ALIKO DANGOTE,THE RICHEST MAN IN AFRICA: HOW HE MAKES AND SPENDS HIS MONEY

Aliko Dangote is humble, unassuming  and simple.

The multibillionaire and richest man in Africa and the 25^th richest man in the world, according to Forbes rating, is worth a fortune of $30 billion.

The president chief and executive of Dangote group, the largest private industrial concern in Africa has a propelling passion  to give back to Nigeria and Africa by providing employment opportunities and paying taxes to the government.

The Dangote group multinational employs more than 200,000 citizens across the African continent.

Aliko, does not only make money in tons, he also ploughs back his profit to the society.

Therefore, Aliko is not only the richest man in Africa, he is also arguably, the most philanthropic and charitable son of Africa.every year, Aliko gives out billions of dollars to charitable organizations, institutions and cooperatives, through the Aliko Dangote foundation.

So, how did he start? How did he make his money? Aliko began his journey into business very early in life precisely, at age 21. A scion of the famous Dangote business family Aliko was born on April 10, 1957 to Mohammed Dangote. In 1978, he took his first independent business step by buying and reselling cement with a N500,000 loan from his grand-father and business mentor, Sanusi Dantata.this was after some years of apprenticeship under him, in commodity trading business.

With the huge fortune he amassed from trading in cement, Aliko moved into importation of the commodity. From cement, he moved into the importation of sugar,rice, fish, and salt.

The huge profit he was making from his importation did not satisfy him. The business mogul, wanted to add value to the business and create more jobs and wealth for the people of Nigeria, and Africa as a whole.

So he started buying into companies he felt were not doing well and re-position them. One of such companies was the Nigeria textile mills, where he acquired a controlling share in 1993.

Today, the Dangote group, has grown from a trading company into a multibillion dollars conglomerate, with investments in Nigeria, Benin republic, Zambia, Cameroon, Togo, Ghana, and south Africa and still expanding.

The portfolio of his business covers virtually all strategic sectors of the world economy: manufacturing, transportation, finance and banking, oil and gas, telecommunications, food and beverages, real estate. Aliko Dangote has always believed in uplifting the living standards of mankind. To achieve this objective, he established the Dangote foundation. The foundation which was established in 1993 has been silently involved in humanitarian interventions every year across the African continent.

It has provided water and health facilities for communities. It has also provided grants to individuals, and groups for health, education, economic development projects.

The more he gives, the more his business empire expands.Aliko Dangote has endowed the Dangote foundation with $1.2 billion. The gift to the foundation will be funded out of his personal  fortune as the CEO of Dangote group.

The foundation has reached northern states of Nigeria through interventions. It plans to reach south east, south west and south-south states very soon. In addition, the N10 billion Dangote foundation/bank of industry micro, small and medium enterprises fund stimulates economic growth and wealth creation.