Africa’s richest man, Aliko Dangote, says his business group plans to invest more than 10 billion dollars in the power sector to tackle Africa’s electricity crisis.

Dangote made the disclosure during an interview with Al Jazeera, saying unreliable electricity and inconsistent government policies remain major obstacles to investment across the continent.

He says the group is considering moving funds from some businesses, including steel, into electricity generation and other power projects.

Dangote says more than 600 million Africans still live without electricity and argues that reliable power is essential for industrialisation, job creation and economic growth.

He also says Africa must reduce its dependence on imported goods by processing more of its raw materials locally and expanding local production.

The businessman says his group will continue investing in Africa despite criticism and accusations that its activities create monopolies.

Dangote maintains that the government has not granted his businesses exclusive rights, saying opportunities remain open to other investors willing to participate in Africa’s economy.