Dangote shares timeless business principle

on   /   in News 7:34 pm   /   Comments

By Abiodun Alade

The richest man in Africa and 23rd in the world, Alhaji Aliko Dangote has shared his timeless business principle. It is a principle he learnt from his grandfather, which has helped grow his business and make him the richest black man on earth with an estimated net worth of $25 billion as of March 2014.

He shared the principle on his twitter handle @AlikoDangote, few days ago;

“My grandfather once told me; ‘the soul of business is not making money but making people happy”

Dangote-timeHe is the owner of the Dangote Group, which has interests in commodities with operations in Nigeria and several other countries in Africa, including Benin, Cameroon, Togo, Ghana, South Africa and Zambia

Dangote Group with its dominance in the sugar market and refinery business is the main supplier (70% of the market) to the Nigerias 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.

Apart from these, Dangote Group owns salt factories and flour mills and is a major importer of rice, fish, pasta, cement and fertilizer. The company exports cotton, cashew nuts, cocoa, sesame seed and ginger to several countries. It also has major investments in real estate, banking, transport, textiles and oil and gas. The company employs over 11,000 people and is the largest industrial conglomerate in the whole of West Africa.

    Print       Email