Dangote Honoured by World Bank Appointment

Aliko Dangote, Africa’s richest man and President of the Dangote Group

|Published 1:25 PM ET, Friday April 25, 2025|

Abuja, April 25, 2025 — Aliko Dangote, Africa’s richest man and President of the Dangote Group, has expressed gratitude following his appointment to the World Bank’s Private Sector Investment Lab. The initiative, launched to boost private investment and job creation in emerging economies, brings together leading global business figures.

“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,” Dangote said in a statement.

The Private Sector Investment Lab was established in June 2023 under the leadership of World Bank President Ajay Banga. The Lab is tasked with identifying and addressing key barriers to private sector investment in developing regions, focusing on areas such as regulatory certainty, political risk insurance, foreign exchange risk management, junior equity capital access, and securitization.

Dangote joins a distinguished group that includes Bayer CEO Bill Anderson, Bharti Enterprises Chairman Sunil Bharti Mittal, and Hyatt Hotels President Mark Hoplamazian. Together, these leaders bring expertise across critical sectors including infrastructure, agriculture, healthcare, tourism, and manufacturing.

Dangote’s appointment aligns with his long-standing advocacy for sustainable development and economic empowerment across Africa. Drawing inspiration from the rapid growth seen in the Asian Tigers, Dangote emphasized his commitment to fostering similar success stories within African and other emerging markets.

The World Bank’s expansion of the Lab’s membership reflects its strategic shift toward stronger private-sector partnerships to address global development challenges. “This is about helping the private sector see a path to investments that deliver returns while lifting people and economies,” World Bank President Banga said.

Through his leadership of the Dangote Group—the largest conglomerate in West Africa—and his philanthropic efforts via the Aliko Dangote Foundation, Dangote has made significant contributions to economic development and humanitarian causes in the region. His group’s flagship project, the $20 billion Dangote Petroleum Refinery & Petrochemicals, stands as Africa’s largest single private investment.

Dangote’s involvement in the World Bank’s initiative is expected to significantly advance the mission of catalyzing investment-led job creation and sustainable growth across emerging economies.