The Richest Man In Africa

May 23, 2015

Who is the richest man in Africa? This has been one of the hot topics in modern finances and business today. Africa, the second largest and second most populated country in the world has plethora of resources. With several hidden aspects like gold and silver mines, Africa is also the home to some of the most expensive diamonds in the world while several countries have a lot of prospects in the field of information technology (IT).

Despite the Africa continent having some of the world’s most poorest nation in the world, there are prospects of development in every fields. With the rise in technology and ever increasing ideas of business, entrepreneurship and ventures, Africa is also home to some of the richest people in the world. Together with this, there are new faces in the Forbes list of billionaires every year and there might be a day when Africa will rise up as the home of multi-millionaires and billionaires in the near future.

Yes, with a net worth of $17.9 billion, Aliko Dangote is not only the first billionaire of Nigeria but also the richest black person in the world. The richest man in Africa, Aliko Dangote is placed as the 23rd richest person in the world by Forbes.

Richest Man in Africa- Aliko Dangote, Net Worth: $17.9 million

Aliko Dangote

Aliko Dangote comes from one of the wealthiest families in Africa and has a degree in business. The founder of Dangote Group, his business ventures run in Nigeria and in several other parts of West Africa. Running Africa’s largest cement manufacturer, he is also called a new face in Nigeria as his company provides employment to over 26,000 employees in the country.

Dangote started his career as a businessman at the age of 21 taking a loan from his uncle. He started several industries related to sugar, salt processing, flour milling, cement manufacturing, textiles, oils and gases, haulage and real estate. The Dangote group rose to fame soon and with several plants in countries like Ethiopia, South Africa, Senegal, Cameroon, Zambia and the Republic of Congo, he also made plans to expand his business to countries like Iraq and Burma.

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Mr. Dangote plans to sell a 20 percent interest in his cement business on the London Stock Exchange by the end of 2014, pricing it at a value of $35 billion to $40 billion. If he succeeds, his company will be the world’s most valuable cement producer.

The richest man in Africa, Aliko Dangote valued just 20 percent his business to around $40 billion and sold it to London Stock Exchange. His company then became the world’s most valuable cement producer. His company also dominates the sugar market in the continent while several drinks, breweries and confectioners are distributed to several parts of the continent.

Nigeria does not produce refined oils for which he made plans to build a oil refinery facility and he spent over $8 billion on it to refine over 45,000 barrels of petroleum per day. The African person of the year 2014, Aliko Dangote also has keen interest in football and is supposed to buy stakes of Arsenal, a Premier League club playing in England.

From being a man of nowhere to the richest man in the world and new face of Nigeria, Aliko Dangote donated $1 million to halt the spread of Ebola. He has also contributed to uplifting the educational and health standard in Nigeria and in Africa.

Thus, the richest man in Africa, the first billionaire of Nigeria, and the richest black person in the world, Aliko Dangote’s net worth is estimated to be $17.9 billion.