Dangote outlines investments of up to $26 billion annually, while the Egyptian Exchange explores ways to enable local investors to trade shares in the group’s companies.
Aliko Dangote, founder and chairman of Dangote Group, has outlined an ambitious expansion strategy through 2030, positioning Egypt as a key component of the group’s investment ecosystem and reaffirming its commitment to accelerating industrial development across Africa.
Speaking at a meeting organized by the Egyptian Exchange (EGX) on Thursday, Dangote said Egypt represented a central and active part of the group’s investment plans.
He stressed that Africa must move beyond exporting unprocessed raw materials and focus on developing domestic manufacturing capabilities, creating jobs and retaining greater economic value within the continent.
The group plans to invest between $10 billion and $26 billion annually across energy, petrochemicals, construction materials and agriculture. Dangote said the strategy aims to generate millions of jobs and reduce Africa’s dependence on imported manufactured goods.
Refining, energy and industrial expansion
Dangote said the group’s refinery had stabilized at a record production rate of 700,000 barrels per day. Its broader expansion plans include a 530-kilometre subsea gas pipeline and electricity generation capacity of up to 10,000 megawatts to support industrial development in several African countries, including Zambia.
In petrochemicals, the group is developing what Dangote described as the world’s largest linear alkylbenzene plant, with an annual production capacity of 400,000 metric tons. It also intends to expand its urea and polyethylene operations.
The group aims to increase annual cement production to 100 million metric tons by 2030, further strengthening its position as Africa’s leading cement producer.
Agriculture is another priority, with plans to expand sugar production and invest in farming to support food security and make better use of underutilized land.
Dangote emphasized the need for flexible, affordable financing and integrated industrial zones equipped with essential infrastructure, including electricity and water, to attract investment and support manufacturing.
EGX studies access to Dangote shares through depositary receipts
Meanwhile, the Egyptian Exchange is examining the feasibility of enabling Egyptian investors to trade shares in Dangote Group companies through Egyptian Depositary Receipts (EDRs).
EGX Chairman Omar Radwan said the exchange was exploring cooperation with the group to assess the regulatory and operational requirements for the proposed mechanism.
The initiative could give Egyptian investors greater access to West African industrial and commodity markets, diversify investment portfolios and strengthen financial links between African markets. The proposal remains under study.
Afreximbank calls for broader African participation
George Elombi, president and chairman of the board of the African Export-Import Bank (Afreximbank), said the proposed share offering could provide African investors with an opportunity to own stakes in major businesses and benefit from their growth.
Speaking at the EGX event, Elombi highlighted the importance of mobilizing African capital to finance industrial development and distribute the benefits of economic growth more widely.
He urged Egyptian investors to consider participating in the offering, including through smaller investments, and called on African media to raise awareness of opportunities to invest in the continent’s businesses.
Elombi added that Afreximbank supports initiatives that strengthen economic independence and build a more resilient African economy, emphasizing the role of financial institutions in supporting long-term development.
