Norwegian Sovereign Wealth Fund eyes partnership with Dangote Group on African investments

The President and Chief Executive of Dangote Group, Aliko Dangote has held a high-level meeting with Nicolai Tangen, Chief Executive Officer of Norges Bank Investment Management, the world’s largest sovereign wealth fund manager with assets estimated at about $1.9 trillion.

During the meeting, the Norwegian investment institution expressed strong interest in partnering with to expand investments across Africa, particularly in strategic sectors such as power, energy, renewable energy, agriculture, fertiliser and cement.

Also present at the meeting were Svein Tore, Chief Executive Officer of Yara International, one of the world’s leading fertiliser and agricultural firms and Terje Pilskog, Chief Executive Officer of Scatec, a global renewable energy company.

The engagement underscores growing global investor confidence in Africa’s industrial and infrastructure potential, as well as the increasing role of indigenous conglomerates such as Dangote Group in driving large-scale economic transformation across the continent.

For Dangote Group, the proposed partnership represents a significant opportunity to deepen investments in sectors critical to Africa’s development, particularly energy transition, food security and industrial expansion.

The Norwegian sovereign wealth fund, widely regarded as a benchmark for global institutional investment, has in recent years increased its interest in emerging markets, with Africa increasingly viewed as a frontier for long-term value creation.