Nigeria, Sept. 22 -- Aliko Dangote has revealed plans to invest more than $10 billion in Africa's power sector, with the billionaire suggesting that the group could redirect funds from businesses it no longer intends to pursue.

Dangote made the disclosure during an interview with Al Jazeera, where he identified electricity as a major requirement for Africa's economic growth.

The News Chronicle reports that Dangote Group is considering cancelling one or two planned businesses, including its steel project, to free up funds for power investments.

Dangote said the group could invest over $10 billion in power but did not disclose the specific projects, countries or timeline for the proposed investment.

He also pointed to Africa's electric...