Addis ababa: A 2.5 billion USD fertilizer complex investment agreement signed today in Addis Ababa, will position Ethiopia as Sub-Saharan Africa’s leading fertilizer producer, said Africa’s richest man, Aliko Dangote. In the presence of Prime Minister Abiy Ahmed, Ethiopian Investment Holdings and Dangote Industries Limited have signed a Fertilizer Complex Shareholder Investment Agreement.
According to Ethiopian News Agency, the landmark agreement will help develop a world-class urea fertilizer complex in Gode, Somali region of Ethiopia. With an investment of 2.5 billion USD, this mega project will produce up to 3 million metric tons of fertilizer annually, placing Ethiopia among the largest producers globally.
Dangote remarked on the significance of the agreement, highlighting Ethiopia’s position as the second country in Sub-Saharan Africa, after Nigeria, to produce urea. He noted that while countries like Mozambique and Tanzania have gas, they lack investors, which positions Ethiopia uniquely in the region.
The billionaire praised Ethiopian Prime Minister Abiy Ahmed for his pivotal role in advancing the deal, expressing gratitude for Ahmed’s commitment: “His Excellency said that I’m not going to sleep unless I come and build urea. So that’s why we’re here today.”
Dangote added that once the plant is operational, Ethiopia’s GDP will see a significant boost. He emphasized the importance of the milestone for the Ethiopian people, acknowledging Prime Minister Abiy’s leadership: “This is a major milestone, and I believe the Ethiopian people should truly appreciate what Prime Minister Abiy has done. He is a good friend and brother, a great leader who is focused.”
Dangote concluded by underscoring the persistence and dedication of Prime Minister Abiy over the past six months, which were crucial in making the investment possible.