Aliko Dangote says “Sometimes it is just a matter of communication”
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By APO Group – Africa Newsroom
Financial Times editor Lionel Barber asked Nigerian business leader Aliko Dangote in a live interview at the FT
Financial Times correspondent John Aglionby
Africa Summit on Monday about his relationship with Tanzanian president John Magufuli
LONDON, United Kingdom, October 10, 2017/ — Financial Times correspondent John Aglionby’s reporting in the fast FT online column that Nigerian businessman Aliko Dangote “accuses ‘Bulldozer’ Tanzanian president of scaring away investors” appears to have caused an overblown row.
Tanzanian President John Pombe Magufuli surprised the world by flying in Economy section of the Ethiopian plane with other civilians
Lionel Barber has been editor of the Financial Times sine November 2005
When Financial Times editor Lionel Barber asked Nigerian business leader Aliko Dangote in a live interview at the FT Africa Summit (http://APO.af/qv2dZF) on Monday about his relationship with Tanzanian president John Magufuli, Dangote smiled and replied positively, “It’s okay. I can always call him; I have his mobile number, and he listens to me”. https://www.facebook.com/bbcafrica/videos/10155329216980229/
Asked to comment on investment policies across Africa, Dangote, whose $620M US investment in a cement factory in Mtwara
Prime Minister Mizengo Pinda unveils plaque to inaugurate the Dangote cement factory at Hiari village in Mtwara Region
is among the largest in that country, went on to say that Tanzania’s general policies “need to be looked at”. Sharing his experience as one of Africa’s most prominent investors with operations in 17 countries Dangote explained that policies scare away investors and that once an investor has left “it is very difficult to bring that investor back.”
Alhaji Aliko Dangote
Dangote was referring to Tanzania’s investment law concerning the extractive industries which requires foreign investors to yield 16% “free carried interests” to the government, although he did clarify that this was not applicable to cement. Dangote pointed out that the policy could lead to others which could dilute control of assets in a country, a concern that is generally factored into corporate decisions on investing in foreign markets.
“Sometimes it is just a matter of communication”, Dangote said when describing how investors sort out contractual arrangements with foreign goverments. With regard to his $620 M USD investment in Tanzania he added “I’m sure we will engage them and try to resolve the issue.”
Tanzanian Investment Minister Charles Mwijage at FT Africa Summit 2016
Tanzanian Investment Minister Charles Mwijage responded immediately to
Tanzanian President John Magufuli nominated for ‘Forbes Africa Person of The Year 2016
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charges reported in the Financial Times defending his government’s policies aimed at ensuring Tanzania’s benefits from the country’s resources and underscoring how accommodating the government has been in facilitating Dangote’s project in the country.
Investors at the one-day FT Africa Summit which hosted the live interview with Africa’s most prominent industrialist seemed to agree that Dangote had not “accused” the Tanzanian president, but had only warned that policies need to be clearly defined and investors need to be reassured that their investments are safe. “There was nothing at all in Mr. Dangote’s comments directed to President Magufuli,” one attendee remarked.
Community members in Mtwara, Tanzania debate the construction of the natural gas pipeline from Mtwara to Dar es Salaam Photo The Citizen TZ
Oscar Kambona with President Nyerere and President Kennedy in 1963
Nyerere campaigning for Tanganyikan independence in March 1961
Tanzania President Julius Kambarange Nyerere 29 October 1964 – 5 November 1985
US President Jimmy Carter, Julius Nyerere, and First Lady Rosalynn Carter, 1977
Front Line States, Tanzania’s Julius Nyerere (left), Mozambique’s Samora Moises Machel, Botswana’s Quett Masire, Angola’s Eduardo dos Santos and Zambia’s Kenneth Kaunda
Zambia’s first president, Kenneth Kaunda, receives Maria Nyerere, widow of Tanzania’s first president, the late Julius Nyerere
