Saturday, 9 March 2013
DANGOTE - A NAME ABOVE OTHER BRANDS
Alhaji Aliko Dangote is a Nigerian self-made business magnate with an estimated net worth of $16.1 Billion as of March 2013...Dangote has expanded into countries like Benin, South Africa, Ghana, Zambia and Cameroon.
Today, Dangote Group dominates the sugar market in Nigeria and Dangote Sugar Refinery is the main supplier (70% of the market) to the country's soft drinks companies, breweries and confectioners. It is the largest refinery in Africa and the third largest in the world producing 800,000 tonnes of sugar annually.
Dangote Group also owns salt factories and flour mills and is a major importer of rice, fish, pasta, cement and fertilizer. The company also exports cotton, cashew nuts, cocoa, sesame seed and ginger to several countries. Dangote Group also has major investments in real estate, banking, transport, textiles and oil and gas. It employs over 11,000 people and is the largest industrial conglomerate in West Africa.
Dangote retains his position as Africa’s richest man for the third year in a row. The past year has been eventful for him. In October, he sold off a controlling stake in his flour milling company to Tiger Brands of South Africa. He pocketed $190 million in cash. In February, his Dangote Sugar Refineries acquired a 95 per cent stake in Nigerian sugar producer Savannah Sugar in a bid to maintain its dominant position in the Nigerian sugar industry.
Dangote stepped up his philanthropy in the past year, giving over $100 million to causes ranging from education to health, flood relief, poverty alleviation and the arts. He also acquired a yacht, which he named after his mother Amiya.