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Africa’s richest man is for cement, oil and Arsenal

By on September 15, 2017


Aliko Dangote bets boldly. Oil, cement, and football club Arsenal tempt Africa’s richest person. Forbes recently named Dangote Africa’s richest person for the sixth year in a row.

It was in cement that Dangote made his fortune, he founded and chairs Dangote cement, which produces a staggering 44 million metric tons annually and plans to increase this output 33% by 2020.

“Nothing is impossible”

These three words are on a plaque Aliko Dangote (60) has in his office in Lagos, Nigeria. According to Bloomberg Billionaires index Dangote was worth $12.3 billion this August. Dangote is humble in his personal life but bold in the business world.

Aliko Dangote still has a number of big plans he wishes to pursue in the future. He manages an empire that includes cement, freight, infrastructure, agriculture and soon also oil refining. Even though he once lost nearly six billion dollars in a year, Dangote is not nervous about the size and scope of his investments and says he chooses to make bold moves that others would avoid.

A determined eye to buy Arsenal

Arsenal Football Club, a top team in the English Premier League, is an investment he says he is eager to add to his portfolio. This comes from a man who likes to bet on all types of sports. Yet, it is clear that Arsenal is closest to his heart.

When the work on the refinery is in line, Dangote sees a new acquisition – Arsenal Football Club. He has supported the club since the mid-1980s when he was introduced to the Gunners by club’s former vice-chairman, David Dein.

Dangote is so passionate about Arsenal that he feels it’s not appropriate to buy any other club. “I do not change club. Even when Arsenal is not doing well, I stick by them. It is a big team that is well controlled. It could be better managed so I want to be there” he says.

His response to whether Stan Kroenke and Alisher Usmanov want to sell their share? “Everything is possible in this world. If they get the right offer, I’m sure they will go away.”

Club coach Arsène Wenger will be replaced if Dangote takes over. Music to many fan’s ears. And, if he were to play himself, “I would be a striker. I do not want to be part of the supportive team, I want to be the one who scores goals.”

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