Aliko Dangote is African businessman born on 10 April 1957. He is the chairman and founder of Dangote Group.
On 12 July 2020 his net worth was $7.7 billion making him the wealthiest person in Africa and placing him in the 162nd position on the World Map as of 29 May 2020. Many play this game in Africa, but Aliko Dangote play it skillfully, he has been able to maintain the 1st position of the wealthiest person in Africa for ten years now. Besides, he has also achieved several desirable feats.
You might be wondering how holding 1st position for the wealthiest person in Africa for ten years is possible? This is a question worth asking. Dangote skillful actions, his personal business decision he has stack with over the years might be some of the things that keep him grounded to his feats.
Dangote has done a lot that cannot fit this paper; however, we will bring to light some of the things this billionaire has done in the past 11 years of his craft.
African Businessman Massive Investment in the Construction of a Cement Plant
In 2011, Dangote made massive investments in two significant areas. He invested $400 million to construct cement plant and a total of R779 million to increase the Dangote Industries Limited stakes by 44.24% (Sephaku Cement Limited), an industry based in South Africa.
The Foreign Direct Investment (FDI) was the largest investment ever in SA in 2011. One might have thought the man was crazy for the gold if the Dangote group was not in existence in 14 countries at the time.
The Boston Consulting Group (BCG), a United States-based rating agency had already listed the Dangote Group among the top 40 African challengers. The company’s growth potential was spotted a long time back.
The Mammoth Deal
In 2015, Dangote signed a mammoth deal with SINOMA, a Chinese state-owned engineering company to build factories for Dangote Cement Plc.
Seven plants were to be built across the continent and one in Nepal. The deal was worth $4.3 billion. The billionaire anticipated an increase in the company’s production by 25 million metric tones through the expansion. It wasn’t just another avenue to spend money.
The Construction of a Rice Processing Plant
The African businessman has been on a journey to better his country. In 2018, he made a significant move in the production of rice in Nigeria. He constructed a rice processing plant in Jigawa-culmination of series of vents that started years back.
He also signed a $1 billion agreement with the Federal government to integrate rice production in various areas like Kano, Jigawa, Zamfara among others. The rice processing plant could produce 16 tons of rice an hour totaling to 14-billion-naira worth of rice the entire year.
This move was taken positively by the citizens as it was a move that was to improve their livelihoods with the end goal to make Nigeria self-sufficient in rice production. Moreover, the billionaire has promised to invest more in Agriculture in the recent past. This makes us expects much more of such actions from him.
Consolidation on the Refinery Plants
The refinery plant, which had long commenced, was to be strengthened in 2019. Dangote had since requested the facility to be made.
Sinopec, a Chinese-based energy and chemical company, was in charge of the construction of the facility. It has been named the largest in the World. This facility since has been installed at the Dangote refinery.
It is expected that the refinery will meet Nigeria’s demand for petroleum products and later start on a journey to become the largest petroleum product exporter in Africa.
If this comes to materialize, then Nigeria will realize a boost in its economy since it would be Africa’s biggest producer of petroleum and gas products.
The Donation of N2 Billion Naira
The Africa richest man has significantly contributed towards the pandemic. Earlier this year, Dangote donated N2 and other materials to the private sectors in the fight of the coronavirus. This clearly showed the open heart the billionaire has to partner with the government and help the Nigerian citizens fight the pandemic, and the problems it has brought with it.
Ever since the billionaire has chipped in whenever the country faces hardship, he contributed N100 worth of materials to help rebuild the destroyed buildings after Abule-ado explosion.
The billionaire has probably done a lot for his country and Africa at large, either directly or indirectly. The above is just some of his tremendous and charitable works; many are not yet mentioned in this article.
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