The President and Chief Executive Officer of Dangote Group, and owner of Africa’s largest oil refinery and the world’s largest single-train facility, Alhaji Aliko Dangote, has been appointed to the World Bank’s Private Sector Investment Lab, a global initiative aimed at accelerating private investment and job creation in emerging economies.
In a statement confirming the appointment, Dangote expressed his gratitude, describing the opportunity as both an honour and a reflection of his long-standing commitment to economic development through private enterprise.
“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,” Dangote said.
He cited the success stories of the Asian Tigers, economies that experienced rapid growth through strategic investment, as a source of inspiration for promoting similar outcomes in other parts of the world.
The World Bank announced Dangote’s inclusion on Wednesday as part of a broader expansion of the Lab, which is entering a new phase focused on scaling solutions to attract private capital and generate employment in developing countries.
Other newly appointed members include Bill Anderson, CEO of Bayer AG; Sunil Bharti Mittal, Chairman of Bharti Enterprises; and Mark Hoplamazian, President and CEO of Hyatt Hotels Corporation.
World Bank Group President Ajay Banga highlighted that the expanded membership reflects the institution’s intensified focus on integrating private sector leadership into its global job creation strategy.
“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,” Banga said.
The Lab, which was co-chaired in 2023 by Canadian Prime Minister Mark Carney, previously aimed to mobilise £1 trillion in sustainable investment, particularly targeting energy transition projects in emerging markets.
The Dangote Group
The Dangote Group, founded by Aliko Dangote, is the largest conglomerate in West Africa and one of the largest on the African continent. Its interests span cement, fertiliser, salt, sugar, and oil, employing over 30,000 people. It is Nigeria’s largest taxpayer, contributing more in taxes than all Nigerian banks combined, and the country’s largest private-sector employer after the government.
The Group’s flagship project, the $20 billion Dangote Petroleum Refinery & Petrochemicals, stands as the largest single private investment in Africa.
Beyond his business ventures, Dangote leads the Aliko Dangote Foundation (ADF), the largest private foundation in sub-Saharan Africa, backed by the largest endowment by a single African donor.
