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Dangote believes free trade can deepen Africa’s economy

Aliko Dangote, President of Dangote Group
Photo Credit: Forbes

Africa’s richest man and President
of Dangote Group, Aliko Dangote, has expressed his conviction that Africa’s
economy can be made robust through private sector investors and governments,
who should take the regional markets as top priority.

Dangote said governments and
investors could aid rapid growth and development of Africa’s economy by making
regional markets work.
Speaking in London during the
5th annual Financial Times African Summit, he said Africa must be ready to
patronize African markets, adding that this has a way of strengthening the
economies of the various countries in the region.
Dangote gave an instance of
the case of Benin Republic, which imports cement from China when his Nigerian
factory is just about 35 miles from the border.
According to him, there was
the need for Africans to trade with themselves, adding that this would boost
the African economy.
He disclosed that the process of listing Dangote
cement on the London Stock Exchange might be completed next year.
He, however, cautioned against the export of raw
materials to other continent, adding that instead, they should be used to
create wealth within the African economy.

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