» "Why My Company Has Been Very Successful" – Dangote Reveals «

Africa’s richest man, Aliko Dangote, has stated that the
challenge of electricity was adversely affecting the growth
of the continent’s economy.
Speaking at the Africa CEO forum in Abidjan, the President
of Dangote group also disclosed what has made his
conglomerate successful.
“Where I come from, which is Kano in Nigeria, we have over
20 million people and we are sharing 35 megawatts only,”
Dangote said.
“So when we started business as a group, we said that we
would not go into the national grid. Every single country
that we are operating in, we would create, generate our
own power and that is why we have been very, very
successful.”
In his remark, President of the African Development Bank,
Akinwumi Adesina, said Africa must seek ways to light up
the continent.
“If you walk in the dark, you’ll stumble and you will fall.
But if you walk in the light, you will constantly see thing
ahead of you,” he said.
“The problem is, in Africa, you have today 645 million
people without electricity. You have the GDP in which the
cost of not having electricity is about four to five percent
shaved off.
“We cannot be competitive when it comes to value adding.
We cannot industrialise because we have no electricity.
The kids cannot go to school because we have no
electricity.
“Vaccines can’t be in hospitals because we have no
electricity, and business are operating at very high cost,
using diesel. In other words, what is the emergency power
supply system has become the normal power supply
system – no way!
“And as Africa Development Bank, I know that the very
blood of Africa’s transmission and life is what we do.”
Nigeria’s electricity generation currently fluctuates around
4,000MW, a meagre capacity for a country of over
170million.