Alhaji
Aliko Dangote, MFR, GCON (born 10 April 1957, Kano, Nigeria) is a
business magnate in Nigeria. who owns the Dangote Group, which has
interests in commodities. The company operates in Nigeria and several
other countries in Africa, including Benin, Cameroon, Togo, Ghana, South
Africa and Zambia. As of March 2014, he had an estimated net worth of
$25 billion USD .
Dangote
is ranked by Forbes Magazine as the 23rd richest person in the world
and the richest man in Africa. He surpassed Saudi-Ethiopian billionaire
Mohammed Hussein Al Amoudi in 2013 by over $2.6 billion to become the
world's richest black man.
Early life
Alhaji
Aliko Dangote, a northerner from Kano State, Nigeria, was born on the
10th of April 1957 into a wealthy Muslim family. From the time he was
young Dangote had an eye on business. He said, "I can remember when I
was in primary school, I would go and buy cartons of sweets [sugar
boxes] and I would start selling them just to make money. I was so
interested in business, even at that time." He studied business at the
Al-Azhar University in Cairo, Egypt and thereafter returned to Nigeria
to borrow from his uncle Sanusi Abdulkadir Dantata, would eventually
provide him a loan of ₦500,000 (Naira, NGN) when he was just 21 years
old to start a business.
Business career
The
Dangote Group was established as a small trading firm in 1977. Today,
it is a multi-trillion naira conglomerate with many of its operations in
Benin, Ghana, Nigeria, and Togo. At present, Dangote has enlarged his
line of businesses to also cover food processing, cement manufacturing,
and freight. The Dangote Group also dominates the sugar market in
Nigeria and is a major sugar supplier to the country's soft drink
companies, breweries, and confectioners. The Dangote Group has moved
from being a trading company to being the largest industrial group in
Nigeria and these include: Dangote Sugar Refinery, Dangote Cement, and
Dangote Flour, just to mention a few. 0
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