Aliko Dangote

THE JOURNEY INTO SUCCESS OF THE AFRICA’S RICHEST ENTREPRENOR : ALIKO DANGOTE

Rodrigue Behiguim
















Shannon Luomarantha – Univ 0003 EL

University Preparation Program

05/26/2014

Over the years, different personality has emerged from the African continent and between them,

Aliko Dangote gained an uncommon respect within his country, in Africa and around the world.

The Nigerian entrepreneur founded a conglomerate which goes from Nigeria to several other

countries in Africa : The Dangote Group. Started at the age of 21 with a loan, he is now, “30

tortuous years later” as he describe it himself, the wealthier black businessman in the world. His

journey through success show that it is possible to create wealth in the region by other means

than exploiting natural resources. The Nigerian businessman is also invested in philanthropic

activities to fight against poverty, provide better education and improve the health and

environment sector.

Aliko is coming from an old merchant family in Kano (Northern Nigeria) which was into

exporting kola and ground nuts. After getting his degree in business studies and administration at

Al Azhar University in Egypt, he started with $3,000 loan from his uncle. Even if Dangote’s

family had influence and power, the young Nigerian businessman took the way of independence.

Since his early age, Aliko was interested in business. He explained that in primary school, he

would buy cartoon of sweets with his friends and selling them to make money. Turning this

$3,000 into the billions of today is what make his genius.

With his uncle loan, Dangote started as Trader of cement In 1977, Nigeria was making a lot of

money with the oil profits and this money was invested into making construction. Those projects

helps Dangote to boost his trading commerce. Around 6 months, he was able to to pay back the \

loan he made even if it was originally set up for three or four years. At the same time,

his uncle also made a huge money with a contract from  Murtala Mohammed government wich

requested to decongest the Nigerian seaports. Walking around with his uncle from business to

business allow to learned a lot. From 1977 to 1980,the Nigerian businessman remain in the

cement industry where he was making around N 1,350 to N1,400 per day. A Volkswagen beetle

was at that time being sold for N900.

Dangote amassed one billion US dollars in three decades. His journey is composed with a lot of

different  opportunity, luck, god’s providence and of course hardwork. Under the Shagari

regime, there was a lots  of  importation of essential commodities and products. Dangote’s

company, then named Alco Company was one of the major importers at that thime. In the other

side, he supplied huge tonnage of cement to the governments for different construction and

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