Africa’s richest businessman, Aliko Dangote, has pledged to invest US$2 billion in The Gambia in what the government describes as one of the country’s biggest private sector investment commitments.

The announcement followed a meeting between President Adama Barrow and the President and Chief Executive of the Dangote Group at the State House in Banjul on the sidelines of the African Caucus 2026 meetings. Dangote was accompanied by First Bank Group Chief Executive Officer Olusegun Alebiosu.

The proposed investment centres on two flagship projects—a 250-megawatt solar power plant and a modern fuel tank farm aimed at strengthening the country’s fuel storage and supply security.

According to the Presidency, the solar power project will significantly boost electricity generation, expand access to reliable and affordable power, and accelerate The Gambia’s transition to renewable energy.

The fuel storage facility is expected to enhance the country’s strategic petroleum reserves, helping to guard against supply disruptions while improving fuel security and price stability.

President Barrow welcomed the investment, describing it as a strong endorsement of The Gambia’s economic reforms and investment climate.

He assured the Dangote Group that the government would work closely with its technical teams to fast-track implementation.

Dangote praised President Barrow’s leadership and reaffirmed his company’s confidence in The Gambia as a destination for investment, pledging to deliver projects that meet international standards.

Both sides agreed to proceed with feasibility studies, technical assessments and the signing of the necessary agreements before establishing joint implementation structures to oversee the projects.

The government said the partnership represents a major boost to its national development agenda and reflects increasing confidence by leading African investors in The Gambia’s economy.

By Adama Makasuba