Why Agriculture Investment is The Hope for Africa’s Progress – Dangote

President/Chief Executive Officer, Dangote Group, Aliko Dangote

Serial entrepreneur and business mogul, Aliko Dangote has identified agricultural investment as one of the major sectors for Africans to leverage on, to make the continent’s economy viable and strong to provide more jobs for the people.

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Recently, Dangote announced support for agricultural business particularly those who into farming adding that the only way to trickle fast enough is through agriculture and his company is investing in the sector for Africa’s progress and growth.

In his word, ‘’What we are doing in agriculture is building a million tons of processing and parboiling rice plus power generation attached to them.

We are giving the farmers the seeds and implement and when they finish the harvest and we buy it from them. They are at liberty to choose not to sell to us if someone else come with a better offer but they come to back to pay their loans to investors.’’

‘’In the next four years, our investment in agriculture and sugar will create 150,000 jobs. If we Africans want to create jobs, prosperity, the only way to trickle fast enough is through agriculture, and that why we have a greater advantage by having a ready market which is difficult for a lot of continents, Africa imports more goods more any other continent, what we need to do to make sure that we transform our own goods.’’

“Today, between Ghana and Ivory Coast, they actually produce two-third of the world cocoa but the total amount of the export is $6 billion and the market is $100 billion and this illustrates that they are just working for other people. We need African brands and they should actually need to have some of their factories here,

He however urged Africans on branding, saying one needs to be sure of its quality and pricing for such a brand to be well accepted in the market. he added that once you have that nobody is looking where the shoes were manufactured saying most of the shoes in Italy are not manufactured in Italy or the US.

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In Nigeria, we used to do only one crop per annum but now we do two crops and get 1-2 tons per hectare. Now, we have varieties are giving us 8- tons per hectare. Farming is not a poor man business, you can actually rich faster in farming than doing something else, he noted.

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