HomeBusinessNigerian Billionaire Aliko Dangote Is Africa's 2nd Most Powerful Person

Nigerian Billionaire Aliko Dangote Is Africa’s 2nd Most Powerful Person


Aliko Dangote: Africa's Richest Man
Aliko Dangote

AFRICANGLOBE – Nigerian billionaire Aliko Dangote is the 2nd most powerful man in Africa, according to FORBES Magazine’s latest ranking of the World’s Most Powerful People.

Dangote, 57, who is Africa’s richest man with a fortune estimated at $21.3 billion, is listed as the 68th most powerful person in the world, and is one of only two Africans to appear on this year’s list. Africa’s most powerful man is Egyptian President Abdel Fattah el-Sisi, who was elected president of Arab’s most populous state in June with 96.6% of the rigged vote. He ranks 51st on the power list which was published on Wednesday.

Here’s the short bio of Dangote as published on Forbes:

Heralded by some as the face of the new Nigeria, Africa’s richest man is looking beyond cement, sugar and flour — the three commodities that built his fortune — to the oil business. In April he announced $9 billion in financing from a consortium of local and international lenders to construct a private oil refinery and fertilizer and petrochemical complex in the country.

In August he announced plans to invest $1 billion in commercial rice farming and modern rice mills. His publicly traded Dangote Cement is also grabbing new markets in Africa, with $750 million in new plants planned for Kenya and Niger. He made his first fortune more than three decades ago when he started trading commodities with a loan from his powerful uncle.

Dangote holds the national honor of Grand Commander of the Order of the Niger, an honor that was previously the exclusive reserve of high-ranking government officials in Nigeria.


Aliko Dangote Africa’s Richest Man

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