Thursday November 8, 2018 - Africa’s richest man, Aliko Ndangote, has decided to invest in Kenya barely a year after pulling out from investing in Kenya citing corruption and bureaucracy.
Early this year, Dangote spoke with former CNN journalist, Jeff Koinange, and explained why he pulled out of investing in Kenya.
Dangote, who is a Nigerian national, explained that corrupt, greedy, bribe-seeking politicians in Kenya frustrated his bid to invest in mining and cement making in the country.
“Aliko Dangote wanted to establish a plant in Kenya but it was obstructed by the greed of our people. Greed!!! And I asked him the other day: ‘Alhaji, when are you coming back to Kenya?’ And he replied: ‘Look, there are people over there who put greed and personal interest ahead of national interest Jeff. I didn’t think Kenya would be so corrupt more than Nigeria.’ Jeff said.
But despite speaking badly about Kenya, Dangote has decided to invest in Kenya after President Uhuru Kenyatta and NASA leader, Raila Odinga, intervened.
Dangote through his company Dangote Cement is in talks to take over troubled cement manufacturer, Athi River Mining (ARM).
A takeover of ARM by Dangote would provide the much-needed capital and expertise to revive the firm.
ARM has also been suspended from trading on the Nairobi Securities Exchange following their placement under administration.
The Kenyan DAILY POST