Africa’s richest billionaire Aliko Dangote to raise $750 million to complete $19-billion refinery plant
The refinery project is still on track to be completed by 2023.
Skip to content
The refinery project is still on track to be completed by 2023.
Dangote derives the majority of his net worth from his 86-percent stake in Dangote Cement.
His 86-percent stake in Dangote Cement is valued at $10.3 billion.
Dangote began the year as the 97th richest man in the world.
His year-to-date wealth gains are now $1.33 billion.
Musk remains the world’s richest man, with a $261-billion net worth.
The wealth gains solidify his position as not only Africa’s richest man but also the world’s richest Black man.
Dangote Cement is Africa’s largest cement producer, producing 51.55 million tonnes per year across 10 countries.
Dangote’s net worth surpassed the $20-billion valuation in the first three months of 2021.
Dangote Cement is Africa’s largest cement producer.
Dangote Cement is Africa’s largest cement producer, with a production capacity of 51.55 million tonnes per year.
Dangote, the continent’s wealthiest man, has seen his net worth dip below $20 billion in recent times.
The surge in his net worth represents the largest wealth gain by an African billionaire since January.
The issuance reflects Dangote Cement’s continued interest in engaging fixed-income investors.
Dangote Cement recently listed three tranches of N50-billion bonds on the Nigerian Exchange.
Shares in the leading cement manufacturer have been on the rise since June 1.