African leaders are creating more challenges for businesses to thrive on the continent and contribute to development, Africa’s wealthiest man, Aliko Dangote opines.
The Industrialist and Chairman of the Dangote Group has expressed frustration about the unstable policies of various African governments that give investors the biggest headache.
“I think the biggest challenge we have as entrepreneurs in Africa is the inconsistency in policies,” the 67-year-old billionaire lamented at the recent Africa CEO Forum in Kigali, Rwanda.
“Today, you (governments) say we are going [to do this]. The goalpost is here, just in front of you. When you are about to score the goal, the government will remind you that, no, the goalpost has been changed to behind you”.
For him, “these are the main issues” that could run down any business and “bankrupt anybody”.
Consequently, he has charged leaders to be stable to help investors have better long-term plans that can revolutionize the continent and spur self-sufficiency.
“Our own political leaders; what you need to understand is that it is a win-win. You can’t clap with one hand. You clap with two hands”.
The 67-year-old’s woes have reignited a fresh firestorm about the frustrations of doing business on the continent.
In a random conversation with an associate, Alhaji Aliko Dangote said the person claimed that the Dangote empire was making “too much money because of the cement, etc”.
However, he advised the person to check their financial reports, insisting that “for everyone one naira that I turnaround, the government collects 52% through various taxes”.
“So, it is not a tea party. Everybody is benefitting,” he insisted, as he outlined many interventions and programmes embarked on by the Dangote Group that have benefited several governments and individuals on the African continent, especially in cutting down unemployment.
“At the refinery we built, we had, at a point, 67,000 workers, with 35,000 of them from Nigeria who we trained, and I can assure you that by the time we finished the project, there were better fitters, welders, than the people we brought from India and other countries – well certified”.
Another frustration for Alhaji Dangote is his inability to travel across 53 African countries using his Nigerian passport. He only acquired 35 visas, which he said was not so for foreigners visiting Africa.
“As an investor, as someone who wants to make Africa great, I have to apply for 35 different visas on my passport,” he pointed out.
“I don’t have the time to go and drop off my passport in embassies to get a visa,” he said, prompting a burst of laughter from the audience.
Therefore, he is challenging African leaders to tackle some of these issues to boost intra-African trade and put the continent on the path of development.