Alhaji Aliko Dangote, the Chairman of the Group, said he would ensure every single Steel used in West Africa comes from Nigeria.
He disclosed this, during an interview at the just concluded Afreximbank’s Annual Meetings in Bahamas.
The ongoing three-day event, which started on June 12, and runs till June 15 in the Bahamas, is jointly with the 3rd AfriCaribbean Trade and Investment Forum (ACTIF).
Dangote said “We are not going to take any break after the success of the Petroleum Refinery, what we are trying to do, is to at least in West Africa, we want to make sure that every single steel that we use comes from Nigeria.”
The African richest man noted that the Continent presents vast opportunities yet to be explored and advised entrepreneurs to be focused on actualizing their dreams.
While encouraging entrepreneurs, he said “First of all, they have to understand what they are doing.
That is, they have to understand the business. Although you can not do everything by yourself. You have to be very very focused, and tough because it is not easy, being in business is not child’s play.
“So you must have the vision right from the beginning and you have to see how you can actualize the vision. We have 1.4 billion people and most of the economies in Africa are doing extremely well.
“So what we need, that is missing, is actually to pay more attention to Agriculture, and Solid minerals. I do not like people to come and take our solid minerals to process and bring the finishing product. We should try and industrialize our continent and that will take us to the next level.”
Meanwhile, in his welcome remarks, Mr. John Rolle, Governor of the Central Bank of The Bahamas, encouraged attendees to capitalize on the opportunities to learn, share, and network.
He mentioned that the Caribbean could benefit from learning more about the Pan African Payment and Settlement System (PAPSS) from Africa.
According to him, with support from Afreximbank, the Central Banks across the Caribbean Community (CARICOM) can work towards replicating that system.
Mr Rolle, said: “A successful project in the Caribbean could keep us on pace to deliver on targets that are already being set for an international payment system that, even at the retail level, is more integrated, faster, and significantly cheaper for the average consumer.
If we perfect the multilateral cross-border payments and settlements arrangement, it could also help us to conserve the use of precious international reserves, especially if we expand intra-regional trade.”
Similarly, Mr Denys Denya, Senior Executive Vice President of Afreximbank, in his remarks, said the AAM and ACTIF2024 were a reunion of all Africans in the context of Global Africa and would help shape the shared vision and aspirations of the Caribbean region and Africa.
Mr Denya said: “For a continent that is endowed with such an abundance of natural resources, the quest for sustainable development has been a perennial struggle. The state of development across the Caribbean region, while not identical, is not quite different from this narrative.
It is in this context of sustained deprivation and marginalization, that we seek to unify our forces in the context of Global Africa for a better future. In our unity, we have the numbers, we have the voice to sit at the table when decisions are made. We are a viable force to influence global decisions.”
In the same vein, Ms Pamela Coke-Hamilton, Executive Director of the International Trade Centre, emphasized the significant trade potential between Africa and the Caribbean, projecting trade to reach $1.8 million annually by 2028. She suggested it is time to explore establishing a free trade area between Africa and the Caribbean.
“Trade agreements are one way to help bring down barriers and open new opportunities,” said Ms Coke-Hamilton
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