Dangote unveils Pan-African power distribution community

The President and Chief Executive of Dangote Industries Limited, Aliko Dangote, has unveiled plans to ascertain an intensive petroleum distribution community throughout Africa by means of strategic investments in pipelines, storage services and provide corridors, whereas urging African governments to undertake insurance policies that defend home industries and speed up industrialisation.

Dangote mentioned the Group is aggressively increasing its petroleum logistics and distribution infrastructure throughout East, Central and Southern Africa as a part of efforts to strengthen power safety, enhance entry to subtle merchandise and eradicate longstanding provide bottlenecks throughout the continent.

Speaking throughout a wide-ranging interview with Financial Times journalist David Pilling, the industrialist disclosed that the Group not too long ago acquired a 25 per cent stake in a petroleum merchandise pipeline community in Kenya and is pursuing further infrastructure tasks connecting Djibouti and Ethiopia, alongside investments in Cameroon and Namibia.

According to him, Africa’s aspiration for financial transformation will stay troublesome to realize with out important investments in infrastructure mixed with industrial insurance policies that promote native manufacturing, protect productive capability and create sustainable employment alternatives.

“Allowing imports to displace local production means we are exporting our jobs out of the continent and importing poverty into the continent,” Dangote mentioned.

Dangote defined that the enlargement varieties a part of a broader technique to develop an interconnected African power provide system able to linking main refining centres with underserved markets which have traditionally relied on imported petroleum merchandise and fragmented distribution channels.

“We are very aggressive with that,” he mentioned, in response to questions concerning the Group’s plans for petroleum depots, pipelines and logistics infrastructure.

He revealed that the acquisition of a 25 per cent stake in Kenya’s petroleum pipeline community was achieved with the assist of the Kenyan authorities and would considerably improve the motion of refined petroleum merchandise inside the East African area.

“Just let me tell you, yesterday, with the support from the President of Kenya, we bought 25 per cent of the pipeline network for the distribution of petroleum products,” Dangote disclosed.