Recession: Dangote explores investment opportunities in Zambia

In what seems like searching for greener pastures, the President of the Dangote Group and Africa’s richest man, Alhaji Aliko Dangote has expressed the desire of his group to further consolidate on his existing investments in Zambia and other African countries by exploring opportunities in the energy and agriculture sectors.

Dangote spoke at the weekend when he paid a courtesy call on President Edgar Lungu of Zambia to express his gratitude for the enabling environment that the country continued to offer investors at every level.

TheNewsGuru.com reports that the business mogul has a cement factory running in Zambia in which several hundreds of Zambia residents are gainfully employed.

Dangote advocated for a more business friendly environment in the country in order to facilitate development and the employment of its teeming youths.

In his words: “I am here not only to explore investment opportunities and consolidate our existing business relations, but also to congratulate your Excellency for your victory in the last general elections. I wish you many years of success as you guide your nation to greater heights and prosperity,” he told President Lungu.

“During your tenure, you need to implement agricultural practices which will ensure that yields per hectare are high and competitive. Zambia’s natural advantage in the export market is the readily available captive market that consists of eight neighbouring countries and other nations in the great lakes region,” he said.

Dangote observed that energy is a critical requirement for economic development and so it is important that Zambia expands its energy supply footprint both for local consumption, and export to regional markets.

“We are going to explore investment opportunities in the energy sector and perhaps look at the viability of existing petroleum refinery facilities”, he added.

President Lungu said his government was determined to put in place policies that will be investor friendly and guarantee conducive and enabling environment for the businesses to thrive.

He then instructed the Minister of Finance and all relevant government ministries and agencies to ensure that the process of facilitating investments in job-creation enterprises is efficient.

“Agriculture is the major thrust in Zambia’s economic diversification drive and among our top priorities, which include the provision of affordable food, fuel and farmer inputs.

“I admire your tenacity and commitment to invest within Africa because that is what improves the brotherhood between nations. We will support you and facilitate your investments in Zambia,” assured the President, adding that, “we need to put our hands together to help our people out of poverty”.

TheNewsGuru.com reports that the billionaire businessman is also renowned for his philanthropy and enormous investment drive across the continent.