Dangote Unveils $2.5Bn Namibia Fuel Hub, Raises Africa Investment Target To $60Bn
By Sunday Etuka
Aliko Dangote has raised his Group’s Africa investment target for 2030 from $50 billion to $60 billion, as he launched a $2.5 billion fuel storage and pipeline project in Walvis Bay, Namibia, that is designed to supply cheaper petroleum products to landlocked countries across Southern Africa.
Speaking at the official launch of the Dangote Namibia Tank Farm and Regional Pipeline Project, the President and Chief Executive of Dangote Industries Limited said the Group wants to build interconnected centres of production, storage and distribution across the continent.
“What we are launching today represents an investment of $2.5 billion, but Namibia deserves much more. We want to invest more and do more with your government,” he said.
Dangote, in a statement made available on Wednesday, disclosed that the facility, located near Walvis Bay, will hold 360 million litres of diesel and 240 million litres of petrol.
The roughly 1,700-kilometre pipeline network will link Namibia to key markets in Botswana, Zambia, Zimbabwe, Malawi and parts of the Democratic Republic of Congo. “We want to invest heavily so that landlocked countries can access petroleum products at cheaper prices,” he said.
The infrastructure is expected to make Namibia a strategic fuel distribution hub for the region, improving supply reliability and reducing transportation costs.
Namibia’s President, Dr Netumbo Nandi-Ndaitwah, hailed the project as a landmark investment that will accelerate Africa’s industrialisation, strengthen regional energy security and deepen economic integration.
She praised Dangote for showing confidence in Africa’s economic potential and described the occasion as the most memorable day of her presidency.
“Today is the most memorable day of my presidency,” she said, adding that the investment reflects the growing capacity of African entrepreneurs to drive the continent’s transformation.
She said the project aligns with Namibia’s development priorities and the goals of the African Continental Free Trade Area (AfCFTA), while creating opportunities for employment, skills transfer and industrial expansion.
The Governor of Erongo Region, Dr Nathalia ǀGoagoses, also welcomed the investment, describing it as a strategic initiative that will strengthen Namibia’s role as a gateway for trade, investment and regional economic integration.
Reaffirming his belief in the continent’s potential, Dangote said Africa has the resources, talent and markets needed for sustainable industrialisation. “Africa must industrialise Africa,” he declared.
He concluded by pledging the Group’s long-term commitment to Namibia and Southern Africa, with continued investment in infrastructure that promotes growth, job creation and prosperity.
