Aliko Dangote, Chairman of the Dangote Group, has introduced a brand new funding of $400 million to broaden the Mugher cement plant in Ethiopia, elevating its capability from 2.5 million to five million tons per yr. The Mugher plant started operations in 2015 however has confronted quite a few challenges, together with the vandalism of apparatus and the tragic killing of three employees members. However, the Dangote Group is dedicated to strengthening its Ethiopian footprint. Dr. Brook Taye, CEO of Ethiopian Funding Holdings (EIH), welcomed the transfer as an indication of confidence within the nation’s enterprise setting. Past cement, Dangote Group plans to spend money on the Omo Kuraz Sugar Firm with the EIH. Moreover, it’s contemplating a urea manufacturing facility, pending the event of Ethiopia’s pure fuel sector. Praising Ethiopia’s bettering funding local weather, Dangote reiterated that African enterprise leaders should complement political efforts to drive the continent’s financial progress.
Supply: Business Insider Africa
