Aliko Dangote, billionaire and chief executive officer of Dangote Group, gestures as he speaks during a panel session at the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, Jan. 17, 2017. World leaders, influential executives, bankers and policy makers attend the 47th annual meeting of the World Economic Forum in Davos from Jan. 17 - 20. Photographer: Jason Alden/Bloomberg
Billionaire President and CEO Dangote Group, Aliko Dangote, has called on African business leaders to take charge in transforming the continent’s future.
Speaking at the African Renaissance Retreat in Kigali, Rwanda, Dangote outlined the continent’s vast resources and youthful population as key drivers for substantial growth and prosperity, despite significant challenges.
Dangote pointed out that Africa holds about 30% of the world’s mineral reserves, including gold, cobalt, and uranium, as well as 65% of the world’s arable land and 10% of global renewable freshwater sources. “Together, these present a myriad of opportunities for robust, inclusive growth that harness our abundant human potential and natural resources to increase prosperity, not just in Africa but across the globe,” he emphasised.
While acknowledging obstacles such as inconsistent government policies, lack of infrastructure, and foreign exchange crises, Dangote highlighted the success of Dangote Group, which has expanded from Nigeria to 14 African countries, employing over 50,000 people and aiming for revenues exceeding $30 billion by 2025.
The retreat, initiated by Dangote, aimed to bring together prominent African leaders to tackle challenges like energy and food security, supply chain disruptions, and the debt crisis. “This small private and high-level gathering to discuss these issues and align on how we will own and shape our narrative for development is long overdue,” Dangote said, urging the leaders present to move beyond dialogue towards decisive implementation.
The retreat’s participants included African business and political leaders, such as President Paul Kagame of Rwanda, former President Olusegun Obasanjo, and former President Ellen Johnson Sirleaf, who collectively resolved to foster regular high-level dialogue and initiatives that reduce logistics costs, ensure internet access for more Africans, and support gender equality in businesses.
The event, held from September 6-8, 2024, gathered over 40 influential figures, including global investors and leaders in African development, with the aim of turning dialogue into tangible actions that will shape Africa’s future.
Participants at the retreat included Amina J. Mohammed, Deputy Secretary-General of the United Nations; Prof. Benedict Oramah, President and Chairman of the Board of Directors of the African Export-Import Bank; former Liberian President Ellen Johnson Sirleaf; Adebayo Ogunlesi, Chairperson of Global Infrastructure Partners; former Ethiopian Prime Minister Hailemariam Dessalegn, Samaila Zubairu of the African Finance Corporation, Makhtar Diop of IFC, and Jeremy Awori, CEO of Ecobank Transnational Incorporated, amongst others.
Ozioma Samuel-Ugwuezi
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