Why I want to buy Arsenal - Dangote

Africa’s richest man, Aliko Dangote has revealed his intention to be the first African to buy an English Club. He made this assertion during an interview with Bloomberg. Glitter News Online compiled the excerpts of his interview. Enjoy:

Bloomberg: Where outside Africa will that investment be concentrated?

Aliko Dangote: Mostly in Europe and the U.S., but we can also invest in Asia, in Mexico.

Bloomberg: How much do you intend to invest outside Africa?

Aliko Dangote: Beginning in 2020, 60 percent of our future investments will be outside Africa, so we can have a balance.

Bloomberg: What businesses other than renewables?

Aliko Dangote: We are looking at petrochemicals but can also invest in other companies. We must believe in the management and what they are doing. But the priorities are here for now. In 2020 the priorities will change, and we’ll diversify because we will have the cash to divest.

Bloomberg: By 2020, how much money can you put in the U.S. or Europe?

Aliko Dangote: Let’s say that by 2025, I’m looking at between $20 billion and $50 billion. Mind you, we don’t do small things.

Bloomberg: How do you think it will go over with the people in those countries?

Aliko Dangote: The market is already big. It’s a big fight. Big enough for everyone. We will not go alone. We will have partners, too. Having partners there makes a lot of sense.

His main investment has been in cement production. He has diversified into agriculture and has entered oil and petrochemical business.

In the past he responded to issues about why he won’t rather invest in Nigerian clubs rather than an English club, “The issue is that if I buy all the Nigerian clubs, the Nigerian flags will continue to remain here.

‘‘But buying Arsenal will take the Nigerian flag worldwide. Just like whenever Abramovich is mentioned, the name of his country, Russia comes up. Everyone knows he’s Russian,” Dangote had said.