Dangote Opens 2.5m Mtpa Plant in Ethiopia

Related stories

Amid Several National Grid Collapse, Power Minister Adelabu Unveils Ambition to Succeed Makinde in Oyo

Kicks Off State-wide Consultations By Abiola Olawale Minister of Power,...

Osun Guber: Davido’s Uncle, Adeleke Quashes Defection Rumours

Says he stands firm with PDP By Abiola Olawale Osun...

Zamfara 2027: Intrigues As ADC Extends Invitation to Governor Dauda Lawal

Governor Weighs options In what has been described as...

Natasha Akpoti-Uduaghan: Senate Stipulates Terms for Reinstatement After Court’s Ruling

By Abiola Olawale The Nigerian Senate has outlined conditions for...

With a prospect of about 7000 job opportunities in Ethiopia, President of Dangote Group, Aliko Dangote yesterday opened his 2.5million mtpa cement plant with a charge on African leaders to make environment conducive for the growth of real sector as a sure way of creating jobs to reduce poverty in the continent.

Dangote, who was speaking shortly before the Prime Minister of Ethiopia, Hailemariam Dessalegn cut the tape to inaugurate the plant said that achieving a real economic integration in Africa would require that Africans work together to ensure economic and political stability on the continent.

Dangote stressed the need for a genuine collaboration between the private sector and governments at all levels for the much needed real sector growth, noting that there must be deliberate efforts to encourage Africans, not just foreigners alone, to invest in Africa.Besides, he stated that conscious efforts must be made to break down the barriers and borders between countries so as to allow free flow of goods, services and people.Dangote Cement

Read also: Tanzania Says LNG Project Could Cost Up To $30 bln

“Take for example, my company, the Dangote Cement is currently investing in 16 African countries, with plans to invest in many more over the next few years. There are a number of other successful pan-African brands today such as MTN, Shoprite and Ecobank. We need to encourage this trend to see more investments in Africa by Africans.

“Above all, there is the need to encourage the private sector to collaborate with governments across Africa, to address the issue of infrastructure deficit, which has plagued the continent for decades”, he advised.

Said he: “I believe that manufacturing, and not trading, is the best way to grow an economy. This event, which we are witnessing today, attests to the fact that we took the right decision when we decided to transit from trading in our home country, Nigeria, into manufacturing, in 1996.

“Dangote Cement is currently simultaneously setting up new cement plants and terminals across 16 African countries, including Ethiopia. This is in line with our long-term vision to become one of the world’s biggest cement producers. We envisage that by the time we complete all our ongoing African projects, we will be on track to achieving our target.”

Read also: Africa Turns To Sunshine To Meet Surging Power Demand

He explained that the various developmental projects, including the construction of the continent’s largest hydro-power dam, makes Ethiopia a beautiful bride to investors.

While commending the government and appreciating the country’s remarkable economic achievement, Dangote said that the favourable investment climate together with abundant raw materials and sustainable peace attracted him to invest in Ethiopia.

According to him, in addition to supplying 2.5 million metric tonnes of cement per annum to the market, Dangote Cement Plant has also created direct employment for about 2,000 people in the main plant operation and 5,000 indirect job opportunities.

Inaugurating the Dangote Cement Plant established with over 600 million USD direct investment in Muger Town, Prime Minister Hailemariam said Ethiopia representing a lucrative market, is a destination of choice for investors with a population of well over 95 million people and a growing middle class.
He said his government has been taking all the necessary measures to make the country suitable for foreign investment and adequately conducive for local investors.According to the Premier, with the government’s focus on harnessing the competitive and comparative economic advantages of the country, Ethiopia is ready to host more and more quality investments that leave a positive mark on its non-stopping development journey.

“I am hopeful that the continued interest and presence of self-made industrialists such as Alhaji Dangote in investment projects in Ethiopia’s diverse sectors and their successful experience can and should go a long way in encouraging local investment”, Hailemariam enthused.

Ethiopian Industry Minister, Ahmed Abetew said the importance of industry for sustainable development could not be over emphasized and that was why the government has accorded the sector a priority.

He expressed the hope that the involvement of Dangote in the cement industry in Ethiopia will play a significant role in cement production.

It would be recalled that the construction of the cement factory commenced in 2012. Lying on 134 hectares of land, the factory which has a capacity to produce 2.5 million tons of cement annually is constructed by Sinoma International Engineering, a giant Chinese construction firm.

Hamilton Nwosa
Hamilton Nwosa
Hamilton Nwosa is an experienced, and committed communication, business, administrative, data and research specialist . His deep knowledge of the intersection between communication, business, data, and journalism are quite profound. His passion for professional excellence remains the guiding principle of his work, and in the course of his career spanning sectors such as administration, tourism, business management, communication and journalism, Hamilton has won key awards. He is a delightful writer, researcher and data analyst. He loves team-work, problem-solving, organizational management, communication strategy, and enjoys travelling. He can be reached at: hamilton_68@yahoo.com

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories

NDN
Latest News
Amid Several National Grid Collapse, Power Minister Adelabu Unveils Ambition to Succeed Makinde in OyoOsun Guber: Davido's Uncle, Adeleke Quashes Defection RumoursZamfara 2027: Intrigues As ADC Extends Invitation to Governor Dauda Lawal$4.2m Covid-19 Scam: Nigerian Pastor Goes to Jail, Osun Monarch, Oloyede Forfeits Assets in US As Crackdown BeginsNatasha Akpoti-Uduaghan: Senate Stipulates Terms for Reinstatement After Court's RulingTinubu Departs Saint Lucia, Heads to Brazil for BRICS Summit2027: Drama, Intrigues as Julius Abure Tells Otti to Quit Labour PartyFG Secures $100m for Lagos-Calabar Project from ECOWAS BankEx- Arsenal Star Thomas Partey Faces Rape, Sexual Assault Charges in UKEdwin Cortes: Prefers Being A Small Puerto Rican Than Big AmericanJune 12 And The International Pursuit of Justice For Abiola, By Femi FalanaBreaking Down the West’s $146 Billion 2024 Defence Technology InvestmentG7 vs. the World: GDP, Population, and Military StrengthUS drillers cut oil and gas rigs for 10th week in a row, Baker Hughes saysExclusive! Tinubu Tips Late Ajimobi's Wife, Florence, Others for Ambassadorial Posts
X whatsapp