis Group. The newly established Dangote Peugeot Automobiles Nigeria Limited (DPAN), headquartered in Kaduna, began operations with the launch of models such as the Peugeot 301, 508, 3008, 5008, and Landtrek.
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