President of Dangote Group, Aliko Dangote, has announced plans to invest more than $10bn in Africa’s power sector over the next three to four years.

Dangote disclosed the plan during an interview with Al Jazeera, stating that the investment would support efforts to tackle the continent’s electricity shortage and promote economic development.

According to him, power has become a major focus of his business strategy as he seeks to contribute to a broader transformation of Africa’s economy.

He said the group was considering moving funds from some businesses, including a possible reduction in its investment in steel, towards the power sector.

“We want to invest over $10 billion alone in power,” Dangote said.

The businessman said the continent’s electricity shortage remained a major barrier to development, noting that more than 600 million Africans still lack access to electricity.

He described the situation as unacceptable and called for greater efforts to expand access to reliable electricity across the continent.

Dangote also linked dependable power supply to economic and industrial growth, stressing that businesses and industries could not achieve sustained expansion without adequate electricity.

He said delivering reliable power should be a major priority for African governments because electricity is fundamental to economic development.

“So power is key. We will never, ever create growth without power,” he said.

The planned investment is expected to form part of Dangote Group’s broader expansion strategy as the company explores opportunities in Africa’s power sector.