Dangote to Double Its Investment in Ethiopia

The Nigerian multinational industrial conglomerate owned by the Nigerian business tycoon Aliko Dangote, Dangote Group, disclosed it will double its investment in Ethiopia. Dangote made the announcement on Thursday, January 4, 2018, after holding a meeting with Ethiopia’s Prime Minister, Hailemariam Dessalegn.

Speaking on issue, Dangote said;” We are not investors that just come and fly out the next day; we are here to stay. As we speak right now we are looking at ways and means to doubling our business here in the next few months”.

“We have an investment of over 600 billion USD on our cement plant and we are opening a very big packaging plant. We are actually going to do more than three times of our capacity,” the African tycoon added.

Hailemarim on his part assured Dangote that his government would grant the necessary support to enable the Nigerian business man’s investment in Ethiopia, Zadig Abrha, Media and Public Relations Deliverology Unit Head, noted.

Source: Ethiopian News Agency

Exchange Rates

Selling Buying
USD US 27.7897  27.2448 
GBP UK 36.9822  36.2571 
EUR EU 33.8423  33.1787 
CHF CHE 26.968  26.4392 
CAD CA 19.505  19.1225 
AED UAE 6.8462  6.712