Africa’s richest businessman, Aliko Dangote, says foreign interests are working against the continent’s economic growth. He made the remarks on Thursday at the Investing in Africa forum, held alongside the IMF and World Bank spring meetings in Washington DC.
Dangote called for stronger regional integration, saying a single African market can only succeed if regional markets function effectively. He said structural weaknesses across regional blocs are limiting the full benefits of the African Continental Free Trade Area.
He also raised concerns about limited industrial development, noting that Africa has struggled to establish refineries due to external interests. Dangote said this has slowed progress in key sectors critical to economic expansion.
Also Read: President Trump Orders US Withdrawal from 66 International Organisations
On investment, he urged wealthy Africans to invest within the continent, stressing that foreign investors are driven by risk perception. He said increased local investment would help reduce perceived risks and encourage greater inflows of foreign capital.
Leave feedback about this
You must be logged in to post a comment.