BizNis Africa
Latest News
Tony Elumelu Foundation wraps-up 2017 TEF Entrepreneurship Forum in Nigeria
The Tony Elumelu Foundation (TEF), Africa’s leading philanthropy dedicated to supporting entrepreneurship,...
New Discovery global head office certified green by GBCSA
The new Discovery global headquarters in Sandton Central has...
Q&A: How businesses in Africa can become cyber threat smart
Companies today have to invest in different ways to...
Orange officially launches in Sierra Leone
Orange, one of the world’s leading telecommunications operators, announces...
ICASA appoints new CEO
The Council of the Independent Communications Authority of South...
Africa to spearhead fourth industrial revolution
The Accenture Innovation Index 2017 indicates that we have’t...
Africa can feed 9 billion people by 2050
Africa holds the key for feeding the nine billion...
Africa can ignite innovative ingenuity for future tech leaders
The Accenture Innovation Index 2017 indicates that South African...
Accenture officially announces 2017 Innovation Index winners
Accenture, Transunion and The Da Vinci Institute have officially announced...
Digitisation drives new culture in African banking
Even more than the technology itself, innovative cultures able...

Lionel Barber, Financial Times Editor and Aliko Dangote, Nigerian Business Leader

Financial Times correspondent John Aglionby’s reporting in the fast FT online column that Nigerian businessman Aliko Dangote accuses ‘Bulldozer’ Tanzanian President of scaring away investors” appears to have caused an overblown row.

When Financial Times editor Lionel Barber asked Nigerian business leader Aliko Dangote in a live interview at the FT Africa Summit on 9 October 2017 about his relationship with Tanzanian President John Magufuli, Dangote smiled and replied positively, “It’s okay. I can always call him; I have his mobile number, and he listens to me.”
             
Asked to comment on investment policies across Africa, Dangote, whose $620M US investment in a cement factory in Mtwara is among the largest in that country, went on to say that Tanzania’s general policies “need to be looked at”. Sharing his experience as one of Africa’s most prominent investors with operations in 17 countries Dangote explained that policies scare away investors and that once an investor has left “it is very difficult to bring that investor back.”
            
Dangote was referring to Tanzania’s investment law concerning the extractive industries which requires foreign investors to yield 16% “free carried interests” to the government, although he did clarify that this was not applicable to cement. Dangote pointed out that the policy could lead to others which could dilute control of assets in a country, a concern that is generally factored into corporate decisions on investing in foreign markets.
            
“Sometimes it is just a matter of communication”, Dangote said when describing how investors sort out contractual arrangements with foreign goverments. With regard to his $620 M USD investment in Tanzania he added “I’m sure we will engage them and try to resolve the issue.”
            
Tanzanian Investment Minister Charles Mwijage responded immediately to charges reported in the Financial Times defending his government’s policies aimed at ensuring Tanzania’s benefits from the country’s resources and underscoring how accommodating the government has been in facilitating Dangote’s project in the country.
            
Investors at the one-day FT Africa Summit which hosted the live interview with Africa’s most prominent industrialist seemed to agree that Dangote had not “accused” the Tanzanian President, but had only warned that policies need to be clearly defined and investors need to be reassured that their investments are safe. “There was nothing at all in Mr. Dangote’s comments directed to President Magufuli,” one attendee remarked.

Leave a Reply

Ver peliculas online
%d bloggers like this: