Africa's Richest Man to Invest Up to $50 Billion in U.S., Europe

Aliko Dangote, Chairman, Dangote Group

Africa’s richest man, Aliko Dangote, plans to invest $20 billion to $50 billion in the U.S. and Europe by 2025, in industries including renewable energy and petrochemicals.

The 60-year-old Nigerian cement tycoon aims to move into these territories for the first time in 2020 after completing almost $5 billion of agricultural projects and an $11 billion oil refinery in his home country, he said in an interview with Bloomberg Markets Magazine this month.

“Beginning in 2020, 60 percent of our future investments will be outside Africa, so we can have a balance,” said Dangote, who’s worth $11.1 billion, according to Bloomberg’s Billionaires Index.

Read more: Africa’s Richest Man to Invest Up to $50 Billion in U.S., Europe – Bloomberg

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