Aliko Dangote, Chairman and CEO of Dangote Group, announced plans to double cement production capacity in Ethiopia, increasing Dangote Mugher cement output from 2.5 million tons to 5 million tonnes annually by building a new grinding unit near Addis Ababa.
The company also plans to invest in Ethiopia's sugar industry, leveraging its Nigerian experience at Omo Kuraz Sugar Company, and is considering a urea production plant to boost agricultural productivity once natural gas reserves are developed.
Dangote stressed that "Africa will be developed by Africans," urging collaboration between political and business leaders to strengthen the continent.
Brook Taye, the CEO of Ethiopian Investment Holdings, welcomed Dangote Group's expanded presence, stating it demonstrates confidence in Ethiopia's business environment and will contribute to the development of infrastructure, economic growth, job creation, agricultural productivity, and industrial growth.