Ethiopian government has signed a $2.5 billion shareholder investment agreement with Dangote Group for the construction of a large-scale fertiliser complex.
Gatekeepers News reports that announcing the deal on Thursday, Prime Minister Abiy Ahmed Ali described it as a major stride for the nation’s agricultural sector.
He said, “Congratulations to all Ethiopians on another milestone in our journey toward food security and agricultural transformation. Today, we signed the Fertilizer Complex Shareholder Investment Agreement between Ethiopian Investment Holdings and Dangote Group.”
According to Ali, the project, valued at $2.5 billion, will produce up to three million metric tons of fertiliser annually, a capacity that would place Ethiopia among the leading producers worldwide.
He added, 0This project will create jobs locally, ensure a reliable fertilizer supply for our farmers who have long faced challenges, and mark a decisive step in our path to food sovereignty.”
The prime minister further noted that the plant will boost Ethiopia’s competitiveness on the continent while reflecting the government’s commitment to strategic investments for long-term benefits.
This development comes after Aliko Dangote, president of Dangote Group, reaffirmed in June that Africa could achieve self-sufficiency in fertiliser supply within 40 months.
Earlier in May, he projected that Dangote Industries Limited (DIL) aims to generate $7 million in daily revenue from fertiliser sales within two years.
