Dangote Group has signed a deal to build a $2.5 billion fertiliser manufacturing plant in Ethiopia as part of its expansion efforts. Ethiopian Prime Minister Abiy Ahmed announced the deal on Thursday in a post on the social media platform X.
Aliko Dangote stated that the investment represented a “shared vision to industrialise Africa and achieve food security across the continent”.
The plant, which is to be located in Gode town in Ethiopia’s southeast, is part of Nigerian billionaire Aliko Dangote’s efforts to end Africa’s fertiliser imports. The plant will produce 3 million metric tons of fertiliser a year, Abiy said.
Ethiopia will have a 40% stake in the venture signed by state-owned Ethiopian Investment Holdings (EIH) while Dangote Group will own 60%, EIH Chief Executive Brook Taye said at the signing ceremony in Addis Ababa.
