Africa is currently the only continent experiencing substantial economic growth while Europe remains stagnant, said Aliko Dangote.
He spoke at the 32nd Annual Meeting of the African Export‑Import Bank in Abuja, with over 6,000 delegates present.
Dangote emphasized that European economies need African expansion to spur their own economic recovery and future stability.
He argued African governments should support domestic investors rather than pursue foreign capital aggressively, citing local capital potential.
“The responsibility for transforming Africa lies with Africans themselves,” Dangote said, urging belief in indigenous entrepreneurship.
He noted that attracting foreign investment requires credible local businesses demonstrating success, which “invites” international capital.
Africa’s youthful demographic, expanding consumer markets, and growing industrial sectors underpin Europe’s economic interest in the region.
ALSO READ
Dangote’s vision aligns with broader economic analyses citing Africa as the future growth engine, essential for global economic resilience.
Unlocking this potential requires scaling local champions, investing in infrastructure, and improving policy certainty to foster entrepreneurship.
Dangote’s own investments in manufacturing and refining demonstrate the power of homegrown billion-dollar firms driving inclusive growth.
If Africa remains focused on its own transformation, its growth will not only sustain domestic progress but buoy global economies.
