Aliko Dangote Reveals Why He Aborted Plans of Investing In Kenya

  • Africa's richest man and Nigerian business magnate Aliko Dangote has revealed why he shelved plans to invest in Kenya.

    The billionaire told renowned Kenyan journalist Jeff Koinange that mega corruption in the country had dissuaded him from pursuing his plan to invest.

    "I asked him, ‘Alhaji when are you coming back to Kenya?’ and he said ‘Jeff, there are people in that place (Kenya) who put greed and personal interest ahead of national interest.

    [caption caption="Billionaire business man Aliko Dangote"][/caption]

    "I didn’t think Kenya would be more corrupt than Nigeria," Koinange quoted Dangote during his morning show on a local radio station.

    Koinange further disclosed that Dangote opted to shift the planned investment to neighbouring Ethiopia.

    Jeff further added that the cement factory under the Dangote Industries in Ethiopia is already in operation.

    "When Kenya turned its back on him, he went to Ethiopia and built a $1.2 billion cement plant that is producing and exporting cement as we speak," Jeff stated.

    Jeff further revealed that Dangote has invested in fifteen countries across Africa including Zambia, Zimbabwe and Democratic Republic of Congo (DRC).

    Reports in 2017 indicated that Ethiopia had emerged as the most profitable market for Dangote Cement selling 1.7 million tonnes of the building material.

    [caption caption="Aliko Dangote speaking at World Economic Forum"][/caption]

    Dangote had planned to build two cement plants under his Kenyan registered companies Dangote Quarries Kenya Ltd for limestone mining and Dangote Cement Kenya Ltd for cement production.

    Here is the video:

    [video:https://youtu.be/d9i4ohZDQXs?t=2m52s]