The Ethiopian government says it has signed a $2.5 billion fertiliser complex shareholder investment agreement with Dangote Group.
In a statement on Thursday, Abiy Ahmed Ali, the Ethiopian prime minister, said the mega project will produce about three million metric tons of fertiliser every year.
“Congratulations to all Ethiopians on another milestone in our journey toward food security and agricultural transformation. Today, we signed the Fertilizer Complex Shareholder Investment Agreement between Ethiopian Investment Holdings and Dangote Group,” he said.
“With an investment of $2.5 billion, this mega project will produce up to 3 million metric tons of fertilizer annually, placing Ethiopia among the largest producers globally.
“This project will create jobs locally, ensure a reliable fertilizer supply for our farmers who have long faced challenges, and mark a decisive step in our path to food sovereignty.”
Ali said it enhances Ethiopia’s competitiveness across Africa and demonstrates the country’s commitment to making strategic investments that benefit Ethiopians and secure their future.
In June, Aliko Dangote, president of the Dangote Group, said Africa will be self-sufficient in fertiliser supply within 40 months.
On May 26, the billionaire said Dangote Industries Limited (DIL) is targeting a $7 million daily revenue from the sale of fertiliser in the next two years
