LAGOS, Nov 1 – Nigeria’s Dangote Group is exploring investment opportunities in Egypt, with potential commitments of between $10 billion and $15 billion as the conglomerate seeks to expand its industrial operations across North Africa.
The latest engagement followed a visit to Dangote Industries Limited in Lagos on Sunday, November 1, 2026, by Egypt’s Minister of Investment and Foreign Trade, Mohamed Farid Saleh, accompanied by a delegation of senior government and industry officials.
Group President and Chief Executive Aliko Dangote received the delegation, describing the engagement as an opportunity to advance African economic integration and support the company’s Vision 2030 ambition to expand industrialisation across the continent.
Dangote has previously identified oil refining and petrochemicals as the likely foundation of the group’s proposed Egyptian investments. Speaking last month, he said the initial commitment could reach approximately $10 billion, with the total potentially exceeding $15 billion depending on the outcome of discussions with Egyptian authorities.
He said he wanted to position Egypt as a significant exporter of refined petroleum products rather than relying primarily on imports. Dangote also indicated that discussions with Egyptian officials had been positive and that he intended to work with the country’s investment authorities to identify specific projects.
Egypt has also expressed interest in establishing a long-term strategic partnership with the Nigerian conglomerate.
On October 15, Mohamed Awad, chief executive of Egypt’s General Authority for Investment and Free Zones, conveyed the government’s position at a Dangote event held at the historic headquarters of the Egyptian Exchange in downtown Cairo.
Representing Investment and Foreign Trade Minister Mohamed Farid, Awad said Egypt wanted to deepen investment partnerships with major African conglomerates and develop a long-term relationship with Dangote Group.
A potential investment would represent the group’s largest expansion into North Africa, extending its presence beyond its established operations in cement, sugar, flour, fertiliser and petroleum refining.
The proposed Egyptian expansion also forms part of Dangote’s broader Vision 2030 strategy. The businessman has set a target of $100 billion in annual group revenue by 2030 and pledged to commit as much as $50 billion to industrial projects across Africa over the same period, using a combination of internal cash generation, equity and debt financing.
The group’s investment pipeline includes a proposed 530-kilometre subsea gas pipeline, up to 10,000 megawatts of power generation capacity, a linear alkylbenzene plant with annual capacity of 400,000 metric tonnes, expanded urea fertiliser and polyethylene production, and a target of 100 million tonnes in annual cement production capacity at Dangote Cement, Africa’s largest cement producer.
The scale and composition of the potential Egyptian investment have yet to be finalised. However, refining and petrochemicals are expected to feature prominently as the group assesses opportunities in one of North Africa’s largest economies.
Dangote’s existing connections to Egypt also extend beyond business. He studied business at Al-Azhar University in Cairo before building his fortune through investments in cement, sugar and flour, followed by expansion into fertiliser and petroleum refining.
A major commitment in Egypt would mark a significant step in the group’s continental expansion strategy, while potentially strengthening industrial and investment links between Africa’s two largest economies by market size.
