Aliko Dangote, President of the Dangote Group, has expressed deep gratitude for his appointment to the World Bank’s Private Sector Investment Lab. The body is responsible for generating sustainable private investment and job creation in emerging markets. Speaking on his selection, the Nigerian billionaire described it as both an honour and a strategic fit for his long-standing mission of championing economic transformation across developing nations.
“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.
Dangote also highlighted the inspiration he draws from the economic evolution of the Asian Tigers, noting that their focused investment strategies could serve as a model for African economies. “This opportunity aligns with my long-standing commitment to sustainable development and unlocking the potential of developing economies,” he added.
Global Business Heavyweights to Join Dangote
Dangote is not alone in this mission. The expanded Lab now includes other global business leaders such as Bill Anderson, CEO of Bayer AG; Sunil Bharti Mittal, Chair of Bharti Enterprises; and Mark Hoplamazian, President and CEO of Hyatt Hotels Corporation. The new phase of the Lab seeks to accelerate real-world solutions for attracting private capital into the Global South, particularly in regions often overlooked by mainstream investors.
World Bank Group President, Ajay Banga, stressed that the initiative is built on measurable outcomes, not mere goodwill. “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,” he said.
Over the past 18 months, the Lab has convened top voices from financial institutions to understand the hurdles limiting private sector growth in developing countries. The result is a roadmap centred on five priority areas, including regulatory clarity and policy consistency—factors deemed essential to encouraging foreign investment.
Dangote Group’s Economic Footprint Continues to Expand
Founded by Dangote, the Dangote Group stands as the largest industrial conglomerate in West Africa and among the largest in Africa. With operations in cement, fertiliser, sugar, salt, and petroleum, the group employs over 30,000 people and remains Nigeria’s top taxpayer—surpassing even the banking sector.
Its flagship $20 billion Dangote Petroleum Refinery & Petrochemicals project is the largest single private investment on the continent, promising to reshape energy access and industrial capacity across Nigeria and beyond.
Beyond business, Dangote’s influence extends through the Aliko Dangote Foundation, the largest private foundation in sub-Saharan Africa. With a major endowment from Dangote himself, the foundation is primarily focused on child nutrition, and also supports education, health, and disaster response efforts.
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