Aliko Dangote – Africa’s Richest Man
When we celebrate success, too often our attention is pulled towards the flashy reality show known as Los Angeles and the Silicon Valley full of nerds and eccentrics. On the other side of the planet, the occupation of the billionaires change. Europe’s richest man, Bernard Arnault (estimated worth: 160.6 billion USD) wheels and deals in luxury fashion and accessories while Africa’s richest person, Aliko Dangote, is a man of industry with his diversified manufacturing conglomerate, Dangote Industries.
The conglomerate has fingers in all of the pies, from food manufacturing, fertilizer, and oil, to name just a few, and in the growing economy of Africa, these are throbbing arteries for the continent. When the dirt stops turning the money stops moving, and with an 86% stake in Dangote Cement which makes 45.6 million metric tons of cement every year and operates in 10 African countries makes sure he’s on the ground floor of all construction gigs as well.
He hasn’t been immune to Covid’s cooling effect on the world’s economy though. Share drops in his companies wiped out almost $1.20 billion of his $17.8 billion valuation.
But projects waiting to go will no doubt fuel his future growth. His new fertilizer plant, which has been billed as the largest in the world with a 3 million tonnes per annum capacity will form a vital link toward shoring up Nigeria’s food supply chain, and be less reliant on imported fertilizers. According to Dangote Group tooting it’s own horn, “the coming on stream of the plant will not only boost food sufficiency in Nigeria, but also make Africa self-sufficient in food production and a net exporter of food to the world.”
Best Quotes From Aliko Dangote
Only the truly masocistic can follow Africa’s Richest man’s advice. Prepare for some short sleeps.
“Passion is what drives me forward. Passion is what makes me go to bed at 2am and wake up at 6am.”
“If you don’t have ambition, you shouldn’t be alive”
“Endeavor to work as hard as possible to attain a new aim with each day that comes by. Don’t go to bed until you have achieved something productive”
“Don’t kill the competition. Competition is healthy for businesses. It keeps you the entrepreneur on your toes.”
“To build a successful business, you must start small and dream big.”
Aliko Dangote Timeline
1957
Born in Kano, Northern Nigeria
1965
Adopted by Grandfather Sanusi Dantata
1977
Established the Dangote Group trading firm importing soft commodities.
1994
Started the Aliko Dangote Foundation for charity
1997
started plants to produce locally what he had previously imported.
2013
Tops the list as Africa’s richest man, and thirtieth richest on the planet.
2021
Set to Open Nigeria’s largest industrial project ever, an Oil refinery producing 650,000 barrels a day.