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Aliko Dangote Signs $2bn Chinese Loan Deal to Build New Cement Plants in Edo

Aliko Dangote, Africa’s richest man

Africa’s wealthiest man, Aliko Dangote, has signed a $2 billion loan from the Industrial Commercial Bank of China Ltd for two cement plants, Reuters reports.

“The rate of interest is all right, favorable with me,” Dangote claimed, without specifying. “It’s for my two cement companies that we are establishing in Nigeria.”

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The offer consist of China Export & Credit Insurance Corporation.

Dangote has a cement empire in Nigeria and recently launched construction of a new cement factory in Edo state.

 


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