Nigerian commodities titan Aliko Dangote is also Africa’s cement king. In February, Dangote announced the opening of a new $1 billion Nigerian cement plant, which is expected to increase his company’s production volume by 40% in that country. Dangote Cement’s capacity is so great that the company has implored the Nigerian government to increase infrastructure investment in time to absorb what they’re calling a “cement surplus.” In late 2010, Dangote listed the company on the Nigerian Stock Exchange, integrating his cement investments across Africa. It’s now the largest company on the Nigerian exchange. He also invested $4 billion to build a new cement facility in the Ivory Coast and is building a $115 million cement plant in Cameroon, plus owns plants in Zambia, Senegal, Tanzania and South Africa. Dangote started trading commodities more than three decades ago after receiving a business loan from his uncle. He then built the Dangote Group, which in addition to cement owns sugar refineries, flour milling and salt processing facilities. Venerable philanthropist has given away millions to education, health and social causes, not least among them being a gift of more than $600 to each person displaced by the violence following Nigeria’s elections.
Author: Chief Editor
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