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Who Has The Highest Net Worth In Africa

Who Has The Highest Net Worth In Africa

-Who Has The Highest Net Worth In Africa

According to most Africans, Nigerians are the most popular business tycoons. Aliko Dangote is known as Africa’s richest man with the highest net worth of approximately $12.1 billion.

From the projections made by Forbes, he has topped the chart for ten consecutive times as the wealthiest man in Africa.

The mogul is widely known for his remarkable success in the global market through his multinational industrial company, Dangote Group, and investments in other lucrative projects worldwide. Aliko Dangote has a fascinating history behind his wealth today. It has been of great inspiration to many individuals striving to the top in the world of business.

Recounting his early life, he revealed that he was business-minded even when Dangote was very young and in primary school because he used to sell candies at the time.

Despite his family’s wealthy background, he didn’t slack but manoeuvred his way through business, making it to the top of his hustle and ranked among the top 100 richest people in the world by Forbes. Bagging all the enviable academic degrees, he paid much attention to buying and selling agricultural goods in the communes of Nigeria in his early 20s.

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Gradually, his business started flourishing, extending his business operations from outside Nigeria and settling in the capital, Lagos. He ventured into food processing factories like rice, flour, pasta, salt, and sugar and his well-known Dangote cement factory in African countries, including Ghana, Benin, Togo, and Zambia aside from Nigeria.

He began importing rice and sugar in Brazil and Thailand. Today, his sugar factory is a major supplier to most brewing and confectionary companies in Africa and the world. His company also has flourished in oil and gas, transportation and freight, banking, real estate, textiles, cash crops such as cocoa, cashew nuts, sesame seeds, ginger, among several others internationally.

According to Forbes, the magnate and philanthropist albeit has invested in multiple businesses under his conglomerate, but his significant wealth is contingent on his Dangote cement and the sugar factory. Statistically, the cement factory produces more than 45 million metric tonnes of cement annually from 10 African countries. The largest in Africa and third worldwide, its sugar processing factory makes 800 thousand tonnes of sugar every year.

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He also has a considerable share in telecommunications networks in Nigeria. He contributes mainly to the construction industry of Nigeria by employing constructors to build 14,000 kilometres of fibre optic cables in Nigeria. His company is currently an employer of over eleven thousand employees in Africa.

He has also led several benevolent and philanthropist projects in Nigeria and other parts of the world. He has raised millions of United States dollars into projects like the National Mosque, Presidential Library, Health especially Ebola and Covid 19 pandemic and Sports.

He has gained international recognition on several corporate programs and initiatives. He is a board member of Corporate Council on Africa, United Nations, World Cocoa Forum’s International Business Council, 2016 US -Africa Business Centre co-chair, and a lot more.

He has also earned a lot of honours which include, the Grand Commander of the Order of the Niger (GCON) under ex-president Goodluck Jonathan’s Administration, Forbes 2014 Africa person of the year and most powerful man in Africa from 2013 to 2018, respectively, listed among “50 most influential people in the world” by Bloomberg Markets, just to mention a few.

Aliko Dangote is divorced, but he is a father to three biological daughters known as Maria Mohammed, Halima, and Fatima and his adopted son, Abdul Rahman Fasasi.


Source; Nigeria News/Africa News/Aliko Dangote

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