Posted by News Express | 3 June 2013 | 3,672 times
Leading Pan-African investor, Aliko Dangote, has donated $1 million to facilitate access to education and economic empowerment for the women and children based in Mtwara, Tanzania.
The donation, which President/Chief Executive of Dangote Group said is in line with the Group’s corporate social responsibility (CSR) policies, came hot on the heels of last week’s groundbreaking ceremony of a $500 million cement plant in the area.
Excited at the siting and potential economic benefits of the new cement plant, Prime Minister of Tanzania, Mizengo Pinda, has commended Dangote for looking in the direction of his country for the investment in the new 3 million metric tonnes cement plant.
Addressing the gathering during the groundbreaking ceremony exactly a week ago, he said the commencement of the construction of the plant signaled the beginning of a new business relationship between Nigeria and Tanzania.
Pinda, who expressed happiness that the investment came from a sister African country, said prior to the coming of Dangote Cement, Tanzania was experiencing a deficit in cement production and supply, despite the abundance of limestone in Mtwara. Limestone is a key raw material in cement manufacture.
Said the Tanzanian leader: “We could not bring in cement plants with capacities to produce cement in large quantities so that demand of cement would be met. Growing demand for cement with inadequate supply led to deficit and high prices.
“While this was becoming a growing concern to the government, we came to know about the availability of cement grade limestone in huge quantities in this village in Mtwara. But this was a challenge for us, as Mtwara is quite far from the market of cement, which is mainly in the cities.”
Pinda said the discovery prompted the search for investors who could put up a large cement plant, along with facilities at the port for transporting the cement all over Tanzania. The search, he stated, led them to the Dangote Group, which agreed to invest in the country.
In his address, Dangote said the construction of the facility was a familiar turf for his company as it has done same in other parts of Africa. He expressed the hope that the new investment will strengthen the ties between Nigeria and Tanzania. Commending the government of Tanzania for recent public sector and banking reforms, he said they have spurred private sector investment.
Dangote’s words: “We are excited for two major reasons. The first being that today’s event is a significant milestone for us in our quest to build a pan-African cement company. We are excited that an African company is making this investment in a sister African country. This indeed, shows that Africa is gradually taking its destiny in its own hands rather than wait for investors from outside Africa. Investment in the real sector of the economy is the only way that our continent can achieve the much desired accelerated growth and development that we have yearned for.”
•Photo shows Dangote.
No comments yet. Be the first to post comment.