Africa

Dangote Emerges as Africa’s Wealthiest Individual for the 12th Year in a Row, According to Forbes Index.

Dangote cement completes first set of share buy-back

For the 12th consecutive year, Aliko Dangote, President of the pan-African Conglomerate, the Dangote Group has emerged the richest man in Africa.

This is despite economic headwinds that affected the fortunes of half of the world’s billionaires.

Dangote, whose business flagship, Dangote Cement Plc is the largest producer of cement in Africa, is the only Nigerian in the list of first 200 richest men in the world with an estimated net worth of $14.2 billion, up from last year’s $12.1 billion.

Read:  2023: APC debunks rumours of planned move of Nigeria’s capital to Lagos by Tinubu.

Forbes, in its latest ranking of world billionaires for 2023 reported that falling stocks, wounded unicorns and rising interest rates translated into a down year for the world’s wealthiest people.

Dangote, presently ranked 124th among the world’s richest billionaires, is the only Nigerian in the top 200 world billionaires and one of the two Africans within that bracket; with South Africa’s Johann Rupert, who deals in luxury goods ranked 157th with a net worth of $11.1 billion.

The Africa’s richest man founded and chairs Dangote Cement, the continent’s largest cement producer.

Read:  Liquid Intelligent Technologies and Orange partner to expand network reach across Africa and build a safer digital society.

Dangote Cement has production capacity of 51.6 million tonnes per year across ten countries in Sub-Saharan Africa, with integrated factories in seven countries, a clinker grinding plant in Cameroon, and import and distribution facilities in Ghana and Sierra Leone.

Dangote also owns stakes in publicly traded Dangote Salt (NASCON) and Dangote Sugar manufacturing companies. His Dangote Petroleum Refinery, touted to be the world’s largest single-train refinery, was recently commissioned and is expected to process 650,000 bpd of petroleum for domestic consumption and export; in what experts have described as a game changer in the oil and gas sector.

The foremost philanthropist had earlier been rated 11th of the 50 World’ Greatest men and women of all time by Fortune Magazine, an American multinational business magazine which premised the ranking of the world’s greatest mainly on the businesses run by the men and how they have used it to impact their society positively.

Read:  Asisat Oshoala Celebrate Women's Champions League Final Win.

Related posts

AWIEF Opens Registration for the 2023 Africa Women Innovation and Entrepreneurship Forum Conference to be Held in Kigali, Rwanda.

NigGal

Google boosts safety of Internet users with Africa programmes.

NigGal

African Development Bank approves $86.72 million loan to boost water security and socio-economic development in South Africa and Lesotho.

NigGal

MultiChoice to air the prestigious Earthshot Prize Awards ceremony on screens across Africa

NigGal

AfDB Woos Investors with $58bn Bankable Projects in Africa.

NigGal

France votes 3.5 billion Euros for African SMEs, to finance Nigerian states’ health sectors

NigGal

Leave a Comment