Dangote group signs multi-billion dollars deals with Ethiopia, Zimbabwe
AFRICA’S richest man is spearheading what analysts are calling the continent's most ambitious indigenous industrialisation drive, with Aliko Dangote's conglomerate announcing over $3.5 billion in new investments across Ethiopia and Zimbabwe, following the successful launch of Africa's largest oil refinery. Ethiopian Investment Holdings and Dangote Group signed an agreement to develop a three-million-metric-ton-per-annum urea fertiliser production complex in Gode, Ethiopia, with project costs estimated not to exceed $2.5 billion. Under the partnership structure, Ethiopian Investment Holdings will hold 40% equity while Dangote Group maintains 60% ownership of what will become one of the world's five largest urea production facilities. The…
