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Africa needs investment more than aid – Dangote

By BusinessNews Staff on October 21, 2014

The President of Dangote Group, Aliko Dangote, has said that Africa needs more investments than aid from developed economies.

Describing Africa as a blessed continent with numerous natural resources, he said what Africa needed now was trade both within itself and with the international communities, as the continent is the most blessed.

Dangote said the growth rate of Africa would hit seven per cent, once the challenge of infrastructure, especially power, had been addressed on the continent.

“If we can take care of the infrastructure, mainly power, we can hit a growth rate of seven per cent…The future is bright because we have what it takes to really get to the next level, we have the best land and of course water, we have all the resources countries like China and others are looking for within Africa in abundance…We really don’t need aid anymore in Africa, what we need is trade,” a statement quoted him as saying.

[Punch]

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