Posts Tagged ‘Aliko Dangote’

Africa’s richest man – Nigeria’s Aliko Dangote

Eddie Grant – Hello Africa

http://www.youtube.com/watch?v=lplBTT3OFYM

Africa’s richest man – Cementing a fortune

The king of concrete has ambitions beyond Nigeria

Jun 23rd 2012 | LAGOS | The Economist

Aliko Dangote

IN A grey building on a busy roundabout in Lagos, Nigeria’s commercial capital, Aliko Dangote deals in everything from cement and sugar to pasta and prayer mats. His ascent did not follow the usual path of the Nigerian mega-rich who feed at the oil trough. A decade ago he took over several failing state enterprises and made them profitable. His critics say he is too cosy with politicians, and that his dominance of certain sectors harms the economy. But his record of building factories and reducing Africa’s dependence on imports is undeniable. “I want to be the most successful businessman in the world,” he says.

At 55, he is ranked 76th on the latest Forbes list of billionaires as Africa’s richest man. He was born into a well-to-do Muslim family in the northern city of Kano. A forebear traded in kola nuts, paid for young Aliko’s business studies in Cairo, and in 1977 funded his first firm, a commodities-trading company that became a continental conglomerate.           Continue reading