Africa’s Richest Billionaire Aliko Dangote Says Corruption Stopped Him from Investing Sh100 Billion in Kenya

Africa’s richest man Aliko Dangote has revealed why he decided to abandon plans to expand his vast business empire to Kenya.

The Nigerian, who spoke to renowned Kenyan media personality Jeff Koinange, said that some individuals - who he declined to name - but who described as “more corrupt than Nigerians" discouraged him from investing in the country.

Sharing his private conversation with the billionaire on his breakfast show on Hot 96fm, Koinange said that his chat with Dangote happened when he attended the tycoon’s daughter’s wedding in Nigeria last month.

“I asked him, ‘Al Hajj when are you coming back to Kenya?’ and he said ‘Jeff, there are people in that place (Kenya) who put greed and personal interest ahead of national interest. I didn’t think Kenya would be more corrupt that Nigeria.'” Koinange narrated on air.

Dangote, who Forbes valued at $13.5 billion (Sh1.5 trillion), was part of the delegation of 50 high-net-worth Nigerian businessmen who accompanied the country’s then-President Goodluck Jonathan to Kenya in 2013.

Afterwards, Dangote revealed plans of putting up a Sh100 billion cement factory in Kenya, but that has not happened to date.

Koinange is a personal friend of Dangote, a relationship that was developed when the award winning journalist worked in Nigeria for Cable News Network (CNN).