Aliko Dangote Urges African Business Leaders to Lead the Continent's Transformation

Aliko Dangote, President and CEO of Dangote Group, has called on African business leaders to take the lead in driving the continent’s transformation. Speaking at the African Renaissance Retreat in Kigali, Rwanda, Dangote highlighted Africa’s abundant resources and youthful population as key drivers for substantial, inclusive growth.

Despite challenges such as political instability, infrastructure gaps, and economic hurdles like inflation and foreign exchange crises, Dangote emphasized Africa’s unique potential. He noted that the continent holds 30% of the world’s mineral reserves and 65% of its arable land, along with vast freshwater sources—critical assets for economic development.

Dangote also pointed to his company’s success in expanding from Nigeria into 14 African countries, creating over 50,000 jobs and projected to generate $30 billion in revenues by 2025. He stressed that African business leaders must take ownership of the continent's development narrative and work collectively to overcome challenges such as energy and food security, supply chain disruptions, and access to long-term funding.

“This retreat is about bringing together Africa's foremost entrepreneurs and leaders to address the continent’s issues and forge a path for collective action,” Dangote said, urging those in attendance to embrace their role as visionaries and catalysts for change. “It is our responsibility to transform our continent—no one will do it for us.”

While expressing his hope that the retreat would produce initiatives capable of significantly shaping Africa’s future and benefiting its people, Dangote acknowledged the contributions of President Paul Kagame of Rwanda, former President Olusegun Obasanjo, former President Ellen Johnson Sirleaf, and former Prime Minister Hailemariam Dessalegn. However, he cautioned that it is crucial for the leaders present to move beyond dialogue to decisive implementation and tangible impact.

The Retreat participants resolved to urge African private sector and political leaders to engage in regular high-level dialogue. Additional proposals included supporting the ratification of the free movement of people protocol, launching the African Renaissance Companies Gender Compact, and convening top global business leaders of African descent. The leaders also aimed to champion an initiative aimed at significantly reducing logistics costs across the continent and one focused on ensuring internet access for a broader segment of Africa’s population.

Participants at the retreat , which took place from September 6 to 8, included Amina J. Mohammed, Deputy Secretary-General of the United Nations; Prof. Benedict Oramah, President and Chairman of the Board of Directors of the African Export-Import Bank; former Liberian President Ellen Johnson Sirleaf; Adebayo Ogunlesi, Chairperson of Global Infrastructure Partners; former Ethiopian Prime Minister Hailemariam Dessalegn, Samaila Zubairu of the African Finance Corporation, Makhtar Diop of IFC, Jeremy Awori, CEO of Ecobank Transnational Incorporated, and many others.