He’s well known as the richest man in Africa. But very few have taken a close look. Let’s have a look.
When we talk about billionaires, we often like to hear a grass to grace story. Alas, that is hardly the case with Aliko Dangote.
Aliko Dangote was born in Kano, Nigeria on 10 April, 1957. His grandfather, Sanusi Dantata, was a businessman and director of the Nigeria branch of Shell B.P. He comes from a long line of Allasawa, derived from “Alhassan” Dantata. Alhassan Dantata was Aliko Dangote’s great grandfather. He traded in Kolanuts and groundnuts and was a distributor of European goods. During his time, he was the richest man in West Africa.
All these is not to take away from the fact that Dangote is as hardworking as a person can be. Otherwise, he would never have gotten to where he is.
Early years
Upon receiving a loan from his uncle, Dangote moved to Lagos to begin trading in consumer goods like rice, sugar, cement, etc. From then on, he ventured into manufacturing. Today, the Dangote Group is one of the largest companies in Africa.
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His brother, Sani, served as vice president of Dangote Group before his death in 2021. Dangote Group currently has Africa’s biggest cement producer, Dangote Cement. Other divisions include Dangote Flour, Dangote Sugar Refinery.
In 2016, Dangote commenced construction of his oil refinery. The refinery is said to be worth $19 billion.
It can be said that one key factor in Dangote’s success is his focus on manufacturing basic consumer products like salt and sugar. There is hardly a house you will go to and not find at least one Dangote product.
Read also: Meet the Top 10 wealthiest men in Nigeria
Net worth
According to the Forbes website, Dangote is worth $13.5B and is currently #136 in the Real Time billionaires list.
Perhaps the most important thing to be learned from Alhaji Aliko is how far he has spread his wings. As mentioned earlier, Dangote is currently building an oil refinery. The investment is estimated to be over $25 billion. He also has investments in other African countries including Kenya and Ghana.
Dangote has three daughters- Mariya, Halima and Fatima. Halima, the eldest, is on the board of Dangote Group. His mother, Mariya Sanusi Dantata, is a revered stateswoman. She lives in Kano, Nigeria.
We should learn from this on how people buy from us not always buying from people.