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Mpmania Mix 39

Mpmania Mix 39

Aliko Dangote is 24th Richest Man on Earth with $26.4b to His Name

Aliko Dangote (Ceo Dangote Group)

Aliko Dangote (Ceo Dangote Group)


Africa’s richest man is looking beyond cement, sugar and flour–the three commodities that built his fortune–to the oil business. In April, he announced $9 billion in financing from a consortium of local and international lenders to construct a private oil refinery, fertilizer and petrochemical complex in the country. 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.

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