Saturday, 28 November 2015

5 things you may like to know about Aliko Dangote Dangote GCON (born 10 April 1957) is a Nigerian billionaire who owns the Dangote Group, which has interests in commodities and lately oil and gas. 

The company operates in Nigeria and other African countries, including Benin, Cameroon, Ghana, South Africa, Togo, Tanzania, and Zambia as of January 2015, he had an estimated net worth of US$18.6 billion.

Dangote is ranked by Forbes magazine as the 67th richest person in the world and the richest in Africa; he peaked on the list as the 23rd richest person in the world in 2014 (Wikipedia).

He sold sweet when he was in primary school

Dangote 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 was named African person of the year 2014

Dangote was named as the Forbes Africa Person of the Year 2014. The other nominees for the award were South Africa’s Public Protector, Thuli Madonsela, Nigerian author, Chimamanda Ngozi Adichie,, Director-General of the Securities and Exchange Commission, (SEC), Arunma Oteh, and President of the African Development Bank, Donald Kaberuka.

He Founded Dangote Group as a small Trading company in 1977

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. Dangote has expanded to cover food processing, cement manufacturing, and freight, Petroleum Refining.

The Dangote Group also dominates the sugar market in Nigeria and was the major supplier to the Nigeria'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 includes: Dangote Sugar Refinery, Dangote Cement, and Dangote Flour.

He started business with five hundred thounsand Naira loan

It was while working under his uncle, Sani Dantata that he found his passion and began developing his business skills. After developing his business skills and building his confidence, he got a loan of N500,000  from his uncle in 1977 to start his own business. 

Aliko Dangote was also given a deadline of three years to repay the loan but he repaid the loan in three months

He studied Business at the Al-Azhar University in Cairo, Egypt

Alhaji Aliko Dangote, a Northerner, precisely from Kano State, Nigeria, was born on the 10th of April 1957 into a wealthy Muslim family. He studied Business at the Al-Azhar University in Cairo, Egypt.

Featured post

Inspiring Stories of Successful Nigeria Entrepreneurs

Arguably Nigeria Entrepreneurs faced some of the biggest challenges worldwide. I could remember when I went to my ...