Aliko Dangote, President and Chief Executive of the Dangote Group.

World Bank Appoints Aliko Dangote To Global Investment Leadership Group

BY ABU-SATAR HAMED

LAGOS, NIGERIA – The President and Chief Executive of the Dangote Group, Aliko Dangote, has been appointed to the World Bank’s Private Sector Investment Lab, an elite body comprising select global business leaders.

As a member of this influential group, Dangote will work alongside other international executives to drive investment and foster job creation in emerging markets – key objectives aimed at accelerating economic development.

In a statement confirming his acceptance of the role, the African industrialist reaffirmed his dedication to promoting sustainable economic growth through private sector-led initiatives.

He emphasized the transformative potential of targeted investments in developing regions.

“I am both honoured and excited to accept my appointment to the World Bank’s Private Sector Investment Lab, dedicated to advancing investment and employment in emerging economies.

“This opportunity aligns with my long-standing commitment to sustainable development and unlocking the potential of developing economies. Drawing inspiration from the remarkable successes of the Asian Tigers, which have demonstrated the power of strategic investment and focused economic policy, I am eager to collaborate with fellow leaders to replicate such outcomes across other regions”, Dangote said.

The Dangote Group, founded by Aliko Dangote, is the largest conglomerate in West Africa and one of the largest on the African continent. With interests spanning cement, fertiliser, salt, sugar, and oil, the Group employs over 30,000 people and is the largest taxpayer in Nigeria – contributing more in taxes than all of Nigeria’s banks combined. It is also the country’s largest employer after the government.

The $20 billion Dangote Petroleum Refinery & Petrochemicals, the Group’s flagship project, stands as the largest single private investment in Africa.

In addition to his business interests, Dangote leads the Aliko Dangote Foundation (ADF), the largest private foundation in sub-Saharan Africa, with the largest endowment by a single African donor. The Foundation primarily focuses on child nutrition, while also supporting interventions in health, education, empowerment, and disaster relief.

The World Bank announced Dangote’s appointment on Wednesday, April 23, 2025 as part of a broader expansion of its Private Sector Investment Lab, which now enters a new phase aimed at scaling up solutions to attract private capital and create jobs in the developing world.

Joining Dangote in the elite group are Bill Anderson, CEO of Bayer AG; Sunil Bharti Mittal, Chair of Bharti Enterprises; and Mark Hoplamazian, President and CEO of Hyatt Hotels Corporation.

The World Bank said the expanded membership brings together business leaders with proven track records in generating employment in developing economies – supporting the Bank’s sharpened focus on job creation as a central pillar of global development.

“With the expanded membership, we are mainstreaming this work across our operations and tying it directly to the jobs agenda that is driving our strategy. This isn’t about altruism – it’s about helping the private sector see a path to investments that will deliver returns, and lift people and economies alike. It’s central to our mandate”, Ajay Banga, the World Bank Group President said.

The global Bank said that over the last 18 months, the Lab brought together leaders from global financial institutions to identify the most pressing barriers to private sector investment in developing countries and to test actionable solutions.

The statement said that the work had now been consolidated into five priority focus areas that were being integrated across the bank operations, including regulatory and policy certainty.

The Lab’s founding members included senior executives from AXA, BlackRock, HSBC, Macquarie, Mitsubishi UFJ Financial Group, Ninety One, Ping An Group, Royal Philips, Standard Bank, Standard Chartered, Sustainable Energy for All, Tata Sons, Temasek and Three Cairns Group.

The Lab is chaired by Shriti Vadera, Chair of Prudential Plc.

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