Africa’s wealthiest individual, Aliko Dangote, has refuted claims of monopoly, asserting that his company has never impeded others from entering his industry.
In a recent press conference, Dangote recounted his entry into the cement manufacturing sector, noting that at the time, Lafarge was the sole competitor in the market.
Dangote mentioned that when he began production, accusations of monopoly were levied against him, though he argues that true monopoly occurs only when competition is obstructed through legal or other means.
He pointed out that Lafarge was never labeled a monopoly, despite his initial plant’s capacity of 45 million tonnes, compared to less than two million tonnes of local production.
Dangote expressed his frustration over the persistent monopoly claims, emphasizing that a monopoly would involve blocking competitors through legal channels. He stressed that the market was competitive, with others receiving similar opportunities, and some possibly even more advantageous ones.
By Ebubedike Ochu
