Alhaji Aliko Dangote, MFR, GCON (born 10 April 1957, Kano, Nigeria) is a business magnate in Nigeria. who owns the Dangote Group, which has interests in commodities. The company operates in Nigeria and several other countries in Africa, including Benin, Cameroon, Togo, Ghana, South Africa and Zambia. As of March 2014, he had an estimated net worth of $25 billion USD .
Dangote is ranked by Forbes Magazine as the 23rd richest person in the world and the richest man in Africa. He surpassed Saudi-Ethiopian billionaire Mohammed Hussein Al Amoudi in 2013 by over $2.6 billion to become the world's richest black man. Dangote was born into a wealthy Muslim family. From the time he was young Dangote had an eye on business. He said, "I can remember when I was in primary school, I would go and buy cartons of sweets [sugar boxes] and I would start selling them just to make money. He studied business at the Al-Azhar University in Cairo, Egypt and thereafter returned to Nigeria to borrow from his uncle Sanusi Abdulkadir Dantata, who provided him a loan of ₦500,000 (Naira, NGN) when Aliko was 21 years old, in order to start a business. The Dangote Group was established as a small trading firm in 1977. Today, it is a multi-trillion naira conglomerate with many of its operations in Benin, Ghana, Nigeria, and Togo. At present, Dangote has enlarged his line of businesses to also cover food processing, cement manufacturing, and freight. The Dangote Group also dominates the sugar market in Nigeria and is a major sugar supplier to the country's soft drink companies, breweries, and confectioners.
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