The President of the Dangote Group has stated that Africa is the only continent currently experiencing real growth, stressing that Europe’s prospects are tied to Africa’s continued development.
Dangote made the remarks on Friday while speaking at the 32nd Annual Meeting of the African Export-Import Bank (Afreximbank), which began on Wednesday.
The programme, which is taking place in Abuja under the theme: “Building the Future on Decades of Resilience,” hosts over 6000 Delegates across the continent and globally.
“Let us make our continent a productive continent. We are the only. We’re the only continent that has actually had growth. If you look at it today, Europe, with respect to them, there is no growth in Europe. They’ve reached a certain point … they need Africa to grow,” Dangote stated.
He further stated that African governments should support indigenous investors.
He noted, “The Majority of African countries keep going round to look for foreign investors. Foreign investors, they just don’t come that easily. What you need to do is encourage domestic investors when they are doing well. That is the invitation for international investors.”
Only African entrepreneurs can make the continent great
Speaking further, the African industrial giant stated that the responsibility for transforming Africa lies squarely with Africans themselves.
“We African champions should know that we are the only people who can make Africa great. Nobody will do that for us. So, as such, we need to make sure that we concentrate. We believe in our own continent. The job of people like us is not about amassing wealth. It’s about creating wealth.
“We can actually turn Africa into a heaven in the next five years. It doesn’t take time. Like I keep saying: You need to think big, and then you grow big,” he noted.
What you should know
On Wednesday at the meeting, the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, called for a bold new vision of economic development on the continent, one that is driven and owned by Africans themselves.
Cardoso emphasised the role of African institutions in fostering intra-continental trade, countercyclical finance, and regional economic integration.
He hailed Afreximbank as “a convener of ambition and a catalyst for change,” noting that its success reflects “the continent’s growing confidence in its capabilities.”
At a time of shifting geopolitical tensions and growing economic fragmentation, Cardoso warned that Africa must not remain vulnerable to external forces.
Nigeria is one of Afreximbank’s major shareholders. The country was among the largest beneficiaries of the bank, accounting for about 60% of its US$30 billion funding of the energy sector in Africa as of 2024
