Latest news with #DangoteGroup
Bloomberg
7 days ago
- Business
- Bloomberg
Dangote Ends Nigeria's Run as Africa's Biggest Fuel Importer
Nigeria's time as Africa's biggest fuel importer has ended as the Dangote mega-refinery boosts production. The title is now held by South Africa, where operational fuel-making capacity has shrunk, according to a consultancy. Billionaire Aliko Dangote 's 650,000-barrel-a-day plant started ramping up in 2024, part of Africa's leading crude producer's aim to stop sending oil to Europe to be processed and shipped back.
Business Insider
24-05-2025
- Business
- Business Insider
Africa's richest man, Dangote, announces major investment to boost rice production
Aliko Dangote, Africa's richest man, has announced a major agricultural investment in northern Nigeria, in partnership with the state government, to boost rice production and enhance food security. Aliko Dangote, Africa's wealthiest individual, announces a significant agricultural investment in northern Nigeria. A state-of-the-art rice mill, with a production capacity of 32 metric tons per hour, is being constructed on a 30-hectare site. The project is part of the Niger Food Initiative, aimed at improving food security and supporting local farmers. At a trade fair spearheaded by the Dangote Group, Fatima Abdurrahman, Senior Special Adviser to the President of the Dangote Group, confirmed the multi-billion naira initiative. The company disclosed that it is constructing a high-capacity rice mill with a production capacity of 32 metric tons per hour on a 30-hectare site. Abdurrahman described the project as a key component of the Niger Food Initiative, a public-private agricultural development program launched by the state government. 'As part of our commitment to advancing agriculture, we plan to establish one of the largest rice mills here in Niger State,' She said. Facility infrastructure and benefits The facility will feature 32 silos, each capable of storing 2,500 metric tons of paddy rice, and a 5.8-megawatt captive power plant to ensure uninterrupted operations. ' This state-of-the-art facility ensures high efficiency, minimal waste, and premium-quality output, ' Abdurrahman added. Beyond infrastructure, the Dangote Group will operate as a 100% off-taker for rice produced by local farmers under the out-grower scheme. The conglomerate will also be a major supplier of essential inputs, such as fertilizers and seedlings, supporting thousands of smallholder farmers across the state. She further emphasized the project's significant social and economic impact, highlighting that it will create substantial employment opportunities and strengthen the agricultural value chain. A representative of the Minister of State for Agriculture and Food Security, Sabi Abdullahi, joined the conversation, reiterating that commercial agriculture is a major focus of President Bola Tinubu's economic development agenda. Abdurrahman concluded by describing the rice mill as a cutting-edge facility that integrates the latest milling technologies for efficient, high-quality, and sustainable production. 'Once operational, it will not only boost local rice production but also strengthen the entire agricultural value chain, from farm to market. ' she said.
Reuters
22-05-2025
- Business
- Reuters
Nigeria's Dangote refinery agrees to export polypropylene with Vinmar
LAGOS, May 22 (Reuters) - The Dangote Petroleum Refinery and Petrochemicals said it will partner with Vinmar Group, an international petrochemicals distribution company, to bring Dangote polypropylene to global markets. Dangote's $2 billion Petrochemical Plant in Lagos with 830MT tonnes capacity, began producing polypropylene in March, in 25kg bags for the local market. "We're pleased to partner Vinmar to introduce Dangote Polypropylene to the global markets," said Fatima Aliko Dangote, an executive director at Dangote Group at the launch of the facility on Wednesday. Nigeria currently imports 90% of its annual polypropylene requirements amounting to 250,000 metric tonnes per year. The Dangote facility seeks to not only meet local demand but become a net exporter Fully operational, the facility is set to become Africa's largest polypropylene production site, producing from two polypropylene units with capacities of 500,000 mt/year and 330,000 mt/year.
Business Insider
21-05-2025
- Business
- Business Insider
Aliko Dangote, alongside other African billionaires listed in TIME's top 100 philanthropists
Philanthropy is becoming an increasingly powerful force in Africa, with African billionaires taking the lead in addressing critical developmental challenges. Philanthropy is gaining significance in Africa, driven by billionaire efforts. Prominent philanthropists include Aliko Dangote, Patrice Motsepe, Strive Masiyiwa, and Mo Ibrahim. These individuals implement culturally sensitive and context-specific initiatives. While many African countries continue to suffer from widespread poverty, underfunded healthcare systems, educational inequity, and inadequate infrastructure, a surge of billionaire-led philanthropy is making a real difference in a variety of sectors. African billionaires like Aliko Dangote of Nigeria, Patrice Motsepe of South Africa, Strive Masiyiwa of Zimbabwe, and Mo Ibrahim of Sudan have emerged as some of the most committed philanthropists on the continent. Africa's philanthropy is distinguished by its deeply personal and localized nature. These billionaires are not just passive donors; they are often intimately familiar with the problems they are attempting to solve, having either grown up or spent significant time in the communities they support. This proximity enables them to design initiatives that are context-specific, culturally sensitive, and more likely to produce long-term results. Beyond cash donations, these philanthropists are instilling a culture of giving in Africa's emerging middle class, entrepreneurs, and diaspora groups. There is a growing recognition that long-term development in Africa must be led locally, and philanthropy is increasingly seen as a critical tool for achieving this. Despite these good tendencies, difficulties persist. Many African charitable organizations continue to encounter legal barriers, limited access to data for effect measurement, and challenges in mobilizing domestic resources at scale. However, the influence of billionaire donors is assisting in overcoming some of these barriers by bringing attention to concerns and encouraging policy discussions. With that said, here are Africa's top philanthropists, and their efforts, according to TIME. Top 3 African philanthropists Aliko Dangote: "Business magnate Aliko Dangote, founder, president and CEO of the Dangote Group, built a net worth of $23.9 billion through cement, agriculture, and oil refining operations in Nigeria. His Aliko Dangote Foundation, which he endowed with $1.25 billion in 2014, aims to give back to the continent that facilitated his success, spending an average of $35 million a year on programs across Africa." Tsitsi Masiyiwa and Strive Masiyiwa: "Guided by their deep Christian faith, Econet founder Strive Masiyiwa and his wife Tsitsi, a social entrepreneur, have devoted much of the estimated $1.2 billion fortune he has amassed through the telecommunications company to empowering Africa's people. Originally from Zimbabwe, the couple launched their HigherLife Foundation in 1996 to provide educational support to orphaned children from their native country. Today, the organization— together with Delta Philanthropies, which the Masiyiwas founded in 2017—focuses on education, health, disaster relief, and rural entrepreneurship initiatives to help communities across Africa thrive. It has so far supported over 250,000 people with scholarships and leadership training, while investing $100 million on job creation and $60 million on health care and crisis response. Strive is also the former chair of the Alliance for a Green Revolution in Africa, which promotes sustainability efforts for Africa's small farmers." Yousriya Loza-Sawiris: "Yousriya Loza-Sawiris, the matriarch of one of Egypt's wealthiest families—their business interests span telecommunications, construction, technology, and tourism—has spent over 40 years leveraging her family's power and influence to create pathways out of poverty for marginalized Egyptians. Involved in philanthropic initiatives since 1984, Loza-Sawiris formalized the family's efforts to help Egyptians living in poverty as the founding chair of their Sawiris Foundation for Social Development in 2001.
Zawya
07-05-2025
- Business
- Zawya
Nigeria: Dangote Packaging expands output into African export market
Dangote Packaging Limited (DPL) has announced plans to expand into the African export market, following a production capacity boost facilitated by new machinery being commissioned in the two manufacturing plants. Chairman of DPL's Board of Directors, Mr Robert Ade-Odiachi, disclosed the development during a strategic board meeting held on Wednesday. The company, he said, is increasing its production from 36 million to 52 million polypropylene bags per month and is on course to increase that figure in the coming years. 'With the current increase in production capacity, DPL is ready to explore markets across West, Central, and Southern Africa. 'Once domestic demand is met, it is only logical to channel our surplus to new territories. To this end, we have engaged an export team to lead the charge,' Ade-Odiachi said. He stressed that the company's entry into export markets would be backed by world-class standards. 'We are equipped with state-of-the-art machinery, skilled manpower, and robust systems. Our product quality is unmatched, and our pricing remains competitive,' he added. Ade-Odiachi also hinted at the possibility of offering trade concessions to fast-track market penetration in target export regions. DPL's expansion is part of a wider strategic alignment with the growing demands of the Dangote Group's industrial portfolio. The increase in production is expected to support the Group's internal supply chain while also positioning DPL as a regional packaging powerhouse. 'With our refinery and petrochemical plants now supplying key raw materials, we have achieved self-sufficiency, further reinforcing our long-term growth prospects,' Mr Ade-Odiachi said. Also speaking at the meeting, Dangote Group Treasurer and DPL Board Member, Alhaji Mustapha Matawalle, stressed the economic benefits of the expansion. 'This is not just about market dominance and revenue generation,' he said. 'It's also about creating jobs and boosting Nigeria's foreign exchange earnings through export activity.' He further commended DPL's commitment to Health, Safety, Security, and Environmental (HSSE) standards, noting that operations remain fully compliant with regulatory expectations. The company's new push follows the commissioning of advanced machinery in April, an event where DPL Managing Director, Mr Sai Prakash, described the equipment as cutting-edge and pivotal to enhanced productivity and product quality. 'With our rapidly expanding capabilities, stepping into the African market is a natural and timely progression,' Sai Prakash said. Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (
