Africa-Press – Ethiopia. A 2.5 billion USD fertilizer complex investment agreement signed today in Addis Ababa, will position Ethiopia as Sub-Saharan Africa’s leading fertilizer producer, said Africa’s richest man, Aliko Dangote.
In the Presence of Prime Minister Abiy Ahmed, Ethiopian Investment Holdings and Dangote Industries Limited have signed a Fertilizer Complex Shareholder Investment Agreement.
With an investment of 2.5 billion USD, this mega project will produce up to 3 million metric tons of fertilizer annually, placing Ethiopia among the largest producers globally.
“I must congratulate his excellency (PM Abiy), you know, it is not that easy, just signing of having a fertilizer plant. No in Sub Saharan Africa, as we speak today, Ethiopia is now the second.
Apart from Nigeria, no country is doing urea, only Ethiopia and other countries like Mozambique and Tanzania have gas. But they are not lucky. There is no investor yet,” Dangote stated.
The billionaire praised Ethiopian Prime Minister Abiy Ahmed for driving the deal forward, noting: “His Excellency said that I’m not going to sleep unless I come and build urea. So that’s why we’re here today.”
Dangote added that once the plant is operational, Ethiopia’s GDP will see a significant boost.
“This is a major milestone, and I believe the Ethiopian people should truly appreciate what Prime Minister Abiy has done. He is a good friend and brother, a great leader who is focused.
Frankly, if he had not been on my neck for the past six months, this investment would not have been possible,” he said.
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