Aliko Dangote, Africa’s richest businessman, is investing $400 million to expand cement production in Ethiopia. This project adds a second production line at the Mugher cement plant, doubling its annual output from 2.5 million to 5 million tons......CONTINUE READING THE ARTICLE FROM THE SOURCE>>>>>
The Mugher plant, which began operations in 2015, has faced security challenges, including attacks on company property and the tragic killing of three employees in 2018. Despite these difficulties, Dangote remains committed to Ethiopia, viewing it as a key market in his company’s African expansion strategy.
Dangote Cement, which operates in 10 African countries, is increasing its total production capacity to 55 million tons per year across the continent. In 2015, the company invested $19 million to add a bagging plant at the Mugher facility, enabling it to produce 120 million cement bags annually. The latest expansion includes a new grinding unit near Addis Ababa, further boosting production capacity.
Dangote describes Ethiopia as his “best investment destination,” emphasizing its improving business climate. He highlights the role of African business leaders in driving the continent’s economic growth, stating, “Africa will be developed by Africans. As our political leaders work to strengthen the African Union, we must complement their efforts by deepening commercial ties across the continent.”
Dr. Brook Taye, CEO of Ethiopian Investment Holdings, welcomes the investment, noting Ethiopia’s focus on industrialization and private-sector growth. He states that this project reinforces confidence in Ethiopia’s business environment and will significantly contribute to infrastructure and job creation.
Beyond cement production, Dangote Group is strengthening its presence in Ethiopia’s sugar industry by enhancing operations at Omo Kuraz Sugar Company. The company is also considering establishing a urea production plant, depending on Ethiopia’s natural gas development, to support agricultural productivity.
With an estimated net worth of $28 billion, according to the Bloomberg Billionaire Index, Dangote continues to make strategic investments that position his company as a major player in Africa’s industrial landscape.