US-Africa Business Forum: An interview with Aliko Dangote, CEO of Dangote Industries, and Stephen Schwarzman, CEO of Blackstone (Video)

An interview with Aliko Dangote, CEO of Dangote Industries, and Stephen Schwarzman, CEO of Blackstone
Dangote Group President and CEO Aliko Dangote, Blackstone CEO Stephen Schwarzman and Brian Herlihy of Black Rhino announce and discuss new deal at the U.S.-Africa Business Forum.

Black Rhino, a portfolio company of Blackstone Energy Partners and affiliated funds managed by Blackstone, and Dangote Industries will jointly invest up to $5 billion over the next five years in energy infrastructure projects across Sub-Saharan Africa with a particular emphasis on power, transmission and pipeline projects.

Dangote Industries is the largest industrial conglomerate in West Africa, and one of the largest in Africa. Dangote Industries’ commitment to investments in Nigeria and across the African continent has played a significant role in Africa’s recent economic success. Led by its Founder, President and Chief Executive Officer Aliko Dangote, Dangote Industries’ businesses span manufacturing, logistics, commodities trading and real estate across fourteen African countries.

Black Rhino was formed in January 2012 and is led by SEACOM founder Brian Herlihy to develop and invest in transformational projects in the power generation and fuel transportation sectors. In July, Blackstone announced that it is backing Black Rhino’s experienced management team as it identifies, develops, and operates large-scale infrastructure investments across Sub-Saharan Africa. As part of the transaction, Black Rhino recently announced the appointment of Mimi Alemayehou, formerly the Executive Vice President of the United States’ Overseas Private Investment Corporation, who will join as Managing Director and member of the Executive Committee. In addition, Alemayehou will serve as an Executive Advisor and Chair of Blackstone Africa Infrastructure.

In addition to driving the development of African economies and delivering value to investors, Dangote Industries and Black Rhino will pursue projects that exemplify both partners’ commitment to sustainable development and social responsibility, including the involvement of local communities and full adherence to environmental and safety standards. Dangote Industries and Black Rhino believe they bring complementary attributes to the partnership that will uniquely position them to successfully develop challenging and transformational projects in a timely manner.

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