Just days after launching a $2.5 billion fertilizer plant in Ethiopia, Africa’s richest man, Aliko Dangote, is now exploring new business opportunities in Senegal — signaling the next phase of his company’s regional expansion strategy.
The Nigerian billionaire met with Senegal’s President Bassirou Diomaye Faye in Dakar this week to discuss potential investments in the country’s energy, manufacturing, and fertilizer sectors.
The meeting, which also included Afreximbank President Okey Oramah, focused on strengthening industrial development and advancing private-sector participation — a core goal of Senegal’s 2024–2029 National Development Strategy.
Dangote, who already operates a 1.5-million-tonne cement plant in Pout, Senegal, reaffirmed his commitment to deepening ties with the country.
He commended the government’s “Invest in Senegal Forum,” expressing optimism about new opportunities that could accelerate industrial growth and attract more regional investors.
According to the Bloomberg Billionaires Index, Dangote’s wealth currently stands at $29.1 billion.
His growing portfolio across Africa — from cement and fertilizers to oil refining — continues to shape him into a key player in the continent’s industrialization drive.
Don’t Miss This: NNPC Attributes Cooking Gas Price Surge to PENGASSAN Strike The Senegal visit follows the groundbreaking of Dangote Group’s $2.5 billion fertilizer plant in Ethiopia, a project expected to produce three million tonnes of urea annually in partnership with Ethiopian Investment Holdings.
Ethiopian Prime Minister Abiy Ahmed hailed the plant as a symbol of “unity and shared progress.”
In Côte d’Ivoire, the conglomerate is nearing completion of a $200 million cement grinding facility in the Attingué industrial zone near Abidjan.
The 3-million-tonne-per-year plant, spread across 60 hectares, is slated for commissioning in the third quarter of 2025 — one of Dangote’s most significant ventures in Francophone West Africa.
Senegal’s economy is projected to grow by 8.4% in 2025, up from 6.7% this year, supported by renewed investor confidence following a brief post-election slowdown.
The rebound is being driven by increased activity in the cement, energy, and manufacturing sectors — areas that align with Dangote’s investment priorities.
Through its local subsidiary, Dangote Cement Senegal S.A., the company has invested roughly ₦64.8 billion ($44 million).
Despite a 29% drop in cement sales in the first half of 2025 due to temporary political disruptions, Dangote remains confident in Senegal’s long-term industrial potential.
The billionaire’s renewed interest in the West African nation underscores his broader ambition to solidify Dangote Group’s influence across Africa — driving growth through industrial capacity, cross-border trade, and regional integration.
