Aliko Dangote, Chairman of the Dangote Group, has announced a new investment of $400 million to expand the Mugher cement plant in Ethiopia, raising its capacity from 2.5 million to 5 million tons per year. The Mugher plant began operations in 2015 but has faced numerous challenges, including the vandalism of equipment and the tragic killing of three staff members. Nevertheless, the Dangote Group is committed to strengthening its Ethiopian footprint. Dr. Brook Taye, CEO of Ethiopian Investment Holdings (EIH), welcomed the move as a sign of confidence in the nation’s business environment. Beyond cement, Dangote Group plans to invest in the Omo Kuraz Sugar Company with the EIH. Furthermore, it is considering a urea production facility, pending the development of Ethiopia’s natural gas sector. Praising Ethiopia’s improving investment climate, Dangote reiterated that African business leaders must complement political efforts to drive the continent’s economic progress.
Source: Business Insider Africa
