- Africa’s richest man, Aliko Dangote, has ranked 9th on the 2023 list of the world’s richest manufacturing billionaires by CEOWorld magazine.
- With a net worth of $10.5 billion, Dangote is the only African on the list, which is dominated by billionaires from Asia and Europe.
- The 66-year-old derived most of his wealth from his 85.2% stake in Dangote Cement, the largest cement producer in sub-Saharan Africa.
- Dangote credits his grandfather for instilling business values in him from a young age.
- His Dangote Group conglomerate operates in over 10 African countries across industries like cement, sugar, and flour.
- Dangote believes manufacturing is key to lifting people out of poverty in Africa through job creation, as seen in industrialized countries like Singapore and South Korea.
- He has argued that no country can attain developed status without a thriving manufacturing sector.
- Dangote started his business in the 1980s with a small loan and has built it into a vast multinational conglomerate.
