- Aliko Dangote committed $2 billion to build a 250MW solar plant and fuel terminal in The Gambia.
- The projects will boost the country’s energy security, pending final agreements.
Aliko Dangote, Founder and CEO of the Dangote Group, has pledged $2 billion for two major energy projects in The Gambia. The investment ranks among the country’s largest proposed private energy deals.
The package includes a 250-megawatt solar power plant and a modern fuel storage terminal. The projects aim to strengthen electricity supply and expand strategic petroleum reserves.
Dangote announced the commitment during a meeting with Gambian President Adama Barrow at the State House in Banjul on Tuesday, July 7. The meeting took place alongside the African Caucus 2026 meetings.
President Barrow welcomed the proposal and described it as a strong vote of confidence in The Gambia’s reform agenda. He also instructed government ministries to work with Dangote’s technical team on the next phase.
The proposed solar plant could reshape the country’s electricity sector. The Gambia has between 90MW and 99MW of installed generation capacity. However, ageing infrastructure limits the amount of electricity available for use.
By early 2025, available generation had fallen below 40MW. During the first quarter of the year, the country imported 57 per cent of its electricity from Senegal and Guinea.
The planned solar facility would produce more electricity than any other project currently under development in the country. Developers do not expect the 150MW Soma Solar Project to start operating until 2030.
Meanwhile, the fuel storage terminal could improve energy security. It would allow The Gambia to build larger fuel reserves and respond more effectively to supply disruptions. The project also supports changing fuel trade patterns across West Africa following the launch of the Dangote Refinery.
Dangote attended the meeting with First Bank Group Chief Executive Officer Olusegun Alebiosu. First Bank Group is backing the investment and will support its financing.
Despite the announcement, both projects remain at the proposal stage. The two sides must sign binding agreements and complete technical and feasibility studies. They must also establish a joint implementation framework before construction begins.
So far, neither party has announced a construction schedule. Officials have also not explained how they will allocate the $2 billion between the two projects.
The African Caucus meetings bring together African finance ministers and the World Bank each year. This year’s event has also given The Gambia an opportunity to attract new investors and promote major infrastructure partnerships.