Dangote: One of World’s Greatest Leaders – Fortune

• Dangote: One of World’s Greatest Leaders – Fortune

Aliko Dangote, the richest black man alive, has just been listed as one of the world’s greatest leaders in 2019.

The billionaire is the only African on the list and ranked 11th position among several other leaders.

The rating done by American multinational business magazine, Fortune, stated that the leaders were selected based on their contribution to the world and how well they inspire others to do so in government, business and philanthropy and the arts.

“Great leaders never know for sure if their plans will work, but they plunge ahead anyway. That’s why we recognize sheer audacity, well-intended, even if the results aren’t known and even if the plans aren’t universally applauded … These thinkers, speakers, and doers make bold choices and take big risks- and move others to do the same,” the magazine said.

While this is the first time Fortune magazine will include Dangote in its annual ranking, the publication attributed his inclusion to his huge risk on Nigeria’s economy. Dangote owns the most capitalised company, Dangote Cement, on the Nigerian Stock Exchange market, and presently building one of the world’s biggest refinery project, estimated at about $17 billion.

Earlier this year, Dangote wealth jumped by 58 percent or $6.08 billion to $16.6 billion on Forbes list following the addition of its almost completed fertiliser project to his total net worth.

Dangote Group, according to Aliko Dangote, will generate about $30 billion in revenue annually once the refinery becomes operational.

“Ten years ago, if you mentioned to me or even if I actually saw it in a dream that our company would have revenue of $30bn, I would have said it was impossible,” Dangote stated during Africa Investment Forum in South Africa last year.

“But today, by 2020, we will have $30bn of revenue. Why? Because we have gone into a very bold product and while people are running away from investing, we are investing.”

The fertiliser section has already employed 26,000 people and estimated to employ a total of 80,000 upon completion, according to the billionaire himself.

These are some of the impacts taken into consideration by the magazine.

“Dangote is now converting his wealth into impactful philanthropy: Dangote’s foundation – the largest in Africa – (and) has helped establish a top-tier business school at Nigeria’s Bayero University” the magazine explained, saying Dangote Group is presently collaborating with the Bill & Melinda Gates Foundation to fight chronic malnutrition in Nigeria.