Intra-Africa trade and travel leaves a lot to be desired — if you’re African, that is — according to Africa’s richest man, Aliko Dangote.
But if you’re American, you have more freedom to move around Africa than Dangote does, he told an audience this week in Davos at the World Economic Forum.
Nigerian-born Dangote made his fortune selling concrete. He participated in Davos on a panel discussion, “The African Renaissance,” led by Agility Africa, a provider of integrated logistics.
Panel topics included how and where businesses should invest and build in Africa, what’s behind Africa’s growing momentum and what will sustain it, according to VenturesAfrica.
Panelists included Dangote (CEO of Dangote Group), Bob Diamond (CEO of Atlas Merchant Capital), Agility CEO Geoffrey White, Adewale Tinubu (CEO of Oando) and moderator Michael Elliot (CEO of Bono’s ONE Campaign). You can watch them on this Agility video.
In the video Dangote said intra-Africa trade is less than a third of what it should be compared to countries in Europe.
“I need 38 visas to move between 54 countries (in Africa),” Dangote said. “America has more access. If David Rubenstein (co-founder of investment management group Carlyle) decides to move around Africa he has more access — he can move faster than myself because he doesn’t need visas.”
Africa got about $85 billion in inflows in 2014, and investors are captivated, according to VenturesAfrica. All eyes are on the “The African Renaissance.”