Aliko Dangote

Aliko Dangote
MFR, GCON
Dangote at the World Economic Forum, 2011
Born Aliko Dangote
(1957-04-10) 10 April 1957
Kano, Kano State, Nigeria
Residence Lagos, Nigeria
Nationality Nigerian
Citizenship Nigerian
Education Capital High School, Kano
Alma mater Al-Azhar University, Cairo
Occupation Chairman & CEO, Dangote Group
Years active 1977—present
Known for Richest person on the African continent (2018)
Net worth US$14.1 billion (March 2018)[1]
Spouse(s) married
Children 15[2]
Parent(s)
  • Mohammed Dangote (father)
  • Mariya Sanusi Dantata (mother)

Aliko Dangote GCON (born 10 April 1957) is a Nigerian business magnate, investor, and owner of the Dangote Group, which has interests in commodities in Nigeria and other African countries.[3] As of March 2018, he had an estimated net worth of US$14.1 billion.[4]

Dangote is ranked by Forbes magazine as the 100th-richest person in the world and the richest in Africa,[5] and peaked on the list as the 23rd-richest person in the world in 2014.[6] He surpassed Saudi-Ethiopian billionaire Mohammed Hussein Al Amoudi in 2013 by over $2.6 billion to become the world's richest person of African descent.[7]

Early life

Aliko Dangote, an ethnic Hausa Muslim[8] from Kano, Kano State, was born on the 10th of April 1957 into a wealthy Muslim family.[9][10] He is the great-grandson of Alhaji Alhassan Dantata, the richest African at the time of his death in 1955. Dangote has said:

"I can remember when I was in primary school, I would go and buy cartons of sweets [candy] and I would start selling them just to make money. I was so interested in business, even at that time."[11]

Dangote was educated at the Sheikh Ali Kumasi Madrasa, followed by Capital High School, Kano.[2] He has a bachelor's degree in business studies and administration from Al-Azhar University, Cairo.[1][2]

Business career

Nigeria

The Dangote Group was established as a small trading firm in 1977, the same year Dangote relocated to Lagos to expand the company.[10] Today, it is a multi-trillion-naira conglomerate with many of its operations in Benin, Ghana, Nigeria, and Togo. Dangote has expanded to cover food processing, cement manufacturing, and freight. The Dangote Group also dominates the sugar market in Nigeria and is a major supplier to the country's soft drink companies, breweries, and confectioners. The Dangote Group has moved from being a trading company to be the largest industrial group in Nigeria including Dangote Sugar Refinery, Dangote Cement, and Dangote Flour.

In July 2012, Dangote approached the Nigerian Ports Authorities to lease an abandoned piece of land at the Apapa Port, which was approved.[12] He later built facilities for his flour company there. In the 1990s, he approached the Central Bank of Nigeria with the idea that it would be cheaper for the bank to allow his transport company to manage their fleet of staff buses, a proposal that was also approved.

In Nigeria today, Dangote Group with its dominance in the sugar market and refinery business is the main supplier (70 percent of the market) to the country's soft drinks companies, breweries and confectioners. It is the largest refinery in Africa and the third largest in the world, producing 800,000 tonnes of sugar annually. Dangote Group owns salt factories and flour mills and is a major importer of rice, fish, pasta, cement, and fertiliser. The company exports cotton, cashew nuts, cocoa, sesame seeds, and ginger to several countries. It also has major investments in real estate, banking, transport, textiles, oil, and gas. The company employs more than 11,000 people and is the largest industrial conglomerate in West Africa.

Dangote has diversified into telecommunications and has started building 14,000 kilometres of fibre optic cables to supply the whole of Nigeria. As a result, Dangote was honoured in January 2009 as the leading provider of employment in the Nigerian construction industry.

He has said, "Let me tell you this and I want to really emphasise it ... nothing is going to help Nigeria like Nigerians bringing back their money. If you give me $5 billion today, I will invest everything here in Nigeria. Let us put our heads together and work."[13]

Other activities

Dangote played a prominent role in the funding of Olusegun Obasanjo's re-election bid in 2003, to which he gave over N200 million (US$1M). He contributed N50 million (US$0.25M) to the National Mosque under the aegis of "Friends of Obasanjo and Atiku". He contributed N200 million to the Presidential Library. These highly controversial gifts to members of the ruling PDP party have generated significant concerns despite highly publicized anti-corruption drives during Obasanjo's second term.

In May 2010, Britain's Daily Mirror reported that Dangote was interested in buying a 16 per cent stake in Premiership side Arsenal belonging to Lady Nina Bracewell-Smith.[14] Dangote later denied these rumours.[15]

In November 2011, Dangote was awarded Nigeria's second-highest honour, the Grand Commander of the Order of the Niger (GCON) by the former President, Goodluck Jonathan.[16]

Dangote reportedly added $24.2 billion to his personal wealth in 2013, according to the Bloomberg Index, making him the thirtieth-richest person in the world at the time, in addition to being the richest person in Africa.[17]

In 2014, the Nigerian government said Dangote had donated 150 million naira (US$750,000) to halt the spread of ebola.[18][19]

In May 2015, Dangote expressed interest in purchasing the English football team Arsenal. He stated that if he was able to make the purchase he would fire the club's long-standing manager Arsène Wenger.[20]

Personal life

Dangote is married, with three children, and lives in Lagos, Nigeria.[1]

He has been married four times, and his first three marriages ended in divorce.[2] He has a total of 3 children from these marriages.[2]

Awards

Dangote was named as the Forbes Africa Person of the Year 2014. The other nominees were South Africa's Public Protector, Thuli Madonsela, Nigerian author, Chimamanda Ngozi Adichie, Director-General of the Securities and Exchange Commission, (SEC), Arunma Oteh, and President of the African Development Bank, Donald Kaberuka.[21]

In 2013, Dangote and six other prominent Nigerians were conferred honorary citizenship of Arkansas state by Governor Mike Beebe who also proclaimed 30 May of every year as Nigeria Day in the U.S. The other prominent Nigerians are: Chief Ms. Temditope Ajayi, the President and CEO of Nigerian-American Agricultural Empowerment Programme; Governor Rabiu Kwankwaso of Kano State; Dr. Akinwumi Adesina, Minister of Agriculture and Rural Development; Prof. Tajudeen Gbadamosi, a former lecturer of University of Lagos; Prof. Ade Adefuye, the Nigeria's Ambassador to the United States; Prof. Julius Okojie, the Executive Secretary of the National Universities Commission.[22][23]

In 2015, Dangote won the Clinton Global Citizen Award.[24]

References

  1. 1 2 3 "The World's Billionaires: Aliko Dangote". Forbes.com. Retrieved 9 March 2018.
  2. 1 2 3 4 5 "Aliko Dangote: Things You Never Knew About Him, His Wives and Children - Naija News". naijanews.com. 17 March 2017. Archived from the original on 8 October 2017. Retrieved 8 October 2017.
  3. ↑ "Dangote Cement Now Nigeria's Biggest Firm, Invests In S/Africa". P.M. NEWS Nigeria. Retrieved 20 June 2015.
  4. ↑ Net worth as of March 2018 per Forbes.
  5. ↑ "The World's Billionaires". Forbes. Retrieved 9 March 2018.
  6. ↑ "Aliko Dangote Profile". Forbes. Retrieved 31 July 2015.
  7. ↑ Nsehe, Mfonobong (5 March 2013). "The Black Billionaires 2013". Forbes. Retrieved 3 May 2015.
  8. ↑ Nweke, Ifeanyi. "What you should know about Dangote". Retrieved 14 July 2015.
  9. ↑ Ilan Bijaoui (2017). Multinational Interest & Development in Africa: Establishing a People’s Economy. Springer. p. 55. ISBN 978-33-1948-914-8.
  10. 1 2 Gabriel Edigheji. The Entrepreneur Magazine. Lulu.com. ISBN 978-1-105-9093-20.
  11. ↑ Adekunle (22 March 2014). "Aliko Dangote - a Lesson for African Entrepreneurs". Vanguard. Retrieved 2014-07-11.
  12. ↑ "Dangote Sugar Refinery Plc (DSR)", Institute of Developing Economies-Japan External Trade Organization. Accessed 26 November 2015.
  13. ↑ "Who Is A Wealthy Man? The Aliko Dangote Story". Nigerian Observer. 23 December 2014. Retrieved 2 April 2015.
  14. ↑ "Football: News, opinion, previews, results & live scores". Mirror Online. Retrieved 20 June 2015.
  15. ↑ "Nigerian plays down Arsenal link". BBC News. 24 May 2010.
  16. ↑ "BN Bytes: Genevieve Nnaji, Stephanie Okereke, Amaka Igwe, Aliko Dangote & Jim Ovia receive National Honours – Photos from the Ceremony". BellaNaija. 15 November 2011. Retrieved 20 June 2015.
  17. ↑ "Aliko Dangote Racks in $9.2 bn in 2013". BellaNaija. 3 January 2014.
  18. ↑ "Nigeria reports one more Ebola case, 11 in total". reuters.com. Retrieved 20 June 2015.
  19. ↑ "Africa's richest man gives N150m to fight Ebola - Corporate News". businessdailyafrica.com. Retrieved 20 June 2015.
  20. ↑ Blaq, Ola (18 May 2015). "Rumors: Aliko Dangote Would Sack Wenger If He Successfully Buys Arsenal". 360 NOBS. Retrieved 28 May 2015. According to Metro, a source close to the Cement and Food mogul was talking to journalists about how Dangote was not impressed with Wenger's running of the club and would be looking to relieve him of his duties if he did not adjust his philosophies to help the club attain more success.
  21. ↑ Reed, Megan. "Nigerian Businessman Aliko Dangote Named Forbes Africa Person of the Year 2014". atlantablackstar.com. Retrieved 28 December 2014.
  22. ↑ "Dangote, six others bag honorary citizenship of Arkansas". The Eagle Online. Retrieved 7 June 2015.
  23. ↑ "Seven Nigerians Conferred Honorary Citizenship of Arkansas State". Newswatch Times. Archived from the original on 4 March 2016. Retrieved 6 June 2015.
  24. ↑ Communities, Nigeria Business. "Aliko Dangote wins 2015 Clinton Global Citizen Award, award received by daughter, Halima". www.nigeriabusinesscommunities.com. Retrieved 2018-01-15.

Further reading

  • Barau, A. S. (2007), The Great Attractions of Kano. Research and Documentation Directorate, Government House, Kano
  • Fayemiwo, M. A., & M. M. Neal (2013), Aliko Mohammad Dangote The Biography of the Richest Black Person in the World, Strategic Book Publishing ISBN 9781618978851
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