The wealth of the richest man in Africa rises to a record level .. the highest in 7 years!


Africas richest man, Aliko Dangote, is on track to close the year with its highest level of net worth since 2014 buoyed by a second consecutive year of gains in his cement unit.

The rise in the share price of Dangote Cement Plc andRising oil and fertilizer prices The 64-year-old Nigerian businessman is expected to boost his fortune by up to $2.3 billion this year to $20.1 billion as of December 3, the richest level of his wealth since 2014, according to the Bloomberg Billionaires Index. As of June 2014, his fortune reached $26.7 billion.

Strong demand for cement and rising prices for building materials in Africas largest economy also helped boost revenue for Dangote Cement, the Nigerian billionaire’s largest asset.

Dangote is also preparing to complete a $19 billion refinery that will have the capacity to meet Nigerias demand for fuel, which is currently met by imports.

This year, the company also began exporting fertilizers to the United States and Brazil after completing a plant with a production capacity of 3 million tons of urea and ammonia annually.

Born into a wealthy Muslim family in northern Nigeria, Dangote started his own cement company at the age of 21. He moved into the manufacture of building materials in the 1990s, with the help of government policies that encouraged ways to reduce the need for imports.


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