21/09/2026
Dangote Plans Over $10 Billion Power Investment to Transform Africa, May Cancel Steel Business
Business | Africa
Africa’s industrial future could be shaped by a major investment shift announced by billionaire businessman Aliko Dangote.
The President of Dangote Group says he plans to invest more than $10 billion in Africa’s power sector over the next three to four years, potentially redirecting funds from businesses including steel.
Speaking in an interview with Al Jazeera published on September 21, 2026, Dangote emphasized that reliable electricity is essential for Africa’s economic transformation.
«“We will never, ever create growth without power. Power is growth.”»
Dangote highlighted Africa’s electricity deficit, saying more than 600 million people remain without access to electricity.
He argued that the continent must address this challenge to unlock industrial growth, create jobs and improve living standards.
Power Over Steel?
Dangote indicated that his group could cancel one or two planned businesses, including steel, and redirect the capital toward electricity investments.
However, details regarding the proposed projects, countries of operation, financing structure and generation capacity have not yet been disclosed.
If implemented as announced, the investment could significantly expand private-sector participation in Africa’s energy infrastructure.
Read more business and infrastructure stories at Penta Media.
Source: Al Jazeera interview, as reported by Nigerian media outlets on September 21, 2026.
