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Africa’s Richest #1 Aliko Dangote

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Heralded by some as the face of the new Nigeria, Aliko Dangote, Africa’s richest man, is looking beyond cement, sugar and flour — the three commodities that built his fortune — to the oil business. In April 2014 he announced $9 billion in financing from a consortium of local and international lenders to construct a private oil refinery and fertilizer and petrochemical complex in the country. In August he said he would invest $1 billion in commercial rice farming and modern rice mills. His publicly traded Dangote Cement is also grabbing new markets in Africa, with $750 million in new plants planned for Kenya and Niger. He made his first fortune more than three decades ago when he started trading commodities with a loan from his powerful uncle.


Aliko Dangote on Forbes Lists

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