This billionaire is the only African among the 10 richest manufacturers in the world - La Nouvelle Tribune

In a recent ranking established by the CEOWorld magazine in 2023, the world’s 10 richest manufacturers have been revealed. A notable feature of this list is that it is dominated by billionaires from Asia and Europe. However, one personality stands out among them: Aliko Dangotethe only African to appear in this elite group.

The name of Dangote is synonymous with success in the business world. His group, Dangote, is one of Africa’s largest private conglomerates, with operations in more than 10 countries. With a net worth of $10.5 billion, he ranks prominently among the richest manufacturers in the world.

Aliko Dangote, 66, built his fortune largely through his 85.2% majority stake in Dangote Cement, sub-Saharan Africa’s largest cement producer. However, he attributes much of his success to his maternal grandfather, who instilled an entrepreneurial spirit in him from an early age. He started his business in the early 1980s with a small loan from his uncle and has since grown into a large conglomerate with interests in diversified sectors such as cement, sugar, flour, salt and many others.

The Dangote Group has expanded its influence across the African continent, with companies such as Dangote Flour, Dangote Sugar and, of course, Dangote Cement. His vision for manufacturing is clear: it’s one of the most effective ways to lift people out of poverty by creating good-paying jobs.

Dangote is also a strong advocate of industrialization to boost the economy. He notes that countries smaller than Nigeria, such as Singapore and South Korea, have high GDP per capita levels of $65,233 and $31,846 respectively, thanks to their industrial development.