Monday, 24 June 2024

Aliko Dangote, Founder and Chairman, Dangote Group

Nigeria

Champion's Profile

Net worth: $14.1 billion Aliko Dangote is a Nigerian business magnate, investor, and owner of the Dangote Group, which has interests in commodities in Nigeria and other African countries. He is the richest person of African descent. He often bought a package of candy and selling it back in primary school just to make additional pocket money. Initially a small trading firm in 1977, Dangote is now a conglomerate with many of its operations in Benin, Ghana, Nigeria, 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

UNDP SDG

CSR

Description and impact

Some of the Foundation's activities in Nigeria include, N1 billion for Nigerian universities including N500 million for development of a business school in Bayero University and N100 million for the proposed Otuoke University in Bayelsa State. The Foundation also disbursed N230 million to women in Kogi State as a micro grant as part of the Kogi Human Capital Development initiative. In order to alleviate the suffering of communities in Jos suffering from effects of a prolonged ethno-religious crises in 2010, the Dangote Foundation made a donation of relief materials worth N50 million to the community leaders.