Aliko Dangote, the President and CEO of Dangote Group, has expressed his gratitude following his appointment to the World Bank’s Private Sector Investment Lab. This body is dedicated to advancing investments and creating jobs in emerging economies.
In his statement confirming the appointment, Dangote reiterated his dedication to driving sustainable economic growth through private sector investments. He emphasized the transformative potential of these initiatives, particularly in developing markets.
“I am both honoured and excited to accept my appointment to the World Bank’s Private Sector Investment Lab, which is focused on driving investment and employment in emerging economies,” Dangote shared.
He continued, “This opportunity aligns perfectly with my long-standing commitment to sustainable development and unleashing the potential of developing economies. Inspired by the success of the Asian Tigers, which demonstrated the power of strategic investments and targeted economic policies, I am eager to work with fellow leaders to replicate such outcomes in other regions.”
The World Bank announced Dangote’s appointment on Wednesday, as part of a broader effort to expand the Private Sector Investment Lab. This initiative now enters a new phase aimed at scaling solutions to attract private capital and foster job creation in developing nations.
Joining Dangote in this elite group are Bill Anderson, CEO of Bayer AG; Sunil Bharti Mittal, Chairman of Bharti Enterprises; and Mark Hoplamazian, President and CEO of Hyatt Hotels Corporation.
The World Bank stated that the expanded membership would bring together business leaders with proven success in generating employment in developing economies. This aligns with the Bank’s renewed focus on job creation as a central pillar of global development.
Ajay Banga, World Bank Group President, emphasized that the lab’s work is focused on creating pathways for private sector investments that yield both economic returns and positive social impact. “It’s not about altruism—it’s about helping the private sector identify investment opportunities that benefit economies and people,” Banga said.
The World Bank’s lab has spent the past 18 months bringing together leaders from global financial institutions to address barriers to private sector investment in developing countries. This work is now distilled into five key areas that are being integrated across the Bank’s operations, including improving regulatory and policy certainty.
The Dangote Group, founded by Aliko Dangote, is the largest conglomerate in West Africa and one of Africa’s biggest. The Group has diverse interests across cement, fertiliser, salt, sugar, and oil, employing over 30,000 people. It is also the largest taxpayer in Nigeria, contributing more in taxes than all of Nigeria’s banks combined. Furthermore, the $20bn Dangote Petroleum Refinery & Petrochemicals project is Africa’s largest single private investment.
In addition to his business ventures, Dangote leads the Aliko Dangote Foundation, the largest private foundation in sub-Saharan Africa, which focuses on child nutrition and supports initiatives in health, education, empowerment, and disaster relief.
