Ghana among ‘most promising’ African nations for investment – Dangote
Africa’s richest person and foremost industrialist, Aliko Dangote, has named Ghana among a select group of countries on the continent that hold the most promise for investors.
Speaking during a recent episode of the In Good Company podcast hosted by Nicolai Tangen, head of Norway’s massive sovereign wealth fund, the founder and CEO of the Dangote Group highlighted Ghana’s favorable economic landscape. Out of 54 African nations, Dangote singled out just ten countries where global and domestic capital can confidently deploy and expect strong returns, directly noting that “Ghana is doing extremely well.”
The endorsement from the multi-billionaire business mogul comes at a critical time as African markets compete fiercely for international investments amidst global economic shifts. Dangote, who has built a vast industrial empire spanning 17 African nations and plans to deploy an additional US$45 billion across the continent by 2030, emphasized that resources alone do not dictate a nation’s viability; rather, regulatory stability and a welcoming climate for private capital are the ultimate deciders.
“There are more than ten very good countries in Africa that you can go and invest,” Dangote stated, positioning Ghana alongside other notable economies including Nigeria, Kenya, Ethiopia, Rwanda, Egypt, Tanzania, Algeria, Côte d’Ivoire, and Guinea.
While discussing other high-potential nations, Dangote offered a nuanced perspective, noting that countries like Algeria possess immense promise but remain heavily restricted to foreign investors. Conversely, Ghana’s market integration and historical openness to cross-border commerce give it a competitive edge in attracting sustainable economic partnerships.
Economic analysts indicate that Dangote’s vote of confidence in Ghana aligns with the country’s strong foundational pillars, which include a resilient financial technology ecosystem, robust mobile money leadership, and democratic stability. Ghana’s strategic role as the host of the African Continental Free Trade Area (AfCFTA) Secretariat further elevates its status as a commercial gateway to West Africa and the broader continent.
The Dangote Group itself maintains a long-standing footprint in Ghana, notably through its Dangote Cement factory operations in Tema, which have successfully supplied the domestic construction sector for over a decade.
Local financial experts have welcomed the billionaire’s remarks, describing them as a significant marketing boost for the country’s investment promotion strategies. However, they also caution that to fully capitalize on Dangote’s endorsement, Ghana must continue tackling macroeconomic challenges, maintaining structural reforms, and improving regulatory predictability to turn this high-level praise into tangible industrial developments.
