Dangote Accepts World Bank Appointment

The President and Chief Executive of Dangote Group, Aliko Dangote, has officially accepted an appointment to the World Bank’s Private Sector Investment Lab, joining a distinguished team of global business leaders committed to driving investment and job creation in developing economies.

The Private Sector Investment Lab was launched to accelerate sustainable investment and economic transformation, particularly in emerging markets. Its primary objective is to develop strategic solutions that attract private capital, fostering growth and reducing unemployment.

In a statement confirming his acceptance, Dangote expressed enthusiasm for the initiative, emphasizing that it aligns with his lifelong commitment to economic development through private-sector-led investments. He stated, “I am honored and excited to join the World Bank’s Private Sector Investment Lab, dedicated to advancing investment and employment in emerging economies.”

Dangote further highlighted the economic success of the Asian Tigers, citing their strategic investment policies as a model for developing regions. He stated that by fostering a strong private-sector-driven economy, emerging markets could unlock significant growth potential.

Dangote will be working alongside other influential global business leaders, including Bill Anderson, CEO of Bayer AG; Sunil Bharti Mittal, Chair of Bharti Enterprises; and Mark Hoplamazian, President and CEO of Hyatt Hotels Corporation.

World Bank Group President, Ajay Banga, emphasized that the expanded Investment Lab is not merely a philanthropic effort but a strategic approach to enabling profitable investments in developing economies. He stated, “This isn’t about altruism—it’s about showing the private sector viable paths for investment that generate returns while lifting economies and improving lives.”

Over the last 18 months, the Lab has engaged leading global financial institutions to identify major barriers hindering private-sector investment in developing nations. The initiative has now consolidated its efforts into five priority areas that will be integrated into the World Bank’s core operations, including regulatory and policy certainty.

Founded by Aliko Dangote, the Dangote Group is the largest conglomerate in West Africa and a significant player across the African continent. The company has interests in cement, fertilizer, salt, sugar, and oil and gas. Employing over 30,000 people, the Group is also Nigeria’s largest taxpayer, contributing more in taxes than all of Nigeria’s banks combined.

The $20 billion Dangote Petroleum Refinery & Petrochemicals, the Group’s flagship project, stands as the largest private investment in Africa, demonstrating its commitment to industrialization and economic sustainability.

Beyond his business empire, Dangote leads the Aliko Dangote Foundation, the largest private foundation in sub-Saharan Africa, with significant philanthropic investments in child nutrition, healthcare, education, empowerment, and disaster relief.