Dangote Group, Africa’s leading industrial conglomerate, has announced a major expansion in Ethiopia, reinforcing the country’s growing appeal as an investment hub.

Following discussions with Ethiopia’s Prime Minister, Chairman and CEO Aliko Dangote highlighted his renewed confidence in Ethiopia’s economic climate. “Our 2.5 million-ton cement plant in Mugher remains a key part of our portfolio, and I am pleased to announce the successful repatriation of 100% of our loans and dividends,” Dangote stated.

Dangote Group plans to double its cement production capacity by adding a second production line at its Mugher plant and constructing a 3.0 million-ton-per-year grinding unit near Addis Ababa. Additionally, the company will invest in Ethiopia’s sugar industry and consider a future Urea production plant once the country’s natural gas reserves are developed.

Dr. Brook Taye, CEO of Ethiopian Investment Holdings, welcomed the expansion, emphasizing Ethiopia’s commitment to industrial growth and job creation. Dangote reiterated his vision for African-led economic development, stating, “Africa will be developed by Africans.” These new investments strengthen Dangote’s position as Africa’s leading cement producer and contribute to Ethiopia’s transformation into a key industrial hub.

Source (including image): Ethiopian Investment Holdings