The facility underscores AFC’s strong confidence in Dangote Group’s vision to drive industrial growth.
Countries such as Egypt, Kenya, Rwanda, Namibia, and Tanzania have increased or planned gold purchases to diversify from reliance on foreign currencies.
Mr Alake commended AFC and SMDF for aligning with the ministry’s seven-point agenda through the partnership.
The report argues that the problem is not a lack of resources but Africa’s failure to convert raw minerals into finished products such as steel, aluminium and fertilisers.
This, Mr Onyia said, would draw investors from across various industries locally and internationally.
Investing in northern Nigeria is integral to IFC’s strategy to promote sustainable development in underserved regions.
“Our future depends on strengthening Africa’s capacity to finance our own growth. Yet Africa’s financing needs are growing and will only get bigger as our population expands.”
