Africa's richest man to invest up to US$50b in US and EU

London

AFRICA'S richest man, Aliko Dangote, plans to invest US$20 billion to US$50 billion in the US and Europe by 2025, in industries including renewable energy and petrochemicals.

The 60-year-old Nigerian cement tycoon aims to move into these territories for the first time in 2020 after completing almost US$5 billion of agricultural projects and an US$11 billion oil refine ry in his home country, he said in an interview with Bloomberg Markets Magazine this month.

"Beginning in 2020, 60 per cent of our future investments will be outside Africa, so we can have a balance," said Mr Dangote, who is worth US$11.6 billion, according t…