The Richest Man in Africa: Aliko Dangote’s Net Worth 2020

Africa is neither the most developed nor the smallest continent in the world; so there are always the black patches but Africa hosts some globally recognized individuals, who are not regular celebrities but business icons, role models and internationally recognized leaders. Among these icons and leaders, who have undoubtedly made not just a name for themselves but a fortune, there would always be one that leads the rest. When wealth is the judging factor, who exactly is Africa’s representative?

Aliko Dangote is a Nigerian who is not only the richest man in Africa, but regarded as the richest black skinned man in the world. He is the CEO and chairman of the Dangote Group, a business conglomerate that spreads across the larger parts of Africa. He hails from Kano state, a very popular state in Northern Nigeria and he is related to Alhaji Alhassan Dantata, who was the richest person in West Africa as at the time of his death in 1955.

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Dangote Group has interests in the production and distribution of Agricultural goods, and commodities. The company is responsible for the production of around 80% of daily consumables like Sugar, Flour, and some other agricultural raw materials. The company’s cement production plant is the largest in West Africa, producing over 25,000 metric tons of cement annually and distributed across Africa. As a matter of fact, Dangote cement is the most used cement in Africa, and among the top 20 most used cement brand in the world. He also has the third largest sugar refinery in the world with over 800,000 tons produced annually. Dangote sugar is the choice for top brands that has sugar in the list of their ingredients, making him the main supplier to the country’s giant soft drinks companies, breweries and confectioners, supplying around 70% of the market.

The Dangote Group which began in 1977, has gone on to become a multi trillion naira business conglomerate with its tentacles spreading across countries like Togo, Benin, Ghana, of course Nigeria, and many other African countries. The billionaire is known to prefer indigenous investments over foreign investments and he confirmed it in 2009 when on an interview, he said “Let me tell you this and I want to really emphasize it. Nothing is going to help Nigeria like Nigerians bringing back their money. If you give me $5 billion today, I will invest everything here in Nigeria. Let us put our heads together and work.”

He just recently launched his tomato paste manufacturing plant in Kano and plans to make it the preferred tomato paste instead of other brands that are being imported into the country. Some of the products that have Dangote stamped on them include spaghetti, instant noodles, salt, sugar, flour, macaroni, rice, tomato paste, cement, all of which are manufactured, distributed and sold in huge quantities daily. The billionaire who once stated his interest to purchase Arsenal FC, a top flight club in England has already not only reiterated his desire to invest in the telecommunication sector but has already began building a 14,000 kilometre of fibre optic cables to serve the whole Nigeria as he plans to launch something in the telecommunications sector.

Aliko Dangote’s Net Worth 2020

The richest man in Africa, who is a philanthropist and a father of three girls, is currently worth a mammoth $21.6 Billion as at 2020.

Kindly leave your comments below if you think otherwise as regards Dangote’s net worth for 2020.

1 Comment

  1. @ oddB, if this is indeed his business
    model than he is only very smart doing
    what major companies outside Nigeria
    have done which is probably why he is
    the richest in Africa , driving cost low is
    what has made Wal- Mart the household
    name it is today. some people may have
    problems with this business model but I
    don’ t, I tell people you are upset that
    Wal- Mart is kicking you out of business ,
    then why don’ t you be competitive like
    Wal- Mart , if you were there before Wal-
    Mart or in this case Dangote and they
    were still able to run you out then you
    were doing something wrong and if you
    were came after the competition and did
    not do your research on how to beat
    them then again that’ s on you .
    As for buying into vendors it is a
    worldwide phenomenon NOT especially
    Nigeria , how do you think the Great
    Value brand came about ? I worked for a
    big oil and gas service company and
    buying into vendors waS the order of the
    day because to stay competitive, you
    need to constantly look for ways to
    lower cost of production , supplying e . t. c
    if not the next person who jumps on the
    scene will drive you out of business
    before you can say Jack . Let us use
    being a makeup artist as an example , I
    started out as a makeup artist , charging
    20 k for bridal makeup, my next door
    neighbor sees my business is running
    successfully and decides she wants in
    but charges 15 k , if I don’ t look for ways
    to keep lowering my cost of service
    there will come a point when I will no
    longer be able to lower my cost and still
    remain profitable hence get chased out
    of business due to competition because
    people in most cases will go for the
    cheaper option . Buying into vendors not
    only translates to cheaper cost of
    production but it means that although
    money is changing hands it is ultimately
    all coming to 1 pocket.
    Enough business lesson for today or add us on danakellysuppler@gmail.com or +2348106618681

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