The company has secured $600 million (77 billion Kenyan shillings) in financing from AFC, which will be used to support its fertilizer subsidiary, Greenview Fertiliser Corp. The Greenview initiative is expected to triple production capacity in Nigeria and create a significant new manufacturing facility in Ethiopia.
«Increasing our production capacity in Nigeria and setting up a new plant in Ethiopia will enhance food security in Africa, support agricultural productivity and strengthen the continent's industrial base. AFC has consistently supported Dangote Group at key points in our development, and their renewed commitment demonstrates their trust in our commitment to create globally competitive African industrial platforms», said Aliko Dangote, Head of Dangote Industries Limited.
The company expects that the expansion program will increase the production of urea fertilizers in Nigeria from 3 to 9 million metric tons per year. The financing will also enable Greenview to build a new plant in Ethiopia with a capacity of 3 million metric tons annually. This should strengthen food security in the region, increase agricultural efficiency, reduce dependence on imported fertilizers, and strengthen the continent's position as an international supplier. «Closing this production gap is vital to ensure food security in Africa. By supporting the development of the world's largest fertilizer production platform, AFC is helping to build the foundation for Africa to feed itself, create productive jobs, and strengthen its economic sovereignty. This is not just an investment in fertilizer production, it is a demonstration of the kind of Africa we are building», said Samaila Zubairu, President of AFC. These investments are expected to increase the urea production capacity on the continent, which currently stands at 6 million metric tons per year.
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