Dangote Group’s revenue to hit $30bn by 2020


The President of Dangote Group, Aliko Dangote, on Thursday said the cumulated revenue of the group would hit $30billion by 2020.

He disclosed this while speaking as one of the panelists in the first Presidential Investment Chat at the ongoing Africa Investment Forum holding in Johannesburg, South Africa.

Dangote was among the speakers that discussed “Investment in Africa” alongside President Cyril Ramaphosa of South Africa, President of African Development Bank (AfDB) Dr Akinwunmi Adesina and Chairman of Al-Ghurair Group, Abdul Aziz Al-Ghurair.

He also said countries in Africa should at least have minimum of 80-85 percent local contents in production of goods and products.

“Nobody would come and develop Africa except Africans themselves; only Africans can truly make things happen on the continent,” he said.

He added that by 2020, Dangote Group’s revenue would hit $30bn because many of its ‘’bold investments’’ would have yielded more fruits.

“When people were running away from investing in Africa, we are putting our money, investing across the continent.

“If we are really determine, we can make Africa great; the prospective are there,” he said.

He said the Group had invested $4.8bn across Africa in the last four years.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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