Dangote's US$75bn African ambition reaches Namibia

Namibia has become the latest destination in Nigerian billionaire Aliko Dangote's African industrial empire, in which his group has already invested more than US$25 billion and plans to spend another US$50 billion by 2030.Dangote launched a US$2.5 billion petroleum storage and regional pipeline project at Walvis Bay on Wednesday, bringing his ambition to connect Africa's energy markets to Namibia's shores.The project, launched alongside President Netumbo Nandi-Ndaitwah, is intended to turn Walvis Bay into a major petroleum distribution hub serving several Southern African countries.The Dangote Namibia Tank Farm and Regional Pipeline Project, located at Farm 58, about 10 kilometres east of Walvis Bay, is planned to occupy approximately 70 hectares, with storage capacity for 600 million litres of petroleum products.The facility would accommodate 360 million litres of diesel and 240 million litres of petrol, supported by a proposed pipeline extending approximately 1,700 kilometres into Southern Africa.The pipeline would connect Walvis Bay to Botswana, with wider distribution networks envisaged for Zambia, Zimbabwe, Malawi and the southern Democratic Republic of Congo."All put together, this project is expected to be about $2.5 billion of investment," Dangote said during the launch.The development also includes a proposed 16-kilometre pipeline connecting the port's fuel jetty to the storage terminal, alongside truck-loading and distribution facilities.Dangote intends to supply the network with petroleum products from his Nigerian refinery, linking West Africa's refining capacity to Southern African markets.Speaking at the Financial Times Africa Summit in London on 21 October, he highlighted Namibia's geographical advantage.“From our refinery to Namibia is just about four days of steaming,” he said.Part of US$50bn African expansionThe Namibian investment forms part of Dangote's strategy to expand industrial production, energy infrastructure and regional trade across Africa.His businesses span cement manufacturing, petroleum refining, fertiliser production and distribution infrastructure, with operations in Tanzania, Ethiopia, Zambia, Senegal, South Africa, Cameroon and the Republic of Congo, among other countries.During an investor engagement in Nairobi in September 2026, Dangote said his group had already invested more than US$25 billion and intended to commit another US$50 billion between 2026 and 2030.“We have already invested more than $25 billion, but right now, we’re going ahead to invest an additional $50 billion,” he said.“We want to create and generate wealth for Africans, to make sure that we defend our markets. And the only way to defend the market is not to do baby steps. It’s better we do big scale.”At Wednesday's launch, Dangote described the Walvis Bay development as part of efforts to connect African petroleum production, storage and distribution infrastructure."Africa must industrialise Africa," he said, indicating that the project could mark the beginning of further investments in Namibia."This is the first course. We don't want to just launch this scene and go away. Namibia deserves much more. Please give us more. We want to do more with your government," Dangote told Nandi-Ndaitwah.Dangote said the pipeline was intended to improve access to petroleum products and reduce supply costs for landlocked countries."So when we invest in the pipeline, it's not that we just want to make money out of the pipeline."He told Nandi-Ndaitwah that consumers could eventually benefit from lower fuel prices."And I can assure you, your excellency, your petroleum prices will be much, much cheaper than what they are today."The development could create opportunities for Namibian construction, engineering, transport and logistics companies, alongside local contractors and small businesses.However, the company has not announced a construction timetable or confirmed when the storage facilities and pipeline will become operational.The final pipeline route and length remain subject to engineering studies, surveys and regulatory approvals.Presidency takes chargeNandi-Ndaitwah revealed that she had placed the project directly under the Presidency to prevent bureaucratic delays that had previously discouraged investors."I then decided to place this project direct into the office of the president," she said.She explained that previous investment proposals, including a shipyard development, had failed to materialise after investors encountered administrative obstacles.The president subsequently directed National Planning Commission director-general Kaire Mbuende to oversee the Dangote project and keep her informed of progress."Please know that this project will remain presidential projects until it is completed," she said.She called on the relevant ministries, Namcor and Namport to cooperate with Dangote Industries, while announcing plans to broaden Namibia's local-content framework beyond oil and gas.African Export-Import Bank president George Elombi said the institution was prepared to support Dangote's wider investment ambitions and other credible African projects."And so we have no difficulty putting 10 billion dollars on the table for him because the money would not be lost," Elombi said.

Dangote's US$75bn African ambition reaches Namibia

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Namibian Sun 2026-11-05

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Dangote's US$75bn African ambition reaches Namibia

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Namibian Sun 2026-11-05

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