British-Sudanese billionaire Mo Ibrahim has praised Aliko Dangote’s $20 billion refinery as a powerful example of African capital driving the continent’s development, as Africa’s richest man, worth an estimated $28.5 billion, considers building a second refinery in East Africa.
Mo Ibrahim, the telecommunications pioneer who founded Celtel and now chairs the Mo Ibrahim Foundation, has cited Aliko Dangote’s refinery in Nigeria as evidence that African investors can finance major projects capable of addressing the continent’s development challenges.
In a recent interview with Business Insider Africa, Sir Mo Ibrahim was asked about the role African billionaires and private capital should play in the continent’s development.
“Of course they have a key role to play, and many of them already do,” he said.
He pointed to Dangote and the construction of the Dangote Petroleum Refinery near Lagos as an example of what African private capital can achieve.
