Dangote Targets Electricity Sector to Fuel Continental Growth

Aliko Dangote has announced plans to invest more than $10 billion in Africa’s power sector, a decision that could see him redirect capital from other planned businesses such as steel. The move comes as the continent struggles with a major electricity-access gap. As of 2024, roughly 600 million people in sub-Saharan Africa, about 47% of the region’s population, lacked access to electricity. Meanwhile, financing remains far below the $15 billion in annual investment that the International Energy Agency estimates the continent needs to achieve universal access over the next decade. According to analysts, Dangote’s industrial businesses could provide a built-in customer base for new power projects, reducing some of the demand and payment risks associated with relying on external buyers.