Dangote Group Founder on African Trade Transformation.
Bloomberg Reports: Dangote Group Founder on African Trade Transformation.
Aliko Dangote, Founder, President & Chief Executive Officer, Dangote Group speaks at the Qatar Economic Forum, powered by Bloomberg, with forum host and Executive Producer Zain Verjee about the trade transformation taking place in Africa. (Source: Bloomberg)
Some key take-aways
Dangote group is currently making a $19 Billion investment in single largest refinery in Africa. This refinery would create petroleum supply for Sub-Saharan countries, to alleviate the burden of importation.
Dangote group will also build mini-ports - for purposes importing and exporting of goods.
Currently, Dangote group has seen a recent in demand of in exportation of fertilizer, coming from South America, and North America. In addition Dangote group will continue to serve internal local markets demands as well as immediate domestic demands.
AfCFTA is treaty of Largest free trade area in the world.
55 countries are participating, which would impact $1.3 billion people in Africa, with a combined $3.4 Trillion GDP.
By 2034, there will be 1.1 billion working-class in Africa.
Africa will see an increase in exportation demands.
Africa will see an increase in job supply
Why invest in Africa, now?
60% arable land
Best climate in Africa, can grow almost anything, placing a focus on Agriculture.
Africa has enough to feed the rest of the world
Africa is able to supply the world, with energy and petro/chemical needs.
Africa will focus on increasing out manufacturing and agriculture production.