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Africa’s richest man and President of the Dangote Group, Aliko Dangote, has said his greatest ambition is not to accumulate wealth but to leave a lasting legacy by helping to industrialise Africa.
Dangote made the remarks during an interview with James Dumoulin, founder of the School of Hard Knocks platform, where he spoke about his business journey, wealth, legacy and the future of Africa’s economy.
Asked how he would like to be remembered, the Nigerian billionaire said: “I have actually passed the stage of just doing business to make money. I want to leave a legacy. I want to be remembered as somebody who has industrialised Africa.”
The businessman, whose investments span cement, sugar, salt, fertiliser and petroleum refining, said creating industries that transform economies and generate jobs across the continent matters more to him than his position on global rich lists.
Dangote also suggested that current estimates of his wealth do not fully reflect the value of his business empire because some of the group’s largest assets are yet to be publicly listed. Responding to a question about his net worth, he said: “What are they saying? I don’t really look at those things. They say I’m worth $38 billion, but most of our businesses are not listed yet.”
He added: “It will come out soon.”
His comments come amid growing expectations that the Dangote Petroleum Refinery and other major assets could eventually be listed on the stock market, a move analysts believe could significantly increase the market value of the group.
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Making a strong case for investment on the continent, Dangote described Africa as the world’s next major growth destination. According to him, the continent’s youthful population presents enormous opportunities for economic expansion.
“The real future is Africa,” he said, noting that about 70 per cent of Africans are under the age of 30 and that the continent’s population is projected to reach 2.5 billion by 2050.
Dangote also revealed that his companies generated about $10 billion in revenue during the first quarter of the year, highlighting the scale of operations across the group’s various businesses.
On his faith, the industrialist reaffirmed his belief in God, saying: “If I look at myself, I know that God is real.”
According to recent estimates, Dangote’s wealth stands at about $31.6 billion on Forbes’ Real-Time Billionaires List and roughly $36.5 billion on the Bloomberg Billionaires Index. However, the eventual listing of key assets such as the refinery and fertiliser business could further reshape perceptions of his fortune.
For Dangote, however, wealth appears secondary to impact. As Africa seeks greater industrial capacity and economic independence, he says his focus remains on building industries that will outlive him and help drive the continent’s development for generations to come.
