Africa's richest man plans to invest in Indian data centers
What's the story
Aliko Dangote, Africa's wealthiest man and the President of the Dangote Group, is considering investing in data centers in India. His visit here comes as part of a broader plan to sign major agreements for expanding his Nigerian petroleum refinery and a major push into fertilizers in Ethiopia. During his stay, he is likely to sign several key contracts with Indian and global companies based in our country.
Expansion project
Dangote's ambitious plans for Nigerian oil refinery
Dangote intends to expand the capacity of his Nigerian oil refinery from 650,000 barrels per day to a whopping 1.4 million barrels per day. In a recent interview with CNBC-TV18, he talked about Africa's growth potential and the opportunities it offers for Indian businesses. He stressed on India's need to back its businesses in boosting exports to Africa, citing China's heavy investments in the region as an example.
Business support
Dangote advocates for export credit support
Dangote emphasized the importance of government support in export credit to strengthen India-Africa business ties. He noted that while China is doing a lot in this area, India is lagging behind. "They are not really supporting most of their companies to offer credit to investment like this in Africa," he said, hoping for a change in strategy that could open up more markets between the two regions.
Potential sectors
Key areas for India-Africa collaboration
Dangote has identified data centers, solar energy, cement, and pharmaceuticals as key areas for India-Africa collaboration. He said these sectors have a lot of potential for growth and could be explored further through trade visits. "I think sometimes these trade visits do help a lot in terms of opening up the market, in terms of looking at the opportunities that we have in Africa," he added.
Economic ties
A milestone in India-Africa relations
Dangote's visit to India is seen as a major step toward strengthening economic ties between the two regions. His interest in investing in data centers and other sectors is likely to open new avenues for Indian businesses and boost the Indian economy. Notably, Dangote's visit comes at a time when India's exports to Africa have crossed $51 billion, with total bilateral trade exceeding $100 billion in 2024-2025.