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Forbes 2023 Index: Dangote Still Africa’s Richest for 12th Consecutive Year  

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Dangote reacts to EFCC’s visit to its Headquarters

Forbes 2023 Index: Dangote Still Africa’s Richest for 12th Consecutive Year  

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…Listed among world’s top 200 richest persons

 

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For the 12th year consecutively, Aliko Dangote, President of the pan-African Conglomerate, the Dangote Group has emerged the richest man in Africa, despite economic headwinds that affected the fortunes of half of the world’s reported billionaires.

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Dangote, whose business flagship, Dangote Cement Plc is the largest producer of cement in Africa, is the only Nigerian in the list of first 200 richest men in the world with an estimated net worth of $14.2 billion, up from last year’s $12.1 billion.

 

 

 

Forbes 2023 Index: Dangote Still Africa's Richest for 12th Consecutive Year  

 

Forbes, in its latest ranking of world billionaires for 2023 reported that falling stocks, wounded unicorns and rising interest rates translated into a down year for the world’s wealthiest people.

Dangote, presently ranked 124th among the world’s richest billionaires, is the only Nigerian in the top 200 world billionaires and one of the two Africans within that bracket; with South Africa’s Johann Rupert, who deals in luxury goods ranked 157th with a net worth of $11.1 billion.

The Africa’s richest man founded and chairs Dangote Cement, the continent’s largest cement producer. Dangote Cement has production capacity of 51.6 million tonnes per year across ten countries in Sub-Saharan Africa, with integrated factories in seven countries, a clinker grinding plant in Cameroon, and import and distribution facilities in Ghana and Sierra Leone.

Dangote also owns stakes in publicly traded Dangote Salt (NASCON) and Dangote Sugar manufacturing companies. His Dangote Petroleum Refinery, touted to be the world’s largest single-train refinery, was recently commissioned and is expected to process 650,000 bpd of petroleum for domestic consumption and export; in what experts have described as a game changer in the oil and gas sector.

The foremost philanthropist had earlier been rated 11th of the 50 World’ Greatest men and women of all time by the Fortune Magazine, an American multinational business magazine which premised the ranking of the world’s greatest mainly on the businesses run by the men and how they have used it to impact their society positively.

The time-tested magazine, which first edition was published in February 1930, said the world’s greatest men and women are transforming the world and inspiring others to do so in business, government, philanthropy and the arts. “These thinkers, speakers, and doers make bold choices and take big risks- and move others to do the same”, the magazine declared.

Specifically, Dangote earned nomination after being adjudged as having used his business to acquire wealth and is now converting his wealth into impactful philanthropy through his Aliko Dangote Foundation.

The top 10 greatest men and women, according to Fortune Magazine are: Bill and Melinda Gates, Jacinda Ardem, Robert Mueller, Pony Ma, Satya Nadella, Greta Thunberg, Margrethe Vestager, Anna Nimiriano, Jose Andres, and Dough Mcmillon and Lisa Woods.

The ranking of Dangote as one of the greatest business leaders had attracted comments by eminent persons around the world who described him as worthy of the nomination going by his business acumen and philanthropic gestures.

On the billionaires ranking for 2023, Forbes, the global media company said nearly half the world richest list are poorer than a year ago, including Elon Musk with net worth of $180b, falling from No. 1 to No. 2 after his pricey acquisition of Twitter helped sink Tesla, his multinational automotive and clean energy company.

Benard Arnault, the 74-year old French, who is the head of luxury goods giant LVMH, was ranked number one richest man in the world with a net worth of $211b, the very first time a France national will top the list.

Forbes reported that the party is over for many of the world’s richest people. For the second straight year, both the number of billionaires around the globe has declined from 2,668 in 2022 to 2,640 in 2023 and total billionaire wealth has dropped, too – down by $500 billion, to $12.2 trillion – as turbulent times have hit both public and private markets.

Nearly half the planet’s billionaires are poorer than they were a year ago. A total of 254 people have lost their billionaire status altogether yet others recorded gains.

Overall, the United States still boasts the most billionaires, with 735 list members worth a collective $4.5 trillion. China (including Hong Kong and Macau) remains second, with 562 billionaires worth $2 trillion, followed by India, with 169 billionaires worth $675 billion. To calculate net worths, Forbes used stock prices and exchange rates from March 10, 2023.

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AltClub Changes Travel Experience At Lagos Airport

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AltClub Changes Travel Experience At Lagos Airport

AltClub Changes Travel Experience At Lagos Airport

 

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Travelers at Murtala Muhammed Airport Terminal 2 (MMA2) can now enjoy a new level of comfort and convenience with the launch of Altclub by The Alternative Bank.

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AltClub Changes Travel Experience At Lagos Airport

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The innovative premium space offers a luxurious retreat where passengers can relax and recharge before their flights, while also catering to their basic banking needs.

Altclub, an arm of The Alternative Bank’s digital travel financing product, Alttravel, is dedicated to enhancing travel accessibility and ease for Nigerians.

Alttravel operates a “Travel Now, Pay Later” system, eliminating the need for upfront payments and offering maximum flexibility. With zero initial deposit and impressively low mark-up rates over a flexible six-month tenor, travelers can achieve their travel goals with financial peace of mind.

Mohammed Yunusa, Director of Digital Business and Innovations at The Alternative Bank, highlighted the significance of Altclub at the launch event. “Altclub isn’t just a lounge; it’s a sanctuary of comfort and convenience,” Yunusa stated. “Gone are the days of sacrificing relaxation for travel formalities. Our lounge offers a luxurious space where travelers can unwind and rejuvenate before their flights, free from the typical travel stress.”

In addition to offering a tranquil environment for relaxation, Altclub provides a range of amenities to cater to travelers’ needs, including refreshments, high-speed Wi-Fi, and charging stations for electronic devices. Yunusa added that Concierge services are also available to assist with travel arrangements, ensuring guests have everything they need for a comfortable journey.

Joining Yunusa in addressing the guests, Korede Demola-Adeniyi, Executive Director of Sales at The Alternative Bank, elaborated on the lounge’s accessibility. ”

Altclub is exclusively available to The Alternative Bank customers, showcasing our commitment to their comfort and convenience. Present your boarding pass and proof of Altbank membership at the entrance, and our dedicated staff will ensure a seamless and enjoyable pre-flight experience.”

Korede emphasised the unique opportunity for travelers to plan their next trip directly from the lounge. “Through Alttravel, our digital travel financing product, customers can explore various destinations and book flights with flexible financing options. Altclub provides a convenient platform for travelers to access financing and make their travel aspirations a reality, reinforcing our dedication to enhancing the travel experience for our valued customers.”

Altclub is committed to offering an inclusive and welcoming environment for all travelers, whether on business or a leisure getaway.

The grand opening of Altclub on May 22, 2024, was attended by prominent figures from the travel industry and local dignitaries, highlighting the importance of this milestone in enhancing the travel experience for passengers at MMA2 Airport.

About The Alternative Bank:
The Alternative Bank commenced its journey in January 2014 with a vision to create a dynamic banking experience that respects individuality and speaks the language of its customers. In July 2023, the Central Bank of Nigeria issued a Banking License to The Alternative Bank, enabling it to operate as a fully-fledged, standalone bank. Guided by its Advisory Committee of Experts (ACE), The Alternative Bank ensures all its operations align with the ethics of Non-Interest Banking.

//Ends

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PCRC Decorates Aare Adetola Emmanuelking and Wife Yeye Aderonke as Golden Grand National Patron/Matron, Marks 40th Anniversary

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PCRC Decorates Aare Adetola Emmanuelking and Wife Yeye Aderonke as Golden Grand National Patron/Matron, Marks 40th Anniversary

The Police Community Relations Committee (PCRC) has decorated Aare Adetola Emmanuelking, Chairman/CEO of Adron Homes, and his wife, Yeye Aderonke Emmanuelking, as the Golden Grand National Patron and Grand National Matron for women and youth committees of PCRC in Nigeria and diaspora. This prestigious honor was bestowed upon them during the PCRC’s 40th anniversary celebration, held in Lagos.

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The ceremony, which took place in Lagos, was attended by National PCRC chairman, Alhaji Mogaji Ibrahim-Olaniyan and other members of the committee, dignitaries, community leaders, and members of the Nigerian Police Force. The PCRC’s decision to honor the Emmanuelkings highlights their unwavering commitment to community development and their substantial support for initiatives aimed at enhancing public safety and fostering cooperation between law enforcement and the communities they serve.

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PCRC Decorates Aare Adetola Emmanuelking and Wife Yeye Aderonke as Golden Grand National Patron/Matron, Marks 40th Anniversary

 

In his acceptance speech, Aare Adetola Emmanuelking expressed his profound gratitude for the recognition, stating, “This honor is not just for me and my wife but for every Nigerian who believes in the power of community and the importance of working together with our police force to create a safer and more harmonious society.”

In her reaction to the honor, Yeye Aderonke Emmanuelking emphasized the role of women and families in fostering community spirit and resilience. She noted, “Our communities thrive when we all play our part. As National Grand Patrons, we are committed to promoting initiatives that bring the police and the people closer together, ensuring mutual trust and cooperation.”

It will be recalled that the PCRC, established in 1984, by the then IGP, Etim Inyang has played a crucial role in bridging the gap between the Nigerian Police Force and local communities. Over the past four decades, the committee has launched numerous programs aimed at improving communication, trust, and mutual respect. This 40th-anniversary celebration not only commemorated the PCRC’s achievements but also set the stage for future endeavors to strengthen community policing.

The National PCRC chairman, Alhaji Mogaji Ibrahim-Olaniyan, praised the Emmanuelkings for their exceptional support and dedication. He remarked, “The Emmanuelkings have shown exemplary commitment to the ideals of the PCRC. Their leadership and philanthropic efforts have significantly contributed to the enhancement of community policing in Nigeria. Their new roles as National Grand Patrons will undoubtedly inspire further progress in our collective efforts to maintain peace and security.”

The chairman further stated that the decoration of Aare Adetola Emmanuelking and Yeye Aderonke Emmanuelking as National Grand Patrons stands as a testament to the power of community partnership and the enduring impact of dedicated civic leadership.

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Economic hardship: Dangote Foundation distributes rice to host communities …shares 40,000 bags in Ogun

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Economic hardship: Dangote Foundation distributes rice to host communities

…shares 40,000 bags in Ogun

 

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The Aliko Dangote Foundation (ADF)’s N15 billion National Food Intervention programme has landed in Yewa land as the Foundation commenced distribution of 40,000 bags of rice in Ogun state.

Yesterday, the 17 host communities of the Dangote Cement, Ibese plant, along with Itori, Igbogila, and Ilaro, received their share. Beneficiaries in Ibese and Araromi were accredited and received one bag each at the palace of Aboro of Ibeseland, Oba Rotimi Mulero.

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Ijebu-Igbo, the host communities to Dangote Granite Mines will soon receive their allocation as the rice for the area has been delivered in preparation for distribution.

Chairman of ADF and President of Dangote Group, Aliko Dangote, launched the food intervention programme in Kano in March, promising that the Foundation will distribute over one million 10kg bags across the 774 local government areas of the 36 states and Federal Capital Territory, FCT in Nigeria at a cost of about N15 billion.

The Aboro of Ibeseland expressed gratitude on behalf of his communities to the Foundation for its benevolence in distributing rice at this time of economic challenge, saying the gesture would benefit many households where staple food like rice has become scarce.

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He likened Dangote’s initiative to Operation Feed the Nation (OFN), introduced by the military government of Chief Olusegun Obasanjo over 46 years ago to revitalize agriculture and ensure food availability for all Nigerians.

Oba Mulero stated, “we are grateful to Alhaji Aliko Dangote. The rice gift is very impressive given the current situation in the country. We really appreciate him. What he has done can be likened to Operation Feed the Nation of those days. That is what I will call it. He has done well to decide to feed the people. Everybody is vulnerable now in this country.”

He continued, “What Alhaji Dangote is doing is worthy of emulation by other well-meaning Nigerians. When food is out of the problem equation, the equation is easy to solve. We are using this opportunity to thank him for this gesture. You can see the way my people are happily receiving it. We pray to God to continue to uplift him.”

The Aboro of Ibese commended Dangote for his job creation efforts through investments. He said the rice distribution to the people of Ibese is like the icing on the cake as the Cement Plant sited in the community has absorbed some of the host communities’ indigenes and that the food palliative would go a long way to cushion the effect of the economic hardship.

He pledged the support of the people to the Dangote Cement, Ibese plant to ensure the company operates in an atmosphere of peace and tranquillity so that the company can continue to benefit the host communities.

One of the beneficiaries, Odunfa Ayodele Adams, an indigene of Ibese on behalf of others expressed appreciation to the ADF. He said it was the first time such a programme would be brought to the Ibese community and prayed to God to give Alhaji Dangote long life to do more for the society.

It would be recalled that Alhaji Dangote while speaking during the flag-off ceremony of the programme explained that the initiative is a crucial step towards alleviating the ongoing economic challenges faced by the country.

He also emphasized the importance of compassion and generosity, stressing that all stakeholders must play a part in supporting the government to alleviate hunger in the land.

“Our distribution of rice symbolizes our commitment to upholding the values of compassion and solidarity, which are at the core of our humanity. ADF has decided to spearhead the food intervention programme,” he said.

On the modalities for distribution of the rice, Dangote said: “the modalities for the programme involve collaboration with state and local governments as well as local community partners to ensure effective delivery of the rice to the most vulnerable across the country, regardless of state, tribe, gender, religion, politics, or other attributes, “he added.

In her own remark then, the Chief Executive Officer of the ADF, Zouera Youssoufou said the rice distribution is in addition to the Foundation’s daily bread relief programme, that is producing and distributing over 32,000 family-size loaves of bread across Kano and Lagos States every day since 2020 following the outbreak of COVID-19 pandemic.

She said: “It is noteworthy that Dangote’s efforts in nutrition strengthening in Nigeria extend well beyond the foundation’s food relief programmes and nutrition activities. The Dangote Group has been actively investing in food fortification across the Nigerian food industry, with its iodized salt, vitamin A fortified sugar, while researches are on-going into micronutrient fortification of staples like rice, wheat, and bouillon cubes”.

Economic hardship: Dangote Foundation distributes rice to host communities
…shares 40,000 bags in Ogun

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