Dangote Group President, Aliko Dangote, has announced plans to invest more than $10 billion in Africa’s power sector over the next three to four years, saying the group may cancel one or two businesses, including its steel project, to redirect funds into electricity.
Dangote disclosed this in an interview with Al Jazeera published on Monday, September 21, 2026, as he outlined plans to increase investment in electricity as part of efforts to support industrialisation and economic growth across Africa.
“We are going to invest in power. We want to, actually, there is one or two businesses that we might cancel, like steel, and we will put in the money. We want to invest over $10 billion alone in power,” Dangote said.
He said the proposed investment was driven by Africa’s electricity deficit, noting that more than 600 million people on the continent still lack access to electricity.
Dangote argued that reliable electricity was essential to industrial development, job creation and economic growth, saying Africa could not achieve sustainable development while depending heavily on imported goods.
“So power is key. We will never, ever create growth without power,” he said.
The billionaire said he expected significant economic transformation across Africa within the next three to four years, with improved electricity supply playing a central role in supporting businesses and attracting investment.
The planned investment would represent a major expansion of Dangote Group’s involvement in Africa’s energy sector. However, Dangote did not provide details on the countries where the proposed investments would be made, the projects involved or how much of the $10 billion would be committed to individual power projects.
The disclosure comes as Dangote Group continues to pursue major investments across refining, fertiliser, cement and other industrial sectors.
Dangote also said the group was considering listing some of its businesses to allow members of the public to take ownership stakes, while separately outlining expansion plans for its fertiliser business.
The latest power investment plan highlights the growing importance of electricity infrastructure to Dangote’s broader industrial strategy, as the group seeks to expand production and support manufacturing across Africa.
