8 March 2018

Nigeria: Business Mogul Dangote Tops Africa's Richest List

Photo: Dangote
Aliko Dangote

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.

More on This

Dangote Loses U.S.$5.5 Million Monthly to Apapa Traffic Jam

The management of Dangote Group has said its sugar and salt companies lose about N2 billion monthly to the perennial… Read more »

See What Everyone is Watching

Copyright © 2018 allAfrica.com. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 600 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.