Namibia president declares Dangote’s $2.5 billion energy investment landmark for Africa’s industrial future

President of Namibia, Dr Netumbo Nandi-Ndaitwah, has actually explained the $2.5 billion Dangote Namibia Tank Farm and Regional Pipeline Project as a landmark financial investment that will speed up Africa’s industrialisation, boost local energy security and deepen financial combination throughout Southern Africa. Speaking at the job’s main launch in Walvis Bay, the Namibian leader applauded Aliko Dangote, President and Chief Executive of Dangote Industries Limited, for showing self-confidence in Africa’s financial capacity through transformative financial investments in energy facilities. She explained the event as the most remarkable day of her presidency.

“Today is the most unforgettable day of my presidency,” she stated, keeping in mind that the financial investment shows the growing capability of African business owners to drive the continent’s change.

The job makes up a proposed 600-million-litre petroleum storage center and a roughly 1,700-kilometre local pipeline network that will place Namibia as a tactical fuel circulation center for Southern Africa. The facilities is anticipated to enhance fuel supply dependability, lower transport expenses and support financial development throughout the area.

President Nandi-Ndaitwah stated the financial investment lines up with Namibia’s advancement concerns and the objectives of the African Continental Free Trade Area (AfCFTA), while developing chances for work, abilities transfer and commercial growth.

Attending to the event, Aliko Dangote stated the financial investment forms part of the Group’s wider vision to develop interconnected centres of production, storage and circulation throughout Africa.

He divulged that the center, situated near Walvis Bay, will have storage capability for 360 million litres of diesel and 240 million litres of fuel. The pipeline network will link Namibia to essential markets in Botswana, Zambia, Zimbabwe, Malawi and parts of the Democratic Republic of Congo. “We wish to invest greatly so that landlocked nations can access petroleum items at more affordable rates,” Dangote stated.

Dangote likewise revealed that the Group has actually increased its Africa-wide financial investment aspiration towards 2030 from $50 billion to $60 billion, signalling prepare for more growth throughout the continent. “What we are releasing today represents a financial investment of $2.5 billion, however Namibia is worthy of a lot more. We wish to invest more and do more with your federal government,” he stated.

Declaring his dedication to Africa’s advancement, Dangote stated the continent has the resources, skill and markets required to attain sustainable industrialisation. “Africa should industrialise Africa,” he stated.

The Governor of Namibia’s Erongo Region, Dr Nathalia ǀGoagoses, likewise invited the financial investment, explaining it as a tactical effort that will reinforce Namibia’s function as an entrance for trade, financial investment and local financial combination.

Dangote concluded by declaring the Group’s long-lasting dedication to Namibia and Southern Africa, promising ongoing financial investment in facilities tasks that promote development, task production and success throughout the continent.