Dangote Calls Ethiopia 'Most Attractive Investment Destination in Africa' at 3 Billion Fertilizer Plant Groundbreaking

Addis Ababa, October 3, 2025 (ENA) -- Chairman of Dangote Industries Limited, Aliko Dangote, said that Ethiopia is the most attractive investment destination in Africa, commending the leadership of the country, including Prime Minister Abiy Ahmed, for the measures taken to reform the country’s economy.  

Dangote remarked this during a groundbreaking ceremony to lay the foundation stone for the construction of a urea fertilizer plant and an oil refinery in Gode, the Somali region of Ethiopia, in the presence of Prime Minister Abiy Ahmed and high-ranking government officials.

It is to be recalled that Ethiopian Investment Holdings and Dangote Industries Limited signed a Fertilizer Complex Shareholder Investment Agreement at the end of last August.

The agreement aims to build a fertilizer manufacturing plant complex with an investment of almost 3 billion USD to produce 3 million metric tons annually.

Dangote said during the groundbreaking ceremony that this partnership with Ethiopian Investment Holdings represents a pivotal moment in our shared vision to industrialize Africa and achieve food security across the continent.  

The strategic location of Gode, combined with Ethiopia’s natural gas resources from the Calub and Hilala reserves, makes this an ideal location for what will become one of the world's largest fertilizer complexes.

 

“We are committed to bringing our decades of experience in large-scale industrial projects to ensure this venture becomes the cornerstone of Ethiopia's industrial transformation, and a catalyst for agricultural productivity throughout the region,” Dangote affirmed.

He lauded the reform measures being taken by the government of Ethiopia to encourage investment.  

Dangote said as a result of the reforms and liberalization of its economy, Ethiopia has opened up key sectors to private investment, thereby creating opportunities that now attract global investors.

“Ethiopia today is the most attractive investment destination in Africa, and I stand here to congratulate my brother that Ethiopia will attract more investment of most countries in Africa. You are the leader, and that's why you are leading.”

These macro-economic and investment-friendly reforms have established Ethiopia as a dynamic, progressive nation that is open and ready for business, the billionaire remarked.  

He also commended Prime Minister Abiy for the infrastructural development in Ethiopia, which is an additional incentive and a true demonstration of the government’s commitment.   

Dangote also lauds the transformation of Cities in Ethiopia and a thriving international airport in Addis Ababa, which is a major hub for travel and a modern public transportation system.

He appreciated the government for giving priority to ensuring energy security citing the significant of the recently inaugurated Grand Ethiopian Renaissance Dam, the largest hydro project in Africa with a capacity of over 5000 megawatts, in this regard.

“No nation can advance industrially without having secured an energy base,” he finally underlined.