Aliko Dangote -The Richest African
Aliko Dangote, known as the humblest billionaire in Africa, was interviewed by Mo Ibrahim regarding African business and the freedom of movement within the continent. As the CEO of Dangote Group, he discussed business, leadership, and regional integration. He highlighted the greater freedom of movement for foreigners, particularly Europeans and Americans, in Africa compared to that of Africans themselves. Dangote promoted agriculture as a lucrative income source that doesn’t require heavy investment but can yield significant returns. He also emphasized the importance of Africa adding value to its products, using the continent’s leading cocoa producers, Ghana and Ivory Coast, as examples. Finally, he shared his journey of earning his first million, which eventually multiplied into billions.
When I first started the business my target was to make my first million, and I did that, but after a year or so, I realize I have more than twelve to thirteen billion in the bank, so one day I went to a bank and withdrawn ten thousand dollars in cash.
I took it home in the booth of my vehicle, I later opened it and said to myself:
“Yes, now I believe I have money”
-Aliko Dangote-
On April 6, 2019, a remarkable session unfolded during the Ibrahim Governance Weekend in Abidjan. It showcased an engaging dialogue with an individual whose wealth is matched only by their humility, leaving a lasting impression on all who attended.
Aliko's International Investment
In his interview with Mo Ibrahim, Aliko Dangote highlighted the challenges of investing abroad. He indicated that it is not his current focus. Nonetheless, it’s confirmed that Dangote is preparing to invest upwards of 50 billion dollars outside Africa by 2025.
Aliko's Global Vision
Sources said 60% of the Dangote Group’s future investments will be outside Africa, aiming for a balanced portfolio.
While considering opportunities in Asia and Mexico, Dangote’s primary focus lies on investing in the U.S. and Europe.
His ambitious plans include investments in renewable energies and petrochemicals.
By 2025, he aims to allocate between $20 billion and $50 billion toward these ventures in the U.S. and Europe.
Aliko Dangote’s journey from a commodities’ trader to a multibillion-dollar industrialist exemplifies his entrepreneurial spirit and global vision.
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