Aliko Dangote eyes Namibia for the next big investment move amid pan-African expansion
Aliko Dangote, billionaire and one of the most prominent African investors, is considering Namibia as a potential destination for his group's extensive investment portfolio.
Billionaire Aliko Dangote considers Namibia for expanding his investment portfolio.
His investment approach emphasizes Africa-wide economic self-reliance and development.
Namibia is implementing strategies in green hydrogen and private sector collaborations.
Fresh off the completion of what is now the world's largest oil refinery, Dangote hinted at his plans to expand into Namibia during a high-level meeting with President Netumbo Nandi-Ndaitwah in Windhoek this week.
The visit marks another step in the Dangote Group 's ongoing expansion into energy and industrial markets across over a dozen African countries, including South Africa, Ethiopia, Zambia, and Tanzania.
' Africa is Africa. It's not about Nigeria alone. If we sit back, there is no entrepreneur; whether from Japan, the U.S., or elsewhere, who can come and build our continent for us. ' The billionaire said.
Why Namibia?
Dangote's interest in the southern African nation aligns with its emerging green hydrogen strategy and energy ambitions, as well as its renewed focus on pan-African private sector partnerships.
Most notably, he announced the completion of a 650,000-barrel-per-day oil refinery, now the largest in the world, alongside significant production capacities for polypropylene, fertilizer, LPG, and other industrial products.
He stated, " We now have oil and gas. We've just finished building the largest refinery ever built, not just in Africa, but globally."
'We produce one million tonnes of polypropylene, carbon black feedstock, LPG, sulphate chips, and a fertilizer capacity of over three million tonnes; the second largest in the world." He added.
The billionaire investor highlighted his $620 million investment in South Africa as part of a broader strategy to promote economic self-reliance and intra-African trade, stating,"It's not about Nigeria; it's about Africa. We must show that it can be done, and done by us."
In response to his comments, President Nandi-Ndaitwah emphasized the need for African-owned investments to drive value addition and job creation.
She said: " We are too few to be poor, considering the resources we have; both human and natural."
"We don't want to be seen as a rich continent with poor people. African entrepreneurs like you give hope to the young ones that it is possible." She added.
In a potential investor-wooing effort, she invited Dangote to consider Namibia as "a home away from home" and affirmed the country's readiness to support African-led investment projects with long-term local impact.
'When we meet successful African entrepreneurs like you, it is not just business; it is inspiration,' she said. 'Namibia is ready for this kind of partnership.' Nandi-Ndaitwah said.
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