Btlsblog Latest News & Gossip
The wealthiest African and black person in the world, Aliko Dangote is a Nigerian businessman. Bloomberg pegs his net worth at $19.0 billion, compared to Forbes’ estimate of $12.7 billion.
After receiving his first degree, he asked his uncle for a $3000 loan so he could begin importing and selling agricultural items in Nigeria. This was the beginning of his commercial life. He traded in Brazilian and Thai textiles, sugar, rice, pasta, salt, cotton, millet, cocoa, and vegetable oil.
His company took off right away, and three months later he had paid back the debt from his uncle. He entered the cement business in 1973, purchasing truckloads and profitably reselling them to others.
He later started selling sugar, rice, and other goods before returning to the cement business with a factory. Within the first year, he went from having no market share in Nigeria to controlling around 45 percent of the market.
His cement factory’s success encouraged him to begin producing some of the goods he had been importing or purchasing from third parties. He constructed a facility and began producing flour, pasta, sugar, and salt in 1997.
Today, he serves as chairman of the empire Dangote Group, which includes all of his businesses. The company has about 30,000 employees in Nigeria and other countries in Africa. Dangote Cement Plc, Dangote Sugar Refinery Plc, and Dangote Flour Mills Plc are some of the companies that make up the Dangote Group.
