SEO Riders:
– Dangote urges African CEOs to invest locally, not move capital abroad.
– Highlights Dangote Refinery as proof that ambitious, transformative projects are achievable.
– Calls for bold thinking: “If you think small, you don’t grow. If you think big, you grow.”
At a recent session with 24 participants from Lagos Business School and Strathmore Business School’s Global CEO Africa Programme, Aliko Dangote, President and CEO of Dangote Industries, made a passionate plea: Africans must take the lead in developing Africa, he said, urging local entrepreneurs, business leaders, and high-net-worth individuals to invest at home rather than shift capital abroad. Using the Dangote Petroleum Refinery – the world’s largest single-train facility – as a case in point, Dangote emphasized that nothing is impossible for African-led mega-projects. He urged attendees to “think big”, acknowledging challenges but underscoring that tackling them head-on leads to growth.
Beyond the refinery’s success, Dangote highlighted Africa’s untapped potential in human and natural resources, reinforced by the rallying cry: “We, as Africans, must stop taking our money abroad… We know our leaders better than anyone.” He warned that without visible confidence in domestic economies, foreign investors would remain hesitant. He further stressed the urgency of mega infrastructure projects, viable agriculture, strong manufacturing, and regional integration, pointing out inefficiencies like the high cost of intra-African cement transport. His message: the private sector must lead the continent’s transformation.
