It is often said that where there is a will, there will be a way. The fact that the private sector is in a better position to drive the economy of any nation has been proven beyond all doubt. Bill Gates has not only revolutionized the ICT sector but has also set the pace for BizTech to follow. The notable Nigerian billionaire, Aliko Dangote, wants to do for agriculture what Bill Gates did for ICT.
The headquarters of the global law firm, Shearman and Sterling LLC in New York, US, was recently packed full with high level business leaders and international diplomats invited by the Corporate Council for Africa to hear Africa’s richest man, Aliko Dangote, and the re-elected Rwandan president, Paul Kagame, openly discuss Africa’s opportunities and challenges.
Both leaders underscored the ongoing movement to diversify African economies. In the case of Nigeria, Africa’s largest economy, Dangote stated “we should pray that oil prices remain low. This helps wean us off the dependency on revenues from petroleum. We must take oil to be the icing on the cake. We already have the cake,” he pointed out.In addition to agriculture Dangote cited Nigeria’s vast mineral resources and gas as well and the need to manufacture more goods locally for domestic consumption. Both he and President Kagame cited continued need for heavy investments in education and connected the need for young people to be well trained for the jobs of tomorrow.
Dangote predicted that “five of the twelve million jobs needed in Africa soon must be created in Nigeria.” His areas of interest which include investments in cement, sugar, and other household commodities have expanded into fertilizer and other processed high-value goods. “Technology of course helps us a lot and our factories are state of the art with the use of robotics but we shouldn’t be overly tech oriented to create wealth,” he told investors.
Mr. Dangote who is often cited as one of the most inspiring business leaders in the world today and a model for young entrepreneurs offered advice to Americans who tend to rely on outdated news and wrong perceptions of Africa, “Don’t be lazy. Go there and find the real story for yourself. Things have changed.”Dangote noted the Rwanda success story where he has business interests as an example of positive change, good governance and leadership, and where corruption has been cured. He cited a personal experience of offering a $100 tip for services at the Kigali Airport to a field worker who refused to take money for work they were paid to do. President Kagame was praised for delivering the environment for the kind of growth he promised. “There is nothing African about corruption,” the Rwandan president declared.
The session was moderated by Rosa Whitaker, former US Trade Representative and author of the AGOA (African Growth Opportunity Act), whose business consultancy is credited for helping both African governments and US companies develop commerce.
