Dangote Group

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Dangote Group
Private
Industry Conglomerate
Founded 1981
Founder Aliko Dangote
Headquarters Lagos, Lagos State, Nigeria
Key people
Products
Services
  • Logistics
  • Real Estate
Revenue Increase US$2.642 billion (2012)
Profit Increase US$1.029 billion (2012)
Number of employees
26,000
Subsidiaries
Website dangote-group.com
Footnotes / references
[1]

The Dangote Group is a Nigerian multinational industrial conglomerate, founded by Aliko Dangote.[2] It is the largest conglomerate in West Africa and one of the largest on the African continent. It generated revenue in excess of US$3 billion in 2015. The group is one of the leading diversified business conglomerates in Africa, and employs more than 26,000 people.[2]

Overview[edit]

The company was founded by Aliko Dangote after receiving a $3,000 loan from an uncle.[2] Initially, the company focused on the bulk sale of foods such as rice, but gradually expanded to shipping and the importing of cement.[2] Dangote competed (and competes) with Lafarge, a French company that imported and produced the bulk of African cement.[3]

Today, Dangote Group is a diversified conglomerate, headquartered in Lagos, with interests across a range of sectors in Africa.[4][5] Current interests include cement, sugar, flour, salt, pasta, beverages and real estate, with new projects in development in the oil and natural gas, telecommunications, fertilizer and steel.[3][6][4][7] Competitors in both Nigeria and other portions of Africa include Stallion Group.[8]

Subsidiary companies[edit]

Dangote Cement, the largest cement production company in Africa, with a market capitalization of almost US$14 billion on the Nigeria Stock Exchange, has subsidiaries in Benin, Cameroon, Ghana, Nigeria, South Africa and Zambia.[9] In December 2010, the group signed an agreement with the Government of Zambia to construct a US$400 million cement plant in Zambia. Once completed in June 2013, as anticipated, the new plant is expected to have an annual output of 1.5 million metric tonnes of cement.[10]

Dangote Sugar is another major subsidiary of Dangote, competing with Bua Refinery Ltd. and Golden Sugar Co.[3] Dangote Sugar is the largest sugar refining company in sub-Saharan Africa.[11]

See also[edit]

References[edit]

  1. ^ "Group Corporate Profile" (PDF). Dangote Group Nig. 
  2. ^ a b c d Okeowo, Alexis (7 March 2013). "Africa's Richest Man, Aliko Dangote, Is Just Getting Started". Bloomberg. Retrieved 25 October 2016. 
  3. ^ a b c Akingbade, Akinkunmi (29 September 2016). "As things stand, Nigeria will not achieve its 2023 sugar self-sufficiency plan". Ventures Africa. Retrieved 25 October 2016. 
  4. ^ a b Nsehe, Mfonobong (2 April 2015). "Africa's Richest Man Aliko Dangote Enters Joint Venture With Italian Giant Saipem". Forbes. Retrieved 25 October 2016. 
  5. ^ Nsehe, Mfonobong (4 September 2016). "Africa's Richest Man Aliko Dangote To Invest $170 Million In Rice, Sugar Production In Nasarawa". Forbes. Retrieved 25 October 2016. 
  6. ^ Hirsch, Afua (3 April 2012). "Africa's richest man is cementing his place in history". The Guardian. Retrieved 25 October 2016. 
  7. ^ Dangote Group Ventures Into Fertilizer
  8. ^ Saritha, Rai (23 September 2015). "Dubai-Based Billionaire Vaswani's Stallion Group Wants To Dominate Nigeria And All Of West Africa". Forbes. Retrieved 25 October 2016. 
  9. ^ Dangote Group's Cement Operations Span Six African Countries
  10. ^ The Zambian Cement plant has started its operations.Nigerian Tycoon To Invest $400 Million In Zambia Cement Plant
  11. ^ Ochelle, Felicia Omari (9 November 2015). "Dangote Sugar has a new Managing Director". Ventures Africa. Retrieved 25 October 2016. 

External links[edit]