Only increased production can make AcFTA work - Aliko Dangote
NIGERIAN multi-billionaire and Nigerian investor of note, Aliko Dangote believes the Africa Continental Free Trade Area (AcFTA) is a fantastic mechanism which could catapult African countries to greater economic heights, only if the continent increases its production.
Speaking at the Sandton Convention Centre yesterday in the second day of the Africa Investment Forum (AIF), Dangote observed how many countries keep importing goods from other continents, even what they eat.
“We should always bear in mind that when you import something, you are importing poverty and creating jobs elsewhere,” Dangote warned.
The Nigerian billionaire also cautioned that for Africa to industrialise, Africans themselves must take the lead.
He also warned governments against overtaxing investors.
In a plenary session held later during the course of yesterday, Dangote said: “We should all want to leave the legacy of transforming Africa to become like India and China. No one will transform the continent but us,” he said, also jokingly recalling how great entrepreneurs and industrialists like Ford had made America great instead of president Donald Trump.