Nigeria: Business Mogul Dangote Tops Africa's Richest List

Photo: Dangote
Aliko Dangote
8 March 2018

Cape Town — President of Dangote Group, Aliko Dangote, has retained his position as the richest man in Africa. His fortune is estimated at U.S.$14.1 billion.

According to Forbes, Dangote ranks number 100 globally with the source of his wealth being cement, salt, sugar and flour manufacturing. He founded and chairs Dangote Cement, Africa's largest cement manufacturer. He also owns sugar, salt and four milling businesses that are all listed on the Nigerian Stock Exchange.

Aliko Dangote recently donated a U.S.$3.5 million building to the Bayero University in Kano.

Dangote makes no secret of his desire to buy English Premier League football club Arsenal.

Dangote is Africa's richest man for the eighth year in a row. Other Nigerians on the African list are Globacom Chairman Mike Adenuga at position 365 with a net worth of U.S.$5.3 billion aand ranked the fifth richest in Africa and Folorunsho Alakija rated the 15th richest in Africa, with a  fortune currently estimated at U.S.$1.6 billion.

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