Aliko Dangote

Aliko Dangote.jpg
Dangote at the World Economic Forum, 2011
Born
Aliko Dangote

(1957-04-10) 10 April 1957 (age 63)
NationalityNigerian
EducationGovernment College, Birnin Kudu
Alma materAl-Azhar University, Cairo
OccupationIndustrialist
Years active1977–present
Known forFounding and leading the Dangote Group
Net worthUS$8.3 billion (27 July 2020)[1]
Children3 daughters

Aliko Dangote GCON (born 10 April 1957) is a Nigerian billionaire businessman, who is the founder, chairman, CEO of Dangote Group, an industrial conglomerate in Africa.[2]

He has an estimated net worth of US$8.3 billion (July 2020),[3] making him the 162nd wealthiest person in the world and the richest person in Africa.

Early life

Family and personal life

Aliko Dangote, an ethnic Hausa Muslim[4] from Kano, Kano State, was born on 10 April 1957 into a wealthy Muslim family,[5][6][self-published source?]the son of Mohammed Dangote and Mariya Sanusi Dantata, the daughter of Sanusi Dantata. He is the great-grandson of Alhaji Alhassan Dantata, the richest West African at the time of his death in 1955.

Dangote lives in Lagos.[7] He was previously married, and has three daughters, and one adopted son.[8]

Education

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."[9]

Dangote was educated at the Sheikh Ali Kumasi Madrasa, followed by Capital High School, Kano.[10] In 1978, he graduated from the Government College, Birnin Kudu.[11] He received a bachelor's degree in business studies and administration from Al-Azhar University, Cairo.[12][10]

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.[6] Today, it is a multi trillion-naira conglomerate with many of its operations in Benin, Ghana, Nigeria, Zambia 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 Authority to lease an abandoned piece of land at the Apapa Port, which was approved.[13] 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.

He also donated money to the Nigeria sport ministry to renovate the national stadium, Abuja.[14]

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.[15] 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.

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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."[16]

Other activities

Dangote had a prominent role in the funding of Olusegun Obasanjo's re-election bid in 2003, to which he gave over N200 million (US$2 Million). He contributed N50 million (US$500 Thousand) 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.[17]

Dangote reportedly added $9.2 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.[18]

In 2014, the Nigerian government said Dangote had donated 150 million naira (US$750,000) to halt the spread of Ebola.[19][20] In March 2020, he donated 200 million naira (US$500,000) towards the fight against the spread of COVID-19 in Nigeria.[21]

Aliko Dangote, as well as Femi Otedola, promised to give the Super Eagles of Nigeria US$75,000 for every goal scored in the Africans Cup of Nations (AFCON) 2019.[22]

Recognition and philanthropy

Dangote sits on the board of the Corporate Council on Africa, and is a member of the steering committee of the United Nations Secretary-General's Global Education First Initiative,[23][24] the Clinton Global Initiative and the International Business Council of the World Economic Forum. He was named Co-chair of the US-Africa Business Center, in September 2016, by the US Chamber of Commerce.[25][25][26][27][28] In April 2017, he joined the Board of Directors of the Clinton Health Access Initiative.[29] A dedicated philanthropist, Dangote made an initial endowment of $1.25 billion to the Aliko Dangote Foundation in March 2014, enabling it to scale up its work in health, education and economic empowerment. In addition, he is collaborating with the Bill and Melinda Gates Foundation to fight polio and other issues.[30][31][32] He is also on the Board of One Campaign.[33][34][35]

Awards

  • Dangote was awarded Nigeria's second-highest honour, the Grand Commander of the Order of the Niger (GCON) by the former president, Goodluck Jonathan.[36]
  • Dangote was named as the Forbes Africa Person of the Year 2014.[37]
  • For six consecutive years, 2013,[38] 2014,[39] 2015,[40] 2016,[41] 2017,[42] and 2018[43] Forbes listed him as the 'Most Powerful Man in Africa'.
  • In 2014, he was listed CNBC's 'Top 25 Businessmen in the World' that changed and shaped the century.[44][45]
  • In April 2014, TIME Magazine listed him among its 100 Most Influential People in the World.[46][47][48]
  • In October 2015, Dangote was listed among '50 Most Influential Individuals in the World' by Bloomberg Markets.[49][50]
  • He won 'The Guardian Man of the Year 2015'.[51]
  • He won the '2016 African Business Leader Award,’ organised by the Africa-America Institute (AAI).[52][53]
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See also

References

  1. ^ "Aliko Dangote". Forbes. Retrieved 27 July 2020.
  2. ^ "History & Strategy – Dangote Industries Limited". Retrieved 15 March 2020.
  3. ^ "Aliko Dangote".
  4. ^ Nweke, Ifeanyi. "What you should know about Dangote". Retrieved 14 July 2015.
  5. ^ Ilan Bijaoui (2017). Multinational Interest & Development in Africa: Establishing a People’s Economy. Springer. p. 55. ISBN 978-33-1948-914-8.
  6. ^ a b Gabriel Edigheji. The Entrepreneur Magazine. Lulu.com. ISBN 978-1-105-9093-20.[self-published source]
  7. ^ "The World's Billionaires: Aliko Dangote". Forbes.com. Retrieved 9 March 2018.
  8. ^ Italoye, Ibukun (25 November 2019). "Aliko Dangote's Children: Names of His Sons & Daughters". Nigerian Infopedia. Retrieved 15 March 2020.
  9. ^ Adekunle (22 March 2014). "Aliko Dangote - a Lesson for African Entrepreneurs". Vanguard. Retrieved 11 July 2014.
  10. ^ a b "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.
  11. ^ IV, Editorial (4 January 2018). "Birnin Kudu College hails Dangote on projects". Blueprint. Retrieved 15 March 2020.
  12. ^ "The World's Billionaires: Aliko Dangote". Forbes.com. Retrieved 9 March 2018.
  13. ^ "Dangote Sugar Refinery Plc (DSR)", Institute of Developing Economies-Japan External Trade Organization. Accessed 26 November 2015.
  14. ^ "Dangote's $1m for renovation of MKO Abiola stadium excites Adelabu - Nigeria and World News". The Guardian Nigeria News - Nigeria and World News. 28 August 2020. Retrieved 19 October 2020.
  15. ^ "Somalia orders top U.N. official to leave". Reuters. 2 January 2019. Retrieved 2 January 2019.
  16. ^ "Who Is A Wealthy Man? The Aliko Dangote Story". Nigerian Observer. 23 December 2014. Retrieved 2 April 2015.
  17. ^ "Group wants Obasanjo prosecuted over Presidential Library donations, others". Premium Times Nigeria. 31 July 2013. Retrieved 2 January 2019.
  18. ^ "Aliko Dangote Racks in $9.2 bn in 2013". BellaNaija. 3 January 2014.
  19. ^ "Nigeria reports one more Ebola case, 11 in total". Reuters. Retrieved 20 June 2015.
  20. ^ "Africa's richest man gives N150m to fight Ebola - Corporate News". businessdailyafrica.com. Retrieved 20 June 2015.
  21. ^ "Dangote donate N200m to fight Coronavirus in Nigeria". CNBC Africa. 3 March 2020. Retrieved 28 March 2020.
  22. ^ https://www.channelstv.com/2019/07/11/afcon-dangote-otedola-to-splash-75000-per-goal-on-super-eagles/
  23. ^ "UN chief hails Dangote's interventions". Daily Trust. 25 August 2015. Retrieved 22 March 2020.
  24. ^ "United Nations Girls' Education Initiative - Global Section - Global Business Leaders Launch Girls' Education Task Force". UNGEI. Retrieved 22 March 2020.
  25. ^ a b "U.S. Chamber Names Aliko Dangote Co-Chair of U.S.-Africa Business Center". U.S. Chamber of Commerce. 20 September 2016. Retrieved 22 March 2020.
  26. ^ "US Chamber names Dangote Co-Chair of US-Africa Business Centre". Vanguard News. 20 September 2016. Retrieved 22 March 2020.
  27. ^ guardian.ng https://guardian.ng/business-services/africas-richest-man-to-co-chair-us-africa-business-center-by-u-s-chamber-of-commerce/. Retrieved 22 March 2020. Missing or empty |title= (help)
  28. ^ "U.S. Chamber of Commerce Appoints Benedict Peters To Advisory Board of The U.S.-Africa Business Center". CNBC Africa. 24 September 2019. Retrieved 22 March 2020.
  29. ^ "Aliko Dangote GCON – Omnia Strategy LLP". omniastrategy.com. Retrieved 22 March 2020.
  30. ^ "Bill Gates: Melinda and I are lucky to have Dangote as a friend". TheCable. 1 October 2019. Retrieved 22 March 2020.
  31. ^ AfricaNews (3 October 2019). "Here's why Bill Gates and Nigeria's Dangote have a 'fruitful partnership'". Africanews. Retrieved 22 March 2020.
  32. ^ Yakowicz, Will. "Bill Gates and Two African Billionaires Say Family Planning is Essential to Africa's Future". Forbes. Retrieved 23 March 2020.
  33. ^ "Aliko Dangote". ONE. 1 September 2016. Retrieved 23 March 2020.
  34. ^ "African Business leader and Philanthropist, Aliko Dangote, joins Board of The ONE Campaign". ONE. 1 September 2016. Retrieved 23 March 2020.
  35. ^ "Dangote and Bono launch poverty tackling partnership". ONE. 29 August 2016. Retrieved 23 March 2020.
  36. ^ "BN Bytes: Genevieve Nnaji, Stephanie Okereke, Amaka Igwe, Aliko Dangote & Jim Ovia receive Honours – Photos from the Ceremony". BellaNaija. 15 November 2011. Retrieved 20 June 2015.
  37. ^ Reed, Megan. "Nigerian Businessman Aliko Dangote Named Forbes Africa Person of the Year 2014". atlantablackstar.com. Retrieved 28 December 2014.
  38. ^ Nsehe, Mfonobong. "The African Billionaires 2013". Forbes. Retrieved 23 March 2020.
  39. ^ Nsehe, Mfonobong. "The African Billionaires 2014". Forbes. Retrieved 23 March 2020.
  40. ^ Africa, Forbes. "Africa's 50 Richest 2015". Forbes Africa. Retrieved 23 March 2020.
  41. ^ Nsehe, Mfonobong. "The African Billionaires 2016". Forbes. Retrieved 23 March 2020.
  42. ^ Africa, Forbes (1 February 2017). "Africa's Billionaires". Forbes Africa. Retrieved 23 March 2020.
  43. ^ Dolan, Kerry A. "African Billionaire Fortunes Rise On Forbes 2018 List Of Continent's Richest". Forbes. Retrieved 23 March 2020.
  44. ^ staff, CNBC com (29 April 2014). "CNBC 25: Aliko Dangote". www.cnbc.com. Retrieved 23 March 2020.
  45. ^ CNBC (29 April 2014). "The List: CNBC First 25". www.cnbc.com. Retrieved 23 March 2020.
  46. ^ "The 100 Most Influential People in the World". TIME.com. Retrieved 23 March 2020.
  47. ^ "The World's 100 Most Influential People". TIME.com. Retrieved 23 March 2020.
  48. ^ "Aliko Dangote". Time. Retrieved 23 March 2020.
  49. ^ "Power, Money, and Ideas: Bloomberg Markets 50 Most Influential People". Bloomberg.com. Retrieved 23 March 2020.
  50. ^ admin (6 December 2017). "Dangote Emerges Only African on Bloomberg’s List of 50 Most Influential People". THISDAYLIVE. Retrieved 23 March 2020.
  51. ^ guardian.ng https://guardian.ng/news/dangote-honoured-as-the-guardian-man-of-the-year-2015/. Retrieved 23 March 2020. Missing or empty |title= (help)
  52. ^ "Businessman & Philanthropist Aliko Dangote to Accept 2016 AAI African Business Leader Award". The Africa-America Institute. 17 August 2016. Retrieved 23 March 2020.
  53. ^ "American institute names Dangote African Business Leader of the Year". TheCable. 26 September 2016. Retrieved 23 March 2020.

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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External links