THE RICHEST MAN IN AFRICA ALIKO DANGOTE
How Aliko Dangote Became the Richest African At the age of 21, Aliko Dangote borrowed $3,000 from his uncle in order to import and sell agricultural commodities in Nigeria, his native country. His business venture quickly became a success, and as a result, he managed to repay the entire loan within three months of starting operations. Today, Dangote is the wealthiest man living in the African continent with an estimated net worth of $17 billion. The business empire that he began to build more than three decades ago, Dangote Group, is one of the largest private-sector employers in Nigeria as well as the most valuable conglomerate in West Africa. Dangote's business interest encompass many industries, including oil and gas, consumer goods and manufacturing. About 80% of his conglomerate's revenue comes from Dangote Cements, which is expected to realize a 40% increase in profits this year. According to Forbes magazine, the subsidiary supplies 53% of the cement market in Niger...