D no 1 forbes list richest man in africa gave out how he turn his capitals to billions on a natural thinking
Who is Aliko Dangote?
Aliko Dangote is a business magnate, whose business acumen and aggressiveness send fear into the mind of competitors. He is the richest man in Africa, the richest man in Nigeria and the richest black person in the world. This humble billionaire currently sits atop one of Africa’s largest conglomerate, the Dangote Group he would probably have been on my list of the richest school drop out billionaires in the world.uncle, Sani Dantata that he found his passion and began developing his business skills. After developing his business skills and building his confidence, he got a lot a loan of N500,000 (approximately $3,500 today).
Aliko Dangote started business by trading in commodities such as sugar, rice, salt, pasta, cotton, millet, vegetable oil, cocoa and textile. In the course of running his business, he developed strong business ethics and principles. One of Aliko Dangote’s business strategies for succeeding in the commodity market was to develop a strong distribution network and make the delivery of his goods faster than that of his competitors.
After gaining a strong hold on the commodities market, Aliko Dangote ventured into manufacturing and producing the same commodities he was importing. In an interview granted to a journalist by this billionaire, he stated that leaping from importation to manufacturing was his greatest business move.
Since he moved into manufacturing, Aliko Dangote has never looked back. His company (Dangote Group) controls over 13 other companies with most of them acquired through strategic mergers and acquisitions. In celebration of his 50th birthday anniversary in 2007, he commissioned a one billion dollar factory (Obajana Cement Factory), which happens to be the largest cement factory in Africa.
Today, his group is made up of:
- Dangote Sugar Refinery (one of the most capitalized stocks on the Nigerian stock exchange),
- Dangote Flour Mills (sold majority of his shares to Tiger Brands)
- Dangote sacks
- Dansa Foods
- Dangote transport
- Obajana Cement (Africa’s largest cement factory)
- National Salt Company Of Nigeria (NASCON)
- Benue Cement Company Plc
- the Bachita Sugar Company
- Dangote Cement
- Blue Star Shipping
- Blue Star Investment and so on.
- Just recently, he boosted his philanthropic activities with the launch of his foundation (Dangote Foundation).
Business brain....to bad drop out
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