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Is Dangote Group really Divesting from Food Business?

By on July 16, 2012

The Dangote Group is one of Africa and indeed the world’s most formidable companies. Alhaji Aliko Dangote, after making his money from trade, delved into manufacturing and now sources close to the businessman claim agriculture is his next bus-stop.

Credible sources, say Dangote is buying huge tracts of land in Cross River State and the purpose is for industrial farming.

This seems to be against Dangote’s recent declaration to British journalists that his business would focus on power, infrastructure and mining, after divesting largely from the Food business. Dangote Flour is already in the final steps of being acquired by Tiger Brands of South Africa.

So if Dangote is selling his food companies, why is he going into Agriculture? One guess is as good as the other, but what is for certain is Alhaji Aliko Dangote’s business foresight is unparalleled as far as Nigerian business is concerned.

His growing team of advisers and strategists seem to have keyed in to the Federal Governments agricultural policy which will see the importation of wheat products, rice and other key agricultural commodities reduce and be replaced with Nigerian grown substitutes.

The Federal Government has already increased tariffs on imported wheat, and rice amongst other commodities, and this will definitely send prices up in the not too distant future. Africa’s future billionaires are those that begin to take serious interest and positions in the area of commercial/industrialized farming.
As it appears, Dangote is poised to also win this race.