Oil & Gas: Dangote Moves to Invest in Cameroon

Aliko Dangote, Africa’s Business mogul has stated plans to diversify his group’s investments in Cameroon, starting with energy.

“We have plans to expand our investment to other sectors beginning with oil and gas,” Dangote told newsmen Wednesday after meeting Cameroonian President Paul Biya in the capital, Yaounde.

The Nigerian billionaire, founder of the multinational industrial conglomerate Dangote Group, also announced his company will double cement production in Cameroon.

In March 2015, Dangote opened a 1.5 million-ton cement grinding facility in the central African nation ending a 40-year French monopoly in the industry.

The occasion also allowed the Cameroonian Head of State to award an honorary distinction to the Nigerian businessman.

Earlier in the year, Dangote paid a courtesy call to President Samia Suluhu of Tanzania to explore investment and bilateral business concerns.

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