Chairman and Chief Executive of Dangote Group, AlikoDangote, has said that Africa can create 50 billionaires like himself due to the establishment of the Africa Continental Free Trade Area (ACFTA) and with the support of African Development Bank (AfDB), African Export Import Bank (Afreximbank) and other financial institutions. According to him, ACFTA will enable African entrepreneurs to invest across Africa and be able to sell their products and services in different African countries without any hindrance. And supported by AfDB, Afreximbank and other financial institutions, he said, entrepreneurs will have access to investible funds to grow their businesses.
For young African entrepreneurs to become as successful and as big as Dangote, the richest man in Africa said they must have a vision, they must work hard and they must be patient. Unfortunately, he said, many young African entrepreneurs are in a hurry to make it, and he said that will not work. He said he had been in business for 45 years now, meaning that he did not get to where he is now overnight.
Dwelling on how to boost intra-African trade, Dangotesaid ACFTA is a fantastic idea in this regard. He said ACFTA will help boost intra-African trade. Hehowever, bemoaned the unwillingness of some African governments to allow easy entry into their countries. He said that restriction of movement in the African continent will adversely affect the realization of the objectives of the ACFTA, which is boosting intra-African trade. For Africans to invest in Africa, there should be free movement within the continent, he said.According to him, it will be difficult for AFCTA to create the expected trade boom within the continent if there is no free movement within the country. He therefore urged the governments of the various African countries to ensure free movement within the continent.
Turning to Afreximbank, Dangote paid glowing tribute to the bankwhich turned 30 years this year for supporting African businesses. He said that without the support of Afreximbank the vision of building Dangote Petroleum Refinery and Petrochemical Company would not have been realized. He said Afeximbank gave Dangote Petroleum Refinery and Petrochemicals the needed financial backing which helped in building the refinery.