in ,

Africa’s Richest Man: Aliko Dangote Ends 2019 $4.3m Richer

Information reaching us indicates that Africa’s richest man, Aliko Dangote, became $4.3 billion richer in 2019.

The 62-year-old businessman ended the decade with a net worth of almost $15 billion, making him the 96th wealthiest man in the world.

According to the Bloomberg Billionaires Index, his fortune continued to grow on the back of investments in cement, flour and sugar.

View this post on Instagram

Loading...

Aliko Dangote, Africa’s richest man, became $4.3 billion richer in 2019 as his fortune continued to grow on the back of investments in cement, flour and sugar. Born into a wealthy Muslim family of traders in the north, Dangote incorporated his own business selling cement at 21. He shifted to manufacturing the building material in the 1990s, helped by government policies that encouraged ways to reduce the need for imports. His critics still accuse him of taking advantage of his closeness to the government to gain an unfair market advantage, a claim he has repeatedly dismissed. #thesouthernafricantimes #SATBusiness #business #nigeria #dangote #dangoterefinery #news

A post shared by The Southern African Times (@thesouthernafricantimes) on

Born into a wealthy Muslim family of traders in the north, Dangote incorporated his own business selling cement at 21.

He shifted to manufacturing building materials in the 1990s, helped by government policies that encouraged ways to reduce the need for imports.

The year 2020 could be a significant one for the billionaire, who is close to completing one of the world’s largest oil refineries in Nigeria.

The plant has the capacity to meet more than Nigeria’s entire fuel consumption and could transform an economy that currently imports all its refined product needs.

Dangote is also constructing a fertilizer factory on the same site.

Loading...

Written by MT

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Lionel Messi Emerges Highest Goals Scorer, Tops Assist King of Last Decade

Iran Finally Reacts, Promises ‘Harsh Vengeance’ After US Assassination of Qasem Soleimani in Iraq