Aliko Dangote has disclosed plans to invest more than $10bn in the power sector, describing reliable electricity as critical to Africa’s economic growth.

The business mogul made the disclosure during an interview with Al Jazeera on Monday, saying he expects significant transformation across the continent over the next three to four years.

“We want to invest over 10 billion dollars alone in power,” Dangote said.

“Actually, there is one or two businesses that we might cancel, like steel, and we will put in the money,” Dangote noted

He did not provide details on the specific power projects, countries involved or timeline for deploying the funds.

Dangote said Africa should not allow more than 600 million people to remain without access to electricity.

“It is something that we Africans should not really allow, over 600 million of our people to remain in darkness,” he said.

He did not provide details on the specific power projects, countries involved or timeline for deploying the funds.

“So power is key; we will never ever create growth without power. So that’s why they say power is growth. When I say power, I mean electricity is growth,” he said.

Dangote said Africa should not allow more than 600 million people to remain without access to electricity.

He said the group’s broader strategy also focused on wealth creation, expanding access to business opportunities and strengthening corporate governance.

“I’m telling you, in the next 3-4 years, there will be a major transformation in Africa, and that’s why we’re looking at power, for example,” he said.

Dangote did not disclose details on how the more than $10bn investment would be deployed.