Africa’s richest man Aliko Dangote has criticised Tanzanian President John Magufuli for scaring away foreign investors, reports the Financial Times.
The Nigerian billionaire highlighted a plan to allow the government to take 16% of an investor’s assets for free, says the FT.
The newspaper goes on to explain that Mr Dangote is one of the biggest investors in Tanzania and has built a $650m (£494m) cement plant in Tanzania.
The mining laws have already changed this year and the president has accused international miners of under-reporting how much they were exporting from the country.
Acacia Mining and Petra diamonds are among the companies that have reduced their operations since the changes.