Richest Man In Africa

Richest Man In Africa

Alhaji Aliko Dangote (born April 10, 1957) is a businessman based in Nigeria. He is the owner of the Dangote Group, which has operations in Nigeria and several other countries in Africa, including Benin,Cameroon, Ghana, South Africa and Zambia.[3] A wealthy supporter of erstwhile President Olusegun Obasanjo and the ruling People’s Democratic Party (PDP), Dangote controls much of Nigeria’s commodities trade through his corporate and political connections. With an estimated current net worth of around US$ 13.8 billion, he was ranked by Forbes as one of the richest African citizens[4] and richest person of African descent in the world toppling Mohammed Al Amoudi ($12.3 billion) and Oprah Winfrey ($2.7 billion.)[5]

The Dangote Group, originally a small trading firm founded in 1977, is now a multi-trillion naira conglomerate with operations in Benin, Ghana, Nigeria, and Togo. Dangote’s businesses include food processing, cement manufacturing, and freight. The Dangote Group dominates the sugar market in Nigeria: it is the major sugar supplier to the country’s soft drink companies, breweries, and confectioners. Dangote Group has moved from being a trading company to Nigeria’s largest industrial group, including Dangote Sugar Refinery (the most capitalized company on the Nigeria Stock Exchange, valued at over US$3 billion with Aliko Dangote’s equity topping US$2 billion), Africa’s largest Cement Production Plant: Obajana Cement, Dangote Flour amongst others.

Added on: July 10th, 2011

Category: CORPORATE, DOCS, ENTREPRENEURS, LIFESTYLE, MONEY, MONEY, MOTIVATION

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