In a powerful nod to his leadership in Africa’s industrial rise, Aliko Dangote, President and Chief Executive of the Dangote Group, has been appointed to the World Bank’s prestigious Private Sector Investment Lab. Joining a circle of the world’s most influential business leaders, Dangote is tasked with spearheading efforts to drive investment and job creation across emerging economies.
Confirming his acceptance, Dangote reaffirmed his passion for sustainable economic development through private-sector leadership, emphasizing the critical role strategic investment plays in transforming nations.
“I am both honoured and excited to join the World Bank’s Private Sector Investment Lab, which is dedicated to advancing investment and employment in emerging economies,” Dangote said.
“This appointment resonates deeply with my lifelong mission: to unlock the vast potential of developing economies. Inspired by the phenomenal rise of the Asian Tigers—who harnessed strategic investment and bold policies to spark economic miracles—I look forward to working alongside other global leaders to ignite similar success stories around the world.”
Founded by Aliko Dangote, the Dangote Group stands as West Africa’s largest conglomerate and one of the most influential business empires across Africa. With expansive interests in cement, fertiliser, salt, sugar, and oil, the Group employs over 30,000 people, holds the record as Nigeria’s largest taxpayer, and ranks as the country’s biggest employer after the government itself.
At the heart of this empire lies the $20 billion Dangote Petroleum Refinery & Petrochemicals—the single largest private investment in Africa—symbolizing a new era of industrial ambition on the continent.
Beyond business, Dangote’s philanthropic leadership through the Aliko Dangote Foundation (ADF) is equally formidable. With the largest endowment ever made by an African donor, the Foundation champions causes from child nutrition to health, education, women’s empowerment, and emergency relief across sub-Saharan Africa.
The World Bank’s announcement on Wednesday marks a new chapter for its Private Sector Investment Lab, which has expanded its membership to scale up practical solutions for unlocking private capital in the developing world.
Dangote now joins an illustrious group that includes Bill Anderson, CEO of Bayer AG; Sunil Bharti Mittal, Chair of Bharti Enterprises; and Mark Hoplamazian, President and CEO of Hyatt Hotels Corporation.
“This isn’t about altruism—it’s about enabling private sector investments that deliver real returns while lifting people and economies alike. It’s central to our mission,” said Ajay Banga, World Bank Group President.
He added that the expansion directly ties the Bank’s strategy to a sharpened jobs agenda, crucial for global development in today’s economic climate.
Over the past 18 months, the Investment Lab has worked with global financial leaders to identify and dismantle barriers to private sector activity in developing economies. This work has now crystallized into five strategic priority areas—including enhancing regulatory and policy certainty—designed to integrate seamlessly into World Bank operations.
The Lab’s founding members boast senior executives from institutions like AXA, BlackRock, HSBC, Macquarie, Mitsubishi UFJ Financial Group, Ninety One, Ping An Group, Royal Philips, Standard Bank, Standard Chartered, Sustainable Energy for All, Tata Sons, Temasek, and Three Cairns Group. Chaired by Shriti Vadera, Chair of Prudential plc, the Lab continues to embody the World Bank’s commitment to bold, private sector-driven solutions for a more inclusive global economy.
As Dangote steps into this influential role, his proven track record offers a beacon of hope—that targeted investments, guided by vision and leadership, can reimagine the future for billions in emerging markets.
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