Despite the wealth of natural resources in Africa, many people perceive the continent as a place of poverty, conflict, and hunger. However, the reality is that wealth and living standards vary greatly from country to country. Nigeria has become a major player in the global business world and is leading the way, thanks largely to Aliko Dangote. As of December 2020, Dangote, who is the richest person in Africa and the wealthiest black person on the planet, has a net worth of $10.8 billion.
Dangote is the CEO of the Dangote Group and owns nearly 88% of Dangote Cement, the largest cement producer in Africa. The company produces 44 million metric tons of cement per year and plans to increase its output by 33% by 2020. Dangote also holds stakes in publicly-traded salt, sugar, and flour manufacturing companies. With his sharp business acumen and plan to make Nigeria an international superpower, Dangote is a potential investment opportunity for anyone looking for a good return.
Dangote’s entrepreneurial spirit was evident from a young age. Born in Kano, Nigeria in 1957, he grew up in a wealthy family and started selling candy for a profit while still in elementary school. After studying business at Al-Azhar University in Egypt, he launched his first company, the Dangote Group, which initially focused on cement trading. He spent several decades building his business in South America, primarily in Brazil, before returning to Nigeria in the late 1990s.
Upon his return, Dangote supported the People’s Democratic Party, which won the election, and used his influence to secure an agreement to build the world’s largest cement factory in Nigeria. The company opened in 2008 and was an instant success, and Dangote now employs 25,000 people in Nigeria and operates in 14 other African countries.
In addition to cement, Dangote has been expanding his business empire to include food processing, manufacturing, and freight operations, such as the Dangote Sugar Refinery, Dangote Flour, and a salt mine. He is a major contributor to Nigeria’s exports of cocoa, sesame seeds, ginger, cotton, and cashews and is involved in real estate, textiles, transportation, and telecommunications. He has been honored with multiple awards from Nigerian business associations and the government, including the Grand Commander of the Order of the Niger presented by the President of Nigeria.
Aliko Dangote is a powerful and influential figure, and when Bill Gates travels to Africa, he stays with Dangote. The two are close friends and are working on projects to combat poverty and disease in Africa. Dangote’s latest ambitious plan is to make Nigeria an oil powerhouse. With his track record of success, there’s no doubt that he will continue to shape the future of Africa and change the world’s perception of the continent.