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    Categories: BusinessMoneyNewsOpinionWeekly Columns

El Hadj Mohamed Aliko Dangote, The Richest Black Man On The Whole Planet.

(ThyBlackMan.comAt 60 years old, from Kano in the North of Nigeria, he is a multi-billionaire. His net worth is estimated $13,8 Billion as published in Forbes, 2018 Rating, a fortune he could earn into 30 years of investing strategy via his holding Dangote Group. When Forbes proclaimed in 2017 Oprah Winfrey as the richest black personality in the world, Dangote called the magazine to protest to argue he is richer than Winfrey. He declared to Bloomberg agency he is preparing to invest by now to 2025 in Usa and Europe between $20 to $50 billion in petrochemical and renewable energy. He truly created a surprise when he declared his ambition to buy the famous English football club Arsenal in London. If he controls Arsenal, he said “the first decision I will take is to fire Arsene Wegner the trainer”.

Dangote Group, his financial empire is the most powerful in Africa with its headquarters in bustling metropolis of Lagos, Nigeria’s capital in West Africa. Manufacturing cement is the pillar of his firm with many other sectors as sugar, flour, pasta, real estate, automobile, bank, packing and distribution etc. Dangote Cement easily challenging the world best cement factory LafargeHolcim, has factories in 18 countries like Brazil, Indonesia producing 45 million cement tons, a capacity seen by this firm directors to be increased to 100 million tons. Obajana Cement Plant is the greatest cement factory in western Africa. Dangote owns about 15 companies, one of which is the largest market capitalization of Nigeria (Nigeria Stock Exchange). He represents 60% of Nigerian market and 10% of the wealth produced in the country.

Dangote was born in a rich muslim trader family. His father was a rich kolanuts trader who died in 1965. His grand-father, founder of the Dawanau market in Kano has coached him in business management skills. Dangote interest for making business profit started in his childhood. He said as teenager he liked buying sweets cadies and sell them at school to his friends. He never stopped doing it. He went for business studies to the prestigious al-Azhar University in Cairo (Egypt). Back home to Kano by 1977 with a graduation, he requested his uncle a loan to repay in 4 years. He is given $3,000. His grand-father added 3 cement trucks. The cement was expensive at this time. He could repay his debt and opened his company in Lagos in 1980 at 20 aged.

In 1983, a coup d’état had shaken his country. The main influent businessmen in Lagos are enjailed. That came to be the opportunity for Dangote who rapidly imported rice, sugar, pasta to provide the market. He even created a bank which totally failed. He could build a sugar refinery and packaging factory. In 2007, 2 of his companies entered the Nigeria stock exchange. Dangote turned into a amazing golden success story revealed by himself. He is said to be an exception of success out of the Nigerian oil exploitation. In 2013, in partnership with a bank group, he built a new oil refinery with 400,000 barrels per day capacity, for $8 billion investment. Today, he is spreading his group cement activities to many Africans countries, Cameroon, Côte d’Ivoire, South Africa, Zambia, Ethiopia, Senegal, Mozambique.

Welcomed as a VIP by head of states, ex French President François Hollande, ex Us President Obama, he is a national icon in the federal republic of Nigeria, the most populated country in Africa, approximatively 190,000,000 people, ruled by President Muhammadu Buhari, head of state democratically elected in 2015.

Dangote survived 3 planes crashes. He is said to be a simple man rarely talking to media. He got involved in philanthropy actions with Bill Gates to fight against malnutrition in Nigeria. He said at a conference in a Lagos Business School in June 2017 “I can’t sleep by night” to explain his pain seeing African youth unemployment and poverty around him. He likes repeating “Private sector is the key. Lot of work remains to be collectively done. You have to work 18hours per day”. Currently married, he went married and divorced 3 times. He has 15 children.

Sources: www.dangote.com, and www.bfmbusiness.bfmtv.com

Staff Writer; Abu-Jahlil Astrid Chacha

One may also connect with this brother on Facebook; Segla A.




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