NIGERIA: The Chief Executive, Dangote Industries Limited, Alhaji Aliko Dangote has said the firm would build cement plants in 18 African countries, including Nepal in Asia to make the continent import-dependent free.
A statement by the company on Sunday said Dangote made the announcement at the commissioning of 3.0 million metric tonne per annum (MTPA) cement plant at Mgao Village, Mtwara, Tanzania.
He said the entire Africa firms, which would produce more than 80MTPA of cement, was to make Africa an export continent rather than import-dependent . He said the cement plant, which was the largest in Africa after Nigeria, was to stimulate the continent’s growth and create more jobs for its huge population.
According to him, it is time Africans take their destiny in their hands by investing their huge resources in their fatherland. Dangote said the firm was located in Tanzania because of abundant natural raw material that would keep the firm on for more than 49 years and the country’s steady economic growth.
For the host communities, he said the company had given out a 500,000 dollar grant to the active poor to start business of their own while schools and markets would be built in the various communities. He lauded President Jakaya Mrisho Kikwete for providing the enabling environment that made the project possible.
“A key factor that drives investments in an economy is the presence of an investor-friendly business climate.Indeed, Tanzania is one of the most attractive investment destinations in Africa. “This is attested to by the substantial amount of foreign direct investments (FDI) that flows into the country, annually.
“The economic reforms in Tanzania, especially in tax, public sector, financial sector, innovations in rural finance, telecommunications and infrastructure as well as revamped legislative frameworks, have produced an enabling environment that has further provided a platform for future growth.
“All these factors made us consider investing in the country. “We hope to see more foreign investors take advantage of these opportunities and invest in other sectors that will have multiplier effects on the Tanzanian economy. “The Tanzanian economy has been growing rapidly over the last few years. GDP growth rates have averaged 7 per cent per annum. “The World Bank predicts that Tanzania can maintain this impressive growth over the next five years if the government continues to spearhead these laudable reforms.
