Africa’s Richest Man to Invest Up to $50 Billion in U.S., Europe
- Aliko Dangote is tempted by renewable energy, petrochemicals
- Sees 60% of group’s investments being outside Africa in 2020
Aliko Dangote
Photographer: Jason Alden/BloombergThis article is for subscribers only.
Africa’s richest man, Aliko Dangote, plans to invest $20 billion to $50 billion in the U.S. and Europe by 2025, in industries including renewable energy and petrochemicals.
The 60-year-old Nigerian cement tycoon aims to move into these territories for the first time in 2020 after completing almost $5 billion of agricultural projects and an $11 billion oil refinery in his home country, he said in an interview with Bloomberg Markets Magazine this month.