Africa’s richest man and President of the Dangote Group, Aliko Dangote, has revealed that his first grandson is currently more interested in gaining professional experience outside the family business before eventually joining the conglomerate.
Dangote disclosed this on Tuesday during a high-level investor engagement organised for the Dangote Petroleum Refinery’s initial public offering with Kenyan and East African institutional investors in Nairobi.
Speaking about the group’s long-term succession plans and the involvement of his family in the business, Dangote said his grandson, an electrical engineer, wanted to gain experience in finance at global professional services firms KPMG or PwC.
“My first grandson, he’s not finding it interesting to work with me for now. He wants to go and get experience with KPMG or PwC. Then after he’ll come and join us. He’s an electrical engineer, but he wants to go and learn about money first,” Dangote said.
The industrialist also introduced his first daughter, Mariya Dangote, and her husband, Alassane, who attended the event.
Describing Mariya as a very shy person, Dangote invited the couple to stand and wave to the audience.
He also explained that the Dangote Group does not operate with 10-year visions, arguing that such lengthy targets could make people relax because the deadline appears too far away.
Instead, he said the group works with five-year plans involving its top executives, including Group Vice Presidents Edwin and Alaki, Group Chief Financial Officer Murat, David Bird and other directors.
Dangote’s three daughters—Mariya, Halima and Fatima—already hold executive positions across different areas of the conglomerate, which has interests in cement, sugar, refining, fertiliser and manufacturing.
The businessman has previously said that having a male heir is not a priority for him, adding that one or more of his daughters could eventually take leadership of the group.
About the Author
