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Tag: Alhaji Aliko Dangote

  • Dangote advocates for borderless Africa

    Dangote advocates for borderless Africa

    The richest man in Africa, Aliko Dangote, has expressed his displeasure with the strict visa regulations impeding travel within the continent.

    The chairman and CEO of Dangote Group emphasised the bureaucratic obstacles he must overcome in order to travel across the continent on business, requiring the issuance of 35 separate visas.

    During an Africa CEO Forum session in Kigali, Dangote, who is well-known for his large investments throughout the continent, voiced his complaints.

    “As an investor, as somebody who really wants to make Africa great, I have to now apply for 35 different visas on my passport, and I told Mr President that I really don’t have the time to go and be dropping my passport at embassies to get a visa,” he stated.

    Noting that foreign businesspeople frequently have easier access, he emphasised the difference in treatment between African nationals and foreigners. “I can assure you Patrick [Pouyanné, CEO of Total Energies] doesn’t need 35 visas… You don’t need 35 visas on a French passport, which means you have free movement than myself in Africa,” Dangote added, highlighting the bias in the visa system that favours non-Africans over Africans.

    An important gathering that promotes business development through the sharing of knowledge and experiences is the Africa CEO Forum, which unites institutions, international investors, and African leaders. The main obstacle still stands to be visa restrictions, even with its goal of streamlining business operations throughout the continent.

    Presently, only five African nations—the Seychelles, Gambia, Benin, Kenya, and Rwanda—permit visitors from other African countries to enter freely. With Ghana’s recent addition to this list, there has been a minor but notable advancement in intra-African mobility.

    Dangote’s comments highlight how more African nations must enact laws that make it simpler for people to travel for business, as doing so could greatly accelerate regional integration and economic growth. Resolving these visa issues is still a top priority for policymakers as Africa looks to the continent for more development and investment.

  • Dangote regains title of Africa’s richest from Rupert on Forbes Africa’s billionaire list

    Dangote regains title of Africa’s richest from Rupert on Forbes Africa’s billionaire list

    In Forbes’ Africa billionaire list, Dangote unseats Rupert as the richest person in Africa.

    • Based on Forbes Real-Time Billionaires ranking, Aliko Dangote is once again the richest man in Africa.
    • Alhaji Aliko Dangote, a Nigerian, was previously surpassed by South African business tycoon Johann Rupert to hold the title of wealthiest person in Africa.

    At the time of this report, Aliko Dangote’s net worth had grown from $9.5 billion on January 3 to $10.4 billion.
    Over the period under review, he overtook Johann Rupert and his family, whose net worth dropped from $10.3 billion to $10.0 billion.

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    In early 2024, Business Insider released a list of the top 10 richest people in Africa. The list showed that Johann Rupert, a South African business magnate, had surpassed Aliko Dangote of Nigeria to take the top spot.

    According to the Forbes Daily Billionaires ranking platform, which tracks daily variations in the global elites’ net worth, Aliko Dangote’s net worth grew from $9.5 billion on January 3 to $10.4 billion at the time of writing.

    Over the period under review, he overtook Johann Rupert and his family, whose net worth dropped from $10.3 billion to $10.0 billion.

    Rupert is ranked 198th globally, and Dangote, the CEO of the Dangote Group, is currently ranked 190th on the Forbes list.

    Similarly, Dangote is ranked as the richest person in Africa by the Bloomberg Billionaires Index.

    Aliko Dangote made history last year when he became the first African billionaire on a list primarily composed of billionaires from Asia and Europe by rising to the ninth rank on the Forbes list of the world’s richest manufacturing billionaires.

    Dangote Industries, a conglomerate with its headquarters located in Lagos, Nigeria, is the foundation of Dangote’s financial empire. The majority of the 66-year-old billionaire’s wealth, according to Bloomberg, came from his 86% ownership in Dangote Cement, which is a publicly traded company.

    His impact is felt in industries like packaged foods, sugar, salt, fertiliser, and the newly opened $20 billion petroleum refinery, which is currently Africa’s biggest.

    Dangote declared last year that he intended to list his refinery, Dangote Petroleum Refinery, on the Nigerian Exchange Limited.