Aliko Dangote Set to Make New Investments in Senegal

Africa’s richest man, Aliko Dangote, is preparing to deepen his business presence in Senegal after a high-level meeting with the country’s president, Bassirou Diomaye Faye, in Dakar. 

This development comes just days after Dangote launched construction on a massive $2.5 billion fertilizer plant in Ethiopia, showing his growing focus on expanding across Africa’s industrial landscape.

Dangote meets with Senegal’s president

During the meeting in Dakar, Dangote discussed new areas of investment with President Faye, focusing on projects that could strengthen Senegal’s industrial base. Also present at the talks was Okey Oramah, president of the African Export-Import Bank (Afreximbank), signaling possible financing partnerships to support these new ventures.

Dangote, who chairs the Dangote Group, already operates a 1.5-million-tonne cement plant in Pout, a town in Senegal’s Thiès Region. 

His visit was aimed at exploring fresh opportunities in energy, fertilizer, and manufacturing, sectors that align with Senegal’s National Development Strategy for 2024–2029.

Renewed push for industrial growth

The discussions mark a new phase in Senegal’s drive to attract long-term investments that can create jobs and boost infrastructure. 

Dangote commended the government’s “Invest in Senegal Forum,” describing it as a strong platform for both local and international investors. 

He also reaffirmed his commitment to supporting Senegal’s economic transformation and encouraging more African entrepreneurs to participate in its growth story.

According to the Bloomberg Billionaires Index, Dangote’s net worth is estimated at $29.1 billion, making him not only Africa’s richest man but also one of its most influential industrialists. His continued interest in Senegal highlights the country’s growing reputation as a business-friendly destination in West Africa.

Senegal’s promising economic outlook

Despite earlier political uncertainties, Senegal’s economy is expected to grow by 8.4 percent in 2025, a sharp rise from 6.7 percent this year. Much of this growth will come from renewed activity in construction, cement production, and energy projects. 

Strong demand for cement and abundant limestone reserves have helped the industry remain resilient, and Dangote’s plans could further strengthen this foundation.

How he is expanding beyond cement

Dangote’s expansion plans in Senegal mirror his wider African strategy. His new $2.5 billion fertilizer plant in Ethiopia, for instance, will produce three million tonnes of urea annually. 

The project, launched in partnership with Ethiopian Investment Holdings, will use the country’s natural gas to support local agriculture. Ethiopian Prime Minister Abiy Ahmed described it as a symbol of “unity and shared progress”, a message that also fits Dangote’s broader goal of promoting industrial growth across Africa.

Denote confidence in Senegal’s future

Dangote’s renewed focus on Senegal shows his confidence in the country’s long-term potential. Through Dangote Cement Senegal S.A., the company has already invested about N64.8 billion ($44 million) and holds nearly full ownership of its operations in the country. 

Though cement sales dropped slightly in the first half of 2025, a 29 percent decline linked to the recent political transition, Dangote’s new commitments could help the sector recover quickly.