What Do You Know of Africa's Richest Man, Aliko Dangote?
ALIKO DANGOTE
Aliko Dangote is a Nigerian businessman and philanthropist who was born on April 10, 1957, in Kano, Nigeria.
He is the founder and CEO of the Dangote Group, which is one of the largest conglomerates in Africa with interests in commodities like cement, sugar, and flour.
Here is a brief profile of his life and career:
Early Life and Education
Dangote was born into a wealthy Muslim family in Kano. His grandfather, Sanusi Dantata, was one of Nigeria's wealthiest men during his time.
Dangote received his early education in Kano and later attended Al-Azhar University in Cairo, Egypt, where he studied business.
He was raised a Muslim and was from well-off family.
He was raised a Muslim and was from well-off family.
Sanusi Dantata, the grandfather of Dangote, was formerly listed as one of Kano's richest residents. Selling staples like rice and oats brought him great wealth.
With the passing of his father in 1965, Dantata took over the role of guardian for Dangote.
Having spent much of his childhood with his grandfather, Dangote quickly became interested in the world of business, once saying, “I can remember when I was in primary school, I would go and buy cartons of sweets [sugar boxes] and I would start selling them just to make money. I was so interested in business, even at that time.”
Dangote graduated from Al-Azhar University in Egypt at the age of 21, which is regarded as one of Islam's most esteemed institutions. There, the aspiring businessman expanded his business education.
Having spent much of his childhood with his grandfather, Dangote quickly became interested in the world of business, once saying, “I can remember when I was in primary school, I would go and buy cartons of sweets [sugar boxes] and I would start selling them just to make money. I was so interested in business, even at that time.”
Dangote graduated from Al-Azhar University in Egypt at the age of 21, which is regarded as one of Islam's most esteemed institutions. There, the aspiring businessman expanded his business education.
Career
After returning from Egypt, Dangote started his business career by trading in commodities like cement and sugar.
He established the Dangote Group in 1978 and gradually expanded his business into several African countries.
Today, the Dangote Group is one of the largest conglomerates in Africa with a presence in 10 African countries and interests in commodities like cement, sugar, flour, and salt.
Dangote is known for his entrepreneurial skills and his ability to identify opportunities in emerging markets.
He has invested heavily in the development of Nigeria's infrastructure, particularly in the areas of power and transportation.
Dangote has consistently invested the majority of his income back into his companies, which is one of the reasons the business has expanded so much since it was founded.
Dangote has consistently invested the majority of his income back into his companies, which is one of the reasons the business has expanded so much since it was founded.
During an interview with Al Jazeera News, Aliko Dangote explained, ‘‘We [Dangote Group] are not doing like other Africans who keep most of their money in the bank. We do not keep money in the bank. We fully invest whatever we have and we keep on investing (sic).’’
Dangote developed a plant to create the pasta, sugar, salt, and wheat he had been importing and selling for the preceding 20 years after realizing that serving as a middleman was a very expensive undertaking.
Dangote received a state-owned cement company at roughly the same time.
Dangote developed a plant to create the pasta, sugar, salt, and wheat he had been importing and selling for the preceding 20 years after realizing that serving as a middleman was a very expensive undertaking.
Dangote received a state-owned cement company at roughly the same time.
By building a multimillion-dollar production facility in 2005, Dangote considerably increased the company's activities.
In addition to a $479 million loan from the International Finance Corporation, a subsidiary of The World Bank, Dangote contributed $319 million of his own funds to the project's financing.
Philanthropy
Dangote is also known for his philanthropic activities. He established the Aliko Dangote Foundation in 1993 to focus on health, education, and social development.
The foundation has donated millions of dollars to various causes in Nigeria and other African countries.
In 2020, the foundation donated $100 million to support the fight against COVID-19 in Nigeria and other African countries.
Personal Life
Dangote is known for his low-key lifestyle and is often described as a workaholic. He is divorced and has three children.
Net Worth
As of March 2023, Dangote's net worth was estimated at $13.8 billion, according to Forbes' real-time billionaire tracker. He is the richest person in Africa and one of the wealthiest people in the world.
