Africa’s richest man Aliko Dangote’s group says $19-billion oil refinery is 97-percent complete
The refinery project has been long hampered by a number of factors.
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The refinery project has been long hampered by a number of factors.
The Obajana Cement Factory opened in 2008.
His net worth plunged from $19.1 billion at the start of the month to $18.7 billion.
Dangote is presently not only the richest man in Africa, but also the richest Black man in the world.
Dangote Sugar is a subsidiary of Dangote Industries Limited.
The decline in his net worth can be attributed to the fall in the share price of Dangote Cement.
Dangote derives the majority of his wealth from his 86-percent stake in Dangote Cement.
The project is back on track after being hampered by several issues.
Dangote founded Dangote Sugar Refinery in the 1970s.
Zambian Commerce and Industry Minister Chipoka Mulenga made the declaration over the weekend.
Dangote was chosen due to his track record and passion for supporting public health issues.
Dangote Cement is 86-percent owned by Dangote and ranks as Africa’s largest cement producer.
Among them are Africa’s richest man Aliko Dangote and Egypt’s wealthiest man Nassef Sawiris.
Dangote’s net worth has dropped from nearly $20 billion to just $19 billion in the past 24 hours.
The billionaires have both played an important role in the country’s economic growth.
The group’s profit decreased by more than 10 percent in the first half of 2022.