Addis ababa: Africa’s richest man, Aliko Dangote, who has sealed a 2.5 billion USD partnership with the Ethiopian government to build one of the world’s largest fertilizer plants, hailed Ethiopia as a key hub for fertilizer investment. 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 nature of the investment is to produce urea, about 3 million metric tons annually, marking a significant milestone as it exceeds Ethiopia’s current consumption. Dangote emphasized the scale of the project, comparing it to Nigeria’s urea production, which ranks as the second-largest in the world. The project aims to be completed within three years, with Ethiopia’s abundance of natural gas cited as a critical factor in the decision.
Dangote praised Ethiopia’s efforts under Prime Minister Abiy Ahmed’s leadership to revolutionize and expand the agriculture sector. He described the Prime Minister as a visionary leader committed to boosting agriculture and ensuring prosperity for Ethiopia. Dangote’s company plans to produce a range of fertilizers, positioning Ethiopia as a net exporter.
In addition to fertilizer, Dangote expressed interest in expanding his company’s cement operations and exploring opportunities in gold. He emphasized that Ethiopia is opening up for business and investment, asserting that it is the duty of Africans to support Ethiopia’s success. Dangote highlighted his commitment to contributing to Ethiopia’s growth and prosperity, viewing himself not as a foreigner but as an African with a vested interest in the continent’s development.