Africa’s economy can be deepened through free trade, says Dangote
BY FRANCIS EZEM
President of the Dangote Group, Aliko Dangote, has made a strong case for the deepening of Africa’s economy by investors and governments through the region’s markets.
Speaking in London during the 5th annual Financial Times African Summit, Dangote said Africa must be ready to patronise African markets, adding that this has a way of strengthening the economies of the various countries in the region.
Dangote, who has been rated the richest man in the continent, insists that governments and investors can aid rapid growth and development of Africa’s economy by making regional markets more efficient.
He cited the instance of the Republic of Benin, which imports cement from China when his cement factory in Nigeria is just about 35 miles from the border.
Dangote said: “There is the need for Africans to trade with themselves, this will boost the African economy”.
He further disclosed that the process of listing Dangote Cement on the London Stock Exchange might be completed next year and cautioned against the export of raw materials to other continents, adding that instead they should be used to create wealth within the economy of the African region.