The President and Chief Executive Officer of Dangote Group, Aliko Dangote, has expressed his appreciation for his recent appointment to the World Bank’s Private Sector Investment Lab. This prestigious body is focused on enhancing investment and generating employment opportunities in emerging economies, and Dangote’s inclusion in the group marks a significant moment in his career.
In a statement confirming his acceptance of the role, Dangote said he is both “honoured and excited” to join the initiative. He further emphasized his dedication to fostering economic growth through private-sector investment, an area he believes holds transformative potential for developing markets worldwide.
“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,” Dangote noted. He also highlighted that this opportunity aligns perfectly with his long-standing commitment to sustainable development and unlocking the potential of developing economies. Drawing inspiration from the success stories of the Asian Tigers, Dangote expressed his eagerness to collaborate with fellow leaders to replicate such positive outcomes in other regions.
The World Bank officially announced Dangote’s appointment on Wednesday, as part of an expansion plan for its Private Sector Investment Lab. This marks a new phase for the lab, with a sharpened focus on scaling up solutions that attract private capital and foster job creation in the developing world.
Alongside Dangote, several other business leaders have joined the initiative, including Bill Anderson, CEO of Bayer AG; Sunil Bharti Mittal, Chair of Bharti Enterprises; and Mark Hoplamazian, President and CEO of Hyatt Hotels Corporation. This expanded membership brings together influential figures with proven success in job creation, reinforcing the World Bank’s commitment to placing job growth at the heart of global development efforts.
World Bank Group President Ajay Banga stressed the importance of this initiative, saying, “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.” Banga noted that the World Bank’s approach is to provide actionable solutions to the private sector, focusing on investment in areas that yield both financial returns and tangible benefits for communities.
Over the past 18 months, the lab has worked with global financial leaders to identify key barriers to private-sector investment in developing countries. The results have been compiled into five priority areas that the World Bank is now integrating into its operations. These priorities include fostering regulatory and policy certainty, which is seen as crucial for encouraging investment in emerging markets.
The Dangote Group, founded by Aliko Dangote, is West Africa’s largest conglomerate and a major player on the African continent. It has a diverse range of interests, including cement, fertiliser, salt, sugar, and oil. The group employs over 30,000 people and is Nigeria’s largest taxpayer, contributing more in taxes than the country’s entire banking sector combined. Dangote’s flagship project, the $20bn Dangote Petroleum Refinery & Petrochemicals, is the largest single private investment in Africa.
In addition to his business ventures, Dangote leads the Aliko Dangote Foundation, the largest private foundation in sub-Saharan Africa. The foundation’s initiatives focus on child nutrition, while also supporting health, education, empowerment, and disaster relief efforts across the region.
