Aliko Dangote Dangote Group Industry: Manufacturing
No list will be complete without Africa’s richest man, Alhaji Aliko Dangote who is arguably the most popular and successful CEO on the continent. He is unarguably the king of Nigeria manufacturing industry, and perhaps Africa. His company Dangote group, which he started with a business loan from his maternal uncle has grown to be one of the continent’s leading diversified business empires with interests in cement, sugar, flour, salt, pasta, beverages and real estate, and new projects in the oil and Natural gas sector, telecommunications, fertilizer and steel with annual earnings averaging $2 billion. Today, Dangote Group is worth more than $11 billion, comprising a third of Nigeria’s Stock Exchange. The company cement business (Dangote Cement) which spans about 24 African countries is the company’s greatest asset and it has helped to push Nigeria to the fore-front in cement manufacturing, establishing it as the largest cement manufacturer in sub-Saharan Africa as well as the third-largest cement maker in the broader Middle East. According to Renaissance Capital research, Dangote Cement, owned by Africa’s richest man Aliko Dangote, was the major force behind the country’s cement success story. Also, his company was listed among Africa’s top 10 most valuable brands in 2013 by African Business Magazine. Dangote group was also named the most valuable brand in the consumer goods sector with an African brand value and overall 8th most valuable brand when placed against brands from other sectors. In the coming year, Dangote Group plan to invest $16 billion in infrastructural projects in the energy, agriculture and construction sectors in what is likely to be the largest private investment ever in the continent. Dangote plans to double its cement output in Africa to 55 million metric tons by 2015 and to double its sugar refining capacity to 2.75 million tons by 2017. Industry watchers have predicted that Dangote Group will grow by about 30 percent next year if the investment goes according to its plan.