Africa’s richest man Aliko Dangote’s sugar firm to raise $69.56 million via commercial paper
With banks offering limited options, companies like Dangote Sugar are turning to the fixed-income market for alternative financing.
Aliko Dangote
Nigeria to end petrol imports by June, says Africa’s richest man Aliko Dangote
Dangote said Nigeria could halt premium motor spirit (PMS), or petrol, imports by next month thanks to the Dangote Oil Refinery.
Africa’s richest man Aliko Dangote’s refinery prepares for exports, targets Brazil and other African countries
Speaking at the Africa CEO Forum in Kigali, Rwanda, Dangote detailed the refinery’s ability to produce a wide range of refined products, including gasoline, diesel, and aviation fuel.
Refinery of Africa’s richest billionaire Aliko Dangote to buy 24 million barrels of U.S. crude
Boasting the world’s largest single-train capacity (650,000 barrels per day), the Dangote Oil Refinery aims to wean Nigeria off its reliance on imported fuels.
Nigeria’s naira woes hit billionaires as Africa’s richest man loses $8.6 billion
Dangote, Africa’s richest man and Nigeria’s wealthiest individual, has seen his fortune plummet by $8.6 billion since Jan. 30.
Africa’s richest man Aliko Dangote donates 10,000 rice bags to needy in Anambra
The move adds to the foundation’s recent efforts to alleviate economic hardships and address critical social issues in Nigeria.
Africa’s richest man loses $2.6 billion amid naira’s descent as worst-performing currency
The decline follows a brief uptick in April fueled by the Central Bank of Nigeria’s (CBN) efforts to address a backlog of dollar obligations, which strengthened the naira.
Africa’s richest man Aliko Dangote’s sugar firm aims to end sugar imports by 2028
Dangote highlighted the importance of the government’s national backward integration policy, which aims to create a self-sufficient domestic sugar industry by incentivizing local producers.
Sugar business of Africa’s richest man records nearly $50-million loss in Q1 2024
Dangote Sugar’s $49.6-million first-quarter 2024 loss stemmed primarily from a $74-million foreign exchange loss from the group’s business operations.
Salt company of Africa’s richest man registers $17-million revenue in Q1 2024
As the majority owner of NASCON, Dangote’s stake in the salt and seasoning processing company is worth over $74 million.
Dangote’s half-brother Sayyu Dantata’s MRS tops $60 million in revenue in Q1 2024
Revenue for the first three months of 2024 climbed to N79.16 billion ($62.6 million), up from N30.78 billion ($23.83 million) in the prior-year period.
Africa’s richest man boosts regional growth with seven clinker vessels to Ghana, Cameroon
In the first quarter of 2024, Dangote Cement’s Nigerian operations shipped a total of 178,000 tonnes of clinker to Cameroon and Ghana.
Cement company of Africa’s richest man doubles revenue to $659.3 million in Q1 2024
Group revenue from cement, clinker, and other products surged 100 percent year-over-year, reaching N817.35 billion ($659.3 million).
Marketers anticipate Africa’s richest man Aliko Dangote to slash diesel price to less than $0.7 per liter
The Independent Petroleum Marketers Association of Nigeria (IPMAN) expects the Dangote refinery to reduce diesel prices further.
Africa’s richest man Aliko Dangote’s refinery ramps up production with U.S. crude
The recent decision to ramp up operations, follows Dangote Refinery’s move to slash diesel prices in Nigeria, marking a substantial decrease from previous rates.
Africa’s richest person Aliko Dangote’s refinery slashes diesel prices in Nigeria
The recent price cut follows the commencement of operations at the Dangote Oil Refinery, a landmark achievement for Nigeria’s pursuit of energy independence.