Just days after breaking ground on a $2.5 billion fertilizer plant in Ethiopia, Africa’s richest man, Aliko Dangote, is turning his attention to Senegal.
- Aliko Dangote is exploring new investment opportunities in Senegal after initiating a fertilizer plant project in Ethiopia.
- Dangote met with Senegal’s President Faye to discuss industrial, energy, and fertilizer sector advancements.
- His efforts align with Senegal’s 2024–2029 National Development Strategy to enhance private sector participation.
- Dangote is actively expanding across West Africa, with notable projects in Ethiopia and Côte d’Ivoire.
The Nigerian billionaire met this week with President Bassirou Diomaye Faye in Dakar to discuss new investment opportunities that could expand his business footprint in the West African nation.
The meeting, part of ongoing discussions, explored opportunities to expand Dangote Group’s footprint in energy, manufacturing, and fertilizer sectors across the West African nation.
Dangote Meets President Faye on Development
Dangote, who chairs the Dangote Group, already operates a 1.5-million-tonne cement plant in Pout, a town in Senegal’s Thiès Region. During his meeting with President Faye, which was also attended by Okey Oramah, President of Afreximbank, Dangote expressed interest in financing and developing projects across the energy, fertilizer, and industrial sectors.
The discussions align closely with Senegal’s National Development Strategy for 2024–2029, which seeks to deepen private-sector participation and boost industrial output.
With an estimated fortune of $29.1 billion, according to the Bloomberg Billionaires Index, Dangote praised the government’s “Invest in Senegal Forum,” saying he remains committed to deepening ties with the country and encouraging other investors to participate in its growth.
Expanding Footprint Across West Africa
The Senegal visit is part of a broader West African expansion drive. In Ethiopia, Dangote recently launched construction of a $2.5 billion fertilizer plant designed to produce three million tonnes of urea annually, in partnership with Ethiopian Investment Holdings. Prime Minister Abiy Ahmed described the project as a symbol of “unity and shared progress.”
Meanwhile, in Côte d’Ivoire, Dangote Cement is building, and has nearly completed a 3 million tonnes-per-year grinding plant in the Attingué industrial zone near Abidjan. The $200 million facility sits on over 60 hectares of land and features two 1.5 million-tonne production lines.
It is expected to be commissioned in the third quarter of 2025, marking one of the company’s most ambitious ventures in Francophone West Africa.
Strengthening Senegal’s Industrial Growth
Senegal’s economy is forecast to grow by 8.4 percent in 2025, up from 6.7 percent this year, despite post-election uncertainties that briefly slowed construction and infrastructure projects.
The rebound reflects renewed investor confidence in the cement, energy, and manufacturing sectors, areas Dangote has identified as growth pillars.
In Senegal, Dangote Cement has invested about ₦64.8 billion ($44 million) through its local subsidiary, Dangote Cement Senegal S.A., which is 99.99 percent owned by the parent company.
The unit sold 573,700 tonnes of cement in the first half of 2025 , a 29 percent drop from a year earlier, reflecting a temporary slowdown following the political transition.
Nevertheless, Dangote’s renewed commitment underscores confidence in Senegal’s long-term industrial potential and in West Africa’s growing role in the continent’s manufacturing transformation.
