Africa’s richest man, Aliko Dangote, is preparing one of the continent’s biggest corporate expansion drives yet, unveiling plans to grow the Dangote Group into a $100 billion industrial powerhouse by 2030 through massive investments in refining, cement and fertiliser, and by tapping global investors for what could become Africa’s largest-ever corporate fundraising programme. Dangote Group wants to increase annual revenue from $20 billion to $100 billion by 2030, Fatima Dangote told Bloomberg. The company plans to raise $40 billion through a refinery IPO, equity sales and a London listing. Expansion across refining, cement and fertiliser is expected to transform the group into one of the world’s largest industrial businesses. The strategy also marks a leadership transition, with Aliko Dangote’s daughters taking on bigger executive roles.

Aliko Dangote is close to completing a $2.5 billion private share placement for his refinery, valuing it at about $40 billion. The private offering attracted around $4 billion in investor demand, with support mainly from regional institutional investors. An IPO could follow as early as August, aiming to raise an additional $1.5 to $2 billion through a public listing on the Nigerian Exchange. The refinery, which began production in 2024, plans to boost its capacity from 650,000 to 1.4 million barrels per day by 2028

The US🇺🇸 is aiming to secure critical minerals and reduce reliance on China🇨🇳 by constructing a lithium stockpile and purchasing 16,000 tonnes of battery-grade lithium carbonate over five years. The US🇺🇸 Department of Defense, through the Defense Logistics Agency, has launched a $300 million contract for lithium procurement, with bids due by July 17. Zimbabwe🇿🇼, Africa's largest lithium producer, is expanding output and may become a key supplier for the U.S.🇺🇸 as global competition for battery minerals intensifies. Zimbabwe's🇿🇼 lithium production surged by 30% in early 2025 compared to the previous year, with projections of further growth and moves toward more local processing.

Ghana🇬🇭 is set to open its 5G market to competition, moving away from the previous exclusive licence model. MTN Group and Telecel Group are preparing to bid for 5G licences after the government revoked Next Gen Infraco's exclusive rights. The exclusive deal with Next Gen Infraco failed to meet rollout targets, with only 49 operational sites by March versus a 1,200-site goal by 2027. The government aims to accelerate 5G deployment, targeting 70% population coverage by March 2027 to catch up with regional leaders.

Mauritania🇲🇷 and Senegal🇸🇳 have become new LNG exporters after launching the $4.6 billion Greater Tortue Ahmeyim (GTA) project. Africa's LNG export club is expanding, intensifying competition with established exporters like Nigeria🇳🇬 and Algeria🇩🇿. Global LNG trade hit a record high in 2025, with Africa increasingly supplying the growing demand. Nigeria🇳🇬 remains Africa's largest LNG producer, but new investments are boosting capacity across the continent.v

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ExxonMobil is returning to drilling in Nigeria🇳🇬 for the first time since 2016 with a $1 billion deepwater investment. The Usan Infill Project is expected to add 40,000 barrels of oil per day within 18 months. The investment signals renewed confidence in Nigeria’s offshore sector following recent regulatory reforms. It forms part of Abuja’s broader strategy to revive crude production and attract new upstream capital.

Aliko Dangote plans to build a 700,000-bpd refinery in Kenya🇰🇪, aiming to create East Africa's largest and Africa's second-largest refinery. The project is expected to cost up to $17 billion and will be financed through cash flow, bonds, and a planned IPO. The refinery will be located on Lamu Island, with site selection, soil testing, and design work already underway. This marks Dangote Industries' biggest refining investment outside Nigeria🇳🇬, reinforcing Kenya🇰🇪 as a strategic energy hub for East Africa.

Niger State has allocated 500 hectares of land to Abuja Steel Mills Limited for a massive solar-powered steel facility and new industrial park. The project will combine large-scale steel manufacturing with a dedicated solar plant, aiming to reduce reliance on Nigeria's🇳🇬 unreliable electricity grid. This initiative aligns with the state's broader plan to become a key industrial corridor, supported by additional land, gas pipeline access, and hydro assets. Officials highlight the role of steel and renewable energy investments in achieving Nigeria's🇳🇬 goal of building a $1 trillion economy by 2030.