Dangote’s $2.5 billion funding historic milestone for African industrialisation – Namibia authorities

The President of Namibia, Dr Netumbo Nandi-Ndaitwah, has hailed the launch of Dangote Industries Limited’s $2.5 billion petroleum storage and regional pipeline funding as a historic milestone in Africa’s industrialisation, describing the event as essentially the most memorable day of her presidency.

Speaking on the official launch in Walvis Bay on Wednesday, Nandi-Ndaitwah recommended President and Chief Executive of Dangote Industries Limited, Aliko Dangote, for demonstrating confidence in Africa’s financial potential by way of large-scale investments designed to strengthen vitality safety, speed up industrial improvement and deepen regional financial integration.

“Today, this is the most memorable day of my presidency,” she declared, describing Dangote as a son of African soil whose funding demonstrated the rising capability of African entrepreneurs to drive the continent’s transformation.

The President disclosed that she had positioned the mission underneath the coordination of the Office of the President to make sure efficient collaboration amongst authorities establishments and well timed implementation, drawing classes from earlier funding alternatives misplaced to extended administrative delays. She stated her administration was dedicated to making a extra responsive funding surroundings, significantly for strategic initiatives able to producing employment, strengthening infrastructure and stimulating financial progress. The funding includes a proposed 600-million-litre petroleum storage facility and an roughly 1,700-kilometre regional pipeline community supposed to place Namibia as a strategic vitality distribution gateway for Southern Africa.

Addressing the gathering, Dangote disclosed that the $2.5 billion funding would cowl petroleum storage, pipeline infrastructure and related distribution services.

He stated the proposed tank farm would occupy roughly 70 hectares at Farm 58, about 10 kilometres east of Walvis Bay, with storage capability for 360 million litres of diesel and 240 million litres of petrol. The deliberate pipeline will lengthen from Walvis Bay in direction of Otjiwarongo, with connections in direction of Rundu, Ghanzi and Francistown in Botswana.