Africa’s richest man, Aliko Dangote, has officially joined the World Bank’s Private Sector Investment Lab. The billionaire businessman will work alongside global leaders to boost investment and job creation in emerging economies.
The World Bank announced Dangote’s appointment on Wednesday, expanding the Lab’s membership to include top business figures.
The initiative aims to attract private capital and create jobs in developing countries.
Dangote said he was accepting the role with gratitude. “I am both honoured and excited to accept my appointment to the World Bank’s Private Sector Investment Lab, dedicated to advancing investment and employment in emerging economies,” he said.
He added that the opportunity aligns with his commitment to sustainable development. “Drawing inspiration from the remarkable successes of the Asian Tigers, I am eager to collaborate with fellow leaders to replicate such outcomes across other regions,” he stated.
Who Else Is on the Team?
Dangote joins an elite group of business leaders, including Bill Anderson, CEO of Bayer AG; Sunil Bharti Mittal, Chair of Bharti Enterprises; and Mark Hoplamazian, President and CEO of Hyatt Hotels Corporation.
World Bank Group President Ajay Banga explained the importance of the initiative.
“This isn’t about altruism—it’s about helping the private sector see a path to investments that will deliver returns and lift people and economies alike. It’s central to our mandate,” he said.
Dangote’s Business Empire
Dangote Group, founded by Aliko Dangote, is the largest conglomerate in West Africa. It operates in cement, fertiliser, salt, sugar, and oil, employing over 30,000 people.
The company is Nigeria’s biggest taxpayer and second-largest employer after the government.
The Group’s flagship project, the $20 billion Dangote Petroleum Refinery & Petrochemicals, is the largest single private investment in Africa.
Beyond business, Dangote leads the Aliko Dangote Foundation, the biggest private foundation in sub-Saharan Africa. The foundation focuses on child nutrition, health, education, empowerment, and disaster relief.
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