Aliko Dangote: Tanzania offers a competitive investment environment

Nigerian businessman Aliko Dangote, Africa's richest person, confirmed that Tanzania has a "competitive investment environment" and offers promising opportunities in many sectors, following his talks with Tanzanian President Samia Suluhu Hassan in the capital Dar es Salaam on Sunday.

The Tanzanian presidency explained in a statement that the meeting addressed opportunities for cooperation in the areas of transport infrastructure, local fertilizer production, and investment opportunities in the energy sector, which contribute to supporting regional economic integration and promoting development in East Africa.

Aliko Dangote: Tanzania offers a competitive investment environment... and we are considering establishing a giant oil refinery in East Africa.

This meeting comes at a time when Dangote is considering the possibility of establishing a similar version of his giant company's refinery, which has a production capacity of 650,000 barrels per day, in the East African region, where he is currently evaluating the option of establishing the project in Tanzania or Kenya.
If implemented, the project would enhance the region’s oil refining capabilities, reduce dependence on fuel imports, and support industrial investments and the development of energy infrastructure.