Aliko Dangote, the president of the Pan-African Conglomerate, Dangote Group, has once again been ranked as the richest man in Africa for the 12th consecutive year, according to Forbes magazine.
Dangote Cement Plc, his business flagship, is the largest producer of cement in Africa.
With an estimated net worth of $14.2 billion, Dangote is the only Nigerian to be listed among the top 200 richest individuals in the world. This represents an increase from last year’s net worth of $12.1 billion.
In June, South African Johann Rupert briefly held the title of Africa’s richest man with a net worth of $12 billion, according to Forbes.
However, Dangote reclaimed the top spot in the latest Forbes ranking.
Dangote Cement, founded and chaired by Aliko Dangote, has a production capacity of 51.6 million tonnes per year across ten countries in Sub-Saharan Africa.
The company operates integrated factories in seven countries, a clinker grinding plant in Cameroon, and import and distribution facilities in Ghana and Sierra Leone.
Despite the challenges faced by the world’s wealthiest people, including falling stocks and rising interest rates, Dangote remains a prominent figure in the global billionaire rankings.
He is currently ranked 124th among the world’s richest billionaires.
As Africa’s richest man, Aliko Dangote continues to make significant contributions to the business landscape in Africa and beyond, solidifying his position as a key player in the continent’s economic development.