The richest man in Africa and the Chairman of Dangote Group – Aliko Dangote plans to invest up to $50 billion in the U.S. and Europe by 2025. The 60-year old Nigerian business tycoon said in a Bloomberg interview that he plans to focus on renewable energy and petrochemicals when he moves into these territories in 2020, after completing his $11 billion oil refinery and $5 billion agricultural projects in his home country, Nigeria. “Beginning in 2020, 60 percent of our future investments will be outside Africa, so we can have a balance,” said Dangote, worth $11.6 billion, according to Bloomberg’s Billionaires Index. Dangote Group’s major investment will be in the U.S. and Europe, he said. “I think renewables is the way to go forward, and the future. We are looking at petrochemicals but can also invest in other companies.” Dangote, who has diversified across broad industries in the last five years. Expanded his Dangote Cement Plc, which accounts for about 80 percent of his...
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