Aliko Dangote, billionaire and one of the most prominent African investors, is considering Namibia as a potential destination for his group’s extensive investment portfolio.
Fresh off the completion of what is now the world’s largest oil refinery, Dangote hinted at his plans to expand into Namibia during a high-level meeting with President Netumbo Nandi-Ndaitwah in Windhoek this week.
The visit marks another step in the Dangote Group’s ongoing expansion into energy and industrial markets across over a dozen African countries, including South Africa, Ethiopia, Zambia, and Tanzania.
“Africa is Africa. It’s not about Nigeria alone. If we sit back, there is no entrepreneur; whether from Japan, the U.S., or elsewhere, who can come and build our continent for us,” Dangote said.
Dangote’s interest in the southern African nation aligns with its emerging green hydrogen strategy, energy ambitions, and a renewed focus on pan-African private sector partnerships.
He stressed that only Africans can truly develop the continent, urging the use of Africa’s untapped natural and human resources.
READ ALSO: PETROAN warns against Dangote’s involvement in fuel distribution
Most notably, he announced the completion of a 650,000-barrel-per-day oil refinery, now the largest in the world, alongside massive production capacities for industrial products:
-
1 million tonnes of polypropylene
-
Fertilizer capacity of over 3 million tonnes
-
Carbon black feedstock
-
LPG and sulphate chips
“We now have oil and gas. We’ve just finished building the largest refinery ever built, not just in Africa, but globally,” he said.
He highlighted his $620 million investment in South Africa as part of a broader strategy to promote economic self-reliance and intra-African trade, adding, “It’s not about Nigeria; it’s about Africa. We must show that it can be done, and done by us.”
In response, President Nandi-Ndaitwah emphasized the need for African-owned investments to drive value addition and job creation.
“We are too few to be poor, considering the resources we have; both human and natural. We don’t want to be seen as a rich continent with poor people. African entrepreneurs like you give hope to the young ones that it is possible.”
She invited Dangote to consider Namibia as a ‘home away from home’, stating the country is ready to support African-led investment projects with long-term local impact.
“When we meet successful African entrepreneurs like you, it is not just business; it is inspiration,” she said.
BusinessInsider
