Africa’s richest man and Nigerian industrialist, Aliko Dangote, has expressed deep appreciation following his recent appointment to a key advisory position with the World Bank. The billionaire entrepreneur described the honour as a major milestone, not only for himself but for Africa as a whole, pledging to use the platform to advance economic development and social progress across the continent.
Dangote was appointed to the World Bank Group’s Private Sector Investment Lab, a high-level advisory body established to help accelerate investment in developing countries. The initiative focuses on enhancing private capital mobilization to address pressing global challenges such as poverty, infrastructure gaps, food insecurity, and climate change.
In a statement released following the announcement, Dangote said he was humbled by the opportunity to serve on the prestigious platform alongside other global leaders and economic experts. He emphasized his commitment to advocating for policies that drive inclusive growth and sustainable development, particularly in Africa.
“I am truly honoured by this appointment and grateful for the opportunity to contribute to the World Bank Group’s efforts to unlock private investment in regions where it is most needed,” Dangote stated. “This is a responsibility I take seriously, as it aligns perfectly with my lifelong mission to support Africa’s transformation through industrialization, innovation, and infrastructure development.”
Dangote, who leads the Dangote Group—a multinational conglomerate with interests in cement, sugar, salt, and petrochemicals—is widely respected for his strategic investments and philanthropic work across Africa. His business ventures have created tens of thousands of jobs and significantly contributed to the economic fortunes of Nigeria and other African countries.
The World Bank’s Private Sector Investment Lab is composed of globally influential business leaders, policymakers, and financial experts. The group is expected to provide practical recommendations on how to de-risk investments in emerging markets and promote stronger collaboration between the public and private sectors.
The World Bank noted that Dangote’s vast experience in navigating complex business environments in Africa would bring valuable insight to the advisory body. His track record in large-scale industrial projects, such as the Dangote Refinery and Dangote Cement’s cross-border expansion, demonstrates a clear understanding of both the challenges and opportunities in developing economies.
World Bank President Ajay Banga welcomed Dangote’s appointment, highlighting the importance of mobilizing private capital to support development goals. “We are pleased to welcome Aliko Dangote to the Investment Lab. His expertise and leadership will be instrumental in designing innovative solutions to drive investment where it’s needed most,” Banga said.
The initiative comes at a time when developing countries, particularly in sub-Saharan Africa, are grappling with rising debt burdens, sluggish economic growth, and the lingering effects of global crises such as the COVID-19 pandemic and geopolitical tensions. There is an urgent need for private investment to fill the gaps in infrastructure, healthcare, agriculture, and energy.
Dangote stressed that unlocking Africa’s economic potential requires bold thinking and collaborative efforts. He called on African leaders, development institutions, and private investors to work in synergy to create an enabling environment for business and innovation.
“Now is the time for Africa to take its rightful place in the global economy. With our abundant resources, youthful population, and entrepreneurial spirit, we can achieve inclusive growth and prosperity. But this will require strategic partnerships, long-term investments, and a shared vision for development,” he said.
Reactions to Dangote’s appointment have been largely positive, with many industry stakeholders and public figures praising the move as a recognition of Africa’s growing influence in global economic discourse. Business analysts have described the appointment as a “testament to Dangote’s impact on industrialization and investment in Africa.”
The Nigerian government also congratulated Dangote on the appointment, with officials expressing confidence that he would represent the country and the continent with distinction. The Ministry of Industry, Trade, and Investment noted that the recognition reinforces Nigeria’s position as a key player in international economic development.
Dangote’s participation in the World Bank’s Investment Lab is expected to contribute to shaping policies and initiatives that will directly affect millions of lives across the globe. By providing input on how to attract sustainable private investments, he aims to drive solutions that will enhance job creation, reduce poverty, and foster inclusive economic growth.
As Africa seeks to chart a new course in a rapidly changing global economy, the presence of voices like Dangote’s at the highest levels of international economic decision-making offers a beacon of hope for transformative progress. His involvement promises to bring African perspectives to the forefront and ensure that the continent’s unique challenges and opportunities are adequately addressed.
