Aliko Dangote may want to buy English soccer team Arsenal, but he hasn’t forgotten his main money-maker or the continent where he made that money.
Africa’s richest man, with a net worth of $15.7 billion according to Forbes, made a large part of his fortune producing cement. And now his company Dangote Cement is looking to further expand its operations across the continent. According to Reuters, the firm plans to build a $500 million cement plant in Tanzania, East Africa’s second largest economy.
The plan is to push production to 68 million tons a year by 2017 from last year’s estimate of 46 million tons. This is all part of a $3 billion strategy to entrench Dangote’s footprint all across Africa.