VIDEO – Africa’s Richest Man: Alhaji Aliko Dangote

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Alhaji Aliko Dangote (born April 10, 1957) is a Nigerian businessman based in Nigeria. He is the owner of the Dangote Group, which has operations in his homeland and several other countries in Africa, including Benin, Cameroon, Ghana, South Africa and Zambia.

It is estimated his current net worth is around US$13.8 billion, and was ranked by Forbes as the richest Nigerian citizen and 51st richest person in the world. He is also simultaneously the richest person of African descent in the world, surpassing Mohammed Al Amoudi ($12.3 billion) and Oprah Winfrey ($2.7 billion.)

The Dangote Group, originally a small trading firm founded in 1977, is now a multi-trillion naira conglomerate with operations in Benin, Ghana, Nigeria, and Togo. Dangote’s businesses include food processing, cement manufacturing, and freight. The Dangote Group dominates the sugar market in Nigeria: it is the major sugar supplier to the country’s soft drink companies, breweries, and confectioners.

Dangote Group has moved from being a trading company to Nigeria’s largest industrial group, including Dangote Sugar Refinery (the most capitalized company on the Nigeria Stock Exchange, valued at over US$3 billion with Aliko Dangote’s equity topping US$2 billion), Africa’s largest Cement Production Plant: Obajana Cement, Dangote Flour amongst others.