How Aliko Dangote Became the Richest
Person in Africa?!!
For the ninth time in a row, Aliko Dangote was named the
richest man in Africa in 2020, with an estimated net worth of
$10. 7 billion.Dangote's business interests encompass many industries,
including oil and gas, consumer goods, and manufacturing.
However, Dangote Cement makes up the majority of the
conglomerate's revenue, of which Dangote owns 85%.
According to Forbes magazine, the subsidiary produces 45.6
million metric tons of cement every year and operates in 10
African countries.
Dangote also owns the world's third-largest sugar refinery,
and together, all of his publicly traded companies make up a
quarter of the market capitalization of the Nigerian Stock
Exchange.
As of Nov. 6, 2020. Dangote Cement Group reported
quarterly revenues of 284.6 billion Nigerian nairas,
approximately US$720 million.