See what Dangote said about allegations of monopoly against his company

Africa’s wealthiest individual, Aliko Dangote, has refuted claims of monopolistic practices, asserting that his company has never hindered others from entering his industry.

Dangote’s comments followed a surprising decision by the board to forgo the steel investment in order to prevent any allegations of monopolistic conduct.

Aliko Dangote finally responds to monopoly accusations against company
Source: UGC

During a recent press briefing, the renowned businessman reflected on his entry into cement manufacturing, noting that Lafarge was the sole competitor in the market at the time.

Dangote pointed out that accusations of monopoly were directed at him when he began production, clarifying that true monopolistic behaviour involves obstructing competition through legal or other tactics.

He said:

“Nobody ever called Lafarge monopoly. But we, Dangote, the first plant we set up was 45 million tonnes. That was the first one; less than two million of local production.“But when we got in there, people now started saying monopoly. And this is really very disheartening when people keep talking about this monopoly."

He rejected the monopoly allegations, emphasizing that his company competes fairly and does not obstruct others from entering the market.

Source: Legit.ng