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The Africa Finance Corporation (AFC) has described the Dangote Group’s sustained investments across Africa as critical to unlocking the continent’s economic potential and driving industrial growth.
The President and Chief Executive Officer of AFC, Samaila Zubairu, made the remarks at the Lagos Economic Summit themed “The Real Deal: Africa’s Greatest Investment Opportunity” on Friday, September 4, 2026, according to a statement from the Dangote Group.
Zubairu noted that while recent economic reforms have improved foreign exchange stability, strengthened reserves and eased inflationary pressures, the focus must now shift towards growth in industry, productivity and employment.
What they are saying
Leading economists, financial experts and industry stakeholders described the Dangote Group’s investments as major drivers of industrialisation and economic transformation across Nigeria and Africa. They cited the investments’ impact on job creation, import substitution, foreign exchange conservation and economic competitiveness.
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The experts also urged governments to implement policies that strengthen local industries and accelerate economic diversification.
- Chief Executive Officer of the Centre for the Promotion of Private Enterprise (CPPE), Muda Yusuf, said industrialisation remains the most effective path to sustainable economic development.
- Yusuf called for better alignment of trade and industrial policies, stressing that local manufacturers require strategic support to compete effectively and drive broader economic benefits.
- Founder and CEO of Nairametrics, Ugodre Obi-Chukwu, said Africa’s growing population presents a significant industrial opportunity, noting that investments such as the Dangote Refinery are helping to retain capital within the continent while strengthening local production capacity.
The comments underscore the importance of sustained investment in productive sectors as African economies seek to move beyond consumption and strengthen domestic production.
More insight
In his keynote address, Managing Director of Financial Derivatives Company Limited, Bismarck Rewane, said Nigeria is gradually transitioning from a consumption-led economy to one driven by investment and production.
- Rewane said sustained investments in productive sectors will continue to stimulate growth, create jobs and improve living standards.
- Participants at the summit advocated stronger credit infrastructure to support economic activity and investment.
- They also called for improved national identification systems to strengthen access to economic opportunities and financial services.
- Increased investment in skills development was recommended to improve the productivity and global competitiveness of Africa’s growing youth population.
The discussions at the summit focused on the need to strengthen the foundations for investment, industrialisation and productivity as Africa seeks to unlock the economic potential of its growing population.
What you should know
Meanwhile, Dangote Cement Plc, a major subsidiary of the Dangote Group, announced a few days ago that it will host a Capital Markets Day (CMD) in London on September 21, 2026, as the company prepares for its proposed secondary listing on the London Stock Exchange (LSE).
- The event is expected to provide investors and other stakeholders with updates on the cement maker’s strategy, operations and business priorities.
- It will also offer investors an opportunity to engage with the company’s senior management.
- The announcement follows Dangote Cement’s May 12, 2026 notice and subsequent shareholder approval for the proposed secondary listing of its shares on the LSE.
- Dangote Cement said the Capital Markets Day is designed to provide investors with greater insight into its business and strategic direction.
The planned Capital Markets Day comes as Dangote Cement advances its proposed secondary listing on the LSE and continues to engage with investors on its strategy and business priorities.
