Dangote says Africa conducive for investments

Abuja - Prominent businessman, Aliko Dangote, said Nigeria and many other countries in Africa had created opportunities for international entrepreneurs to invest in the continent. He dismissed the widely-held view the environment was not conducive for investors to exploit business opportunities. “People talk only about the bad side, but there are lots of opportunities,” he said at the ongoing World Economic Forum on Africa held in Abuja. He is a Co-Chair at the event. Dangote added that Nigeria and many other countries created opportunities for capital allowance, zero duty and valued-added tax on machinery, as well as tax holidays. His company, he said, took the risk of investing in Nigeria. “The biggest challenge today is that some [Africans] would rather keep money abroad. You are not creating confidence. You must invest your own money to encourage foreign investors.” Rated as the continent's richest man, he is the President and Chief Executive Officer of Dangote Group.