5:56 am - Friday January 24, 2020

Breaking New Ground worldwide! ALIKO DANGOTE, Africa’s Richest Man ready to open American Office…becomes $4.3 billion richer in 2019 *Found huge office space in New York, to employ eligible candidates soon *Remains owner of Biggest Cement Factory in sub-Saharan Africa *Set to complete a $12 billion, 650,000 barrel-a-day refinery currently under construction in Nigeria * 62-year old Nigerian is 95th Richest person in the world * Dangote Group of companies account for over a fifth of the value of the Nigerian stock exchange BY GEORGE ELIJAH OTUMU/AMERICAN Foreign Bureau Chief


Breaking New Ground worldwide!

ALIKO DANGOTE, Africa’s Richest Man ready to open American Office…becomes $4.3 billion richer in 2019

*Found huge office space in New York, to employ eligible candidates soon

*Remains owner of Biggest Cement Factory in sub-Saharan Africa

*Set to complete a $12 billion, 650,000 barrel-a-day refinery currently under construction in Nigeria

* 62-year old Nigerian is 95th Richest person in the world

* Dangote Group of companies account for over a fifth of the value of the Nigerian stock exchange

BY GEORGE ELIJAH OTUMU/AMERICAN Foreign Bureau Chief

HE’S A STORY OF SUCCESS, ACHIEVEMENT AND HUGE INSPIRATION TO AFRICANS ACROSS THE WORLD. At 62-year old, ALIKO DANGOTE is still Africa’s richest man alive, having become $4.3billion richer in 2019 business period. In a bid to make his chains of companies global, Dangote has concluded plans to open a New York office space in United States of America.

Breaking new ground, this Africa’s richest man plans to take office space in New York to help diversify his investments and avoid the risk of currency fluctuations on his home continent. The owner of the biggest cement company in sub-Saharan Africa will use the base and an existing one in London to become more global after the completion of a $12 billion, 650,000 barrel-a-day refinery currently under construction in Nigeria.

“In Africa, you know we have issues of devaluation, so we want to really preserve some of the family’s wealth,” Dangote told Bloomberg TV’s David Rubenstein Show.

The 62-year-old Nigerian businessman became $4.3 billion richer in 2019 as his fortune continued to grow on the back of investments in cement, flour and sugar. With a net worth of about $15 billion, he is ranked the 95th wealthiest man in the world, according to the Bloomberg Billionaires Index.

For the records, his conglomerate, Dangote Industries, includes the Lagos-listed Dangote Cement Plc and four other publicly traded companies under the Dangote umbrella that account for more than a fifth of the value of the Nigerian stock exchange.

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