In 2021, Aliko Dangote is the richest man in Africa. He has a net worth of 11.7 billion U.S. dollars and ranks 183 worldwide. The Nigerian is the founder and chairman of Dangote Cement, the largest cement producer on the whole African continent, and also the owner of salt and sugar manufacturing companies.
How did Aliko Dangote become the richest man in Africa?
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, Dangote Cement Group reported quarterly revenues of 284.6 billion Nigerian nairas, approximately US$720 million.
Sawiris follows as the second-richest person in Africa. The Sawiris family in Egypt owns Orascom Construction PLC, a multinational corporation operating in the construction and cement industry.
Below is the updated list of the top twenty richest men in Africa, surprisingly, the richest East African comes from Tanzania in position fifteen.
Content created and supplied by: odhiambojr (via Opera News )
Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform See More