Aliko Dangote, Africa’s wealthiest man, says he has negotiated loans of $4.25 billion from banks to build a refinery to help the continent’s largest crude oil producer reduce gasoline imports.
Dangote Group, owner of the company with Nigeria’s biggest market value, is seeking a $3.5 billion loan to fund projects including an oil refinery
Dangote Group is seeking a $3.5 billion loan, while CCM Merger Inc., the operator of MotorCity casino, set the rate on a $531 million credit on which it’s lowering borrowing costs.
An end to sugar quotas in the European Union, expected by the EU Council as early as 2017, may promote trade of the sweetener within Africa as Ethiopia and Nigeria plan to raise output, said Ecobank Transnational Ltd.
Dangote Group of Nigeria plans to build what it says will be Africa’s biggest fertilizer plant in the country’s southern Edo state, with production scheduled to start by 2014.
Dangote Industries Ltd. signed an agreement with the Zambian government to build a cement plant in the southern African country, the Nation reported.
Dangote Cement Plc plans to build plants in Gabon, Democratic Republic of Congo, Algeria and Tanzania, the Nation reported, citing a statement from the company.
Dangote Cement Plc , Africa biggest producer of the building material, plans to invest $3.9 billion constructing plants in countries including Ethiopia, Tanzania, Republic of Congo and Gabon.
Dangote Group of Nigeria plans to start its cement factory in Sierra Leone by 2013, according to the press office of President Ernest Bai Koroma, who met Dangote Chief Executive Officer Aliko Dangote.
Africa may have as many as 200 “hidden” billionaires operating in the unofficial economy who will seek to legitimize their wealth in the future, investor Mark Mobius said.