fbpx
Connect with us

News

Bloomberg rates Aliko Dangote richest man in Africa with $15.6bn

Published

on

Aliko Dangote

President of Dangote Group, Aliko Dangote remains the richest man in Africa, despite the volatility of Nigerian currency against the dollar. Bloomberg in its daily top billionaire lists, released on Tuesday, revealed that Dangote with a wealth of $15.6 billion topped other Africans in the Index.

Dangote, who remains the richest man in Africa for the 12th year running, was the only Nigerian on the list of the top 500 billionaires, as released by Bloomberg.

Other Africans listed in the latest top 500 world billionaires list for the year 2023 include Johann Rupert and family of South Africa, now worth $13.3 billion, while Nicky Oppenheimer of South Africa, Nassef Sawiris of Egypt, Natie Kirsh of South Africa, and Naguib Sawiris are also worth $9.0 billion, $7.47 billion, $7.37billion and $5.93 billion respectively. These are the only five other Africans that made the list.

The Bloomberg Billionaires Index is a daily ranking of the world’s richest people. In calculating net worth, Bloomberg News strives to provide the most transparent calculations available, and each individual billionaire profile contains a detailed analysis of how that person’s fortune is tallied.

The index is a dynamic measure of personal wealth based on changes in markets, the economy and Bloomberg reporting. Each net worth figure is updated every business day after the close of trading in New York. Stakes in publicly traded companies are valued using the share’s most recent closing price. Valuations are converted to U.S. dollars at current exchange rates.

Ellon Musk and Bernard Arnault are the richest in the world with $219billion and $194 billion respectively in their kitties while Jeff Bezos and Bill Gates followed respectively with $151 billion and $130 billion. Larry Ellison was the fifth richest with $130 billion on the world’s billionaires’ chart.

Bloomberg is a global information and technology company, that connect decision makers to a dynamic network of data, people and ideas – “accurately delivering business and financial information, news and insights to customers around the world” Bloomberg L.P. provides financial software tools such as an analytics and equity trading platform, data services, and news to financial companies and organisations through the Bloomberg Terminal.’

Africa’s richest man, with his new worth of $15.6 billion, controls Dangote Industries, a closely-held conglomerate. The Lagos, Nigeria-based company owns sub-Saharan Africa’s biggest cement producer, Dangote Cement. It also has interests in sugar, salt, fertiliser and packaged foods. Dangote also recently commissioned the $19bn petroleum refinery plant, which is now the Africa’s largest refinery.

It would be recalled that Aliko Dangote, was also recently named as among the topmost charitable man in the World by Richtopia, a digital periodical that covers business, economics, and financial news, based in the United Kingdom. This recognition came after he endowed his foundation, the Aliko Dangote Foundation (ADF) to the tune of $1.25 billion.

Aliko Dangote started his Foundation in 1981, with a mission to enhance opportunities for social change through strategic investments that improve health and wellbeing, promote quality education, and broaden economic empowerment opportunities.

Aliko Dangote Foundation was however incorporated in 1994 as a charity in Lagos, Nigeria. 20 years later, the Foundation has become the largest private Foundation in sub–Saharan Africa, with the largest endowment by a single African donor. The primary focus of Aliko Dangote Foundation is health and nutrition, supported by wrap-around interventions in education, empowerment, and humanitarian relief.

#

News

International journalist Alhassan Bala launches Hausa fact-checking platform

Published

on

Alhasan Bala

 

An international multimedia bilingual journalist, Alhassan Bala, has launched a Hausa fact-checking platform called “Alkalanci” (The Arbiter).

The platform focuses primarily on fact-checking claims on health, politics, and many other topics in Hausa language.

It will also be fact-checking pictures and videos to enlighten the Hausa readers in Nigeria, Cameroon, Ghana and beyond about misleading claims or false pictures and videos.

This becomes even more imperative at this time when people nowadays use photoshop and AI to create “deep fake” pictures and videos.

#

“We look at the digital space and realize how misinformation and disinformation are gaining ground among Hausa digital platform users.

“There are also many myths and false claims on health matters that a number of people believe with utmost belief.

“This is why it is important for us to provide a platform that will enlighten the Hausa readers,” Bala said in a statement on Sunday.

The statement continued: “We at the ‘Alkalanci’ would be providing media literacy so that people will know how to protect themselves from getting trapped by misinformation, disinformation or false claims, pictures and videos.”

Bala is currently a stringer with Voice of America (VOA) Hausa and English services with decades of journalism experience.

Continue Reading

News

Tinubu’s Aide Changes President’s Name to “Malam Bala Tanimu Ashiru,” Accuses Opposition of Spreading Rumors About President’s Health

Published

on

President Bola Ahmad Tinubu

Political assitant to President Bola Ahmad Tinubu, Ibrahim Masari, has accused the opposition of spreading rumors about the President’s health, noting that President Tinubu is hale and hearty.

NIGERIAN TRACKER reports that Masari made these remarks during an interview with the Hausa medium, DCL Hausa, which was monitored by NIGERIAN TRACKER.

Masari added that he had seen President Tinubu, and after their stay in London, they flew to France. He emphasized that the rumors circulating in Nigeria are the handiwork of opposition elements.

Ibrahim Masari also noted that many hurdles were placed in the President’s path to prevent him from winning the 2023 elections, but the President managed to overcome them.

He added that even the current rumors are being spread by opposition elements, but they will not succeed.

#

While addressing the President, instead of referring to him as Bola Ahmad Tinubu, Masari called him “Malam Bala Tanimu Ashiru,” explaining that “Bola” stands for “Bala,” “Tinubu” stands for “Tanimu,” and “Asiwaju” stands for “Ashiru.”

This nomenclature has been used by several northern politicians to appeal to northern voters when supporting a southern candidate.

During the Babangida Transition in the 1990s, presidential candidates like Chief Olu Falae were addressed as “Auwalu Falalu” by northern politicians, while candidates like Olusegun Obasanjo were addressed as “Uba Surajo,” and Goodluck Jonathan was called “Mainasara.”

In the comments section, many people accused Ibrahim Masari of sycophancy

Continue Reading

News

Grenada PM says Dangote Refinery will save Africa from being a Dumping Ground

Published

on

DSC4451: L-R: President/CE, Dangote Industries Limited, Aliko Dangote and Prime Minister, Grenada and Chairman CARICOM, Hon. Dickon Mitchell, during the Prime Minister’s visit to Dangote Petroleum Refinery, Petrochemicals and Fertiliser Plant in Lekki, on Friday October 10, 2024.

The Prime Minister of Grenada, Dickon Mitchell, has described the Dangote Petroleum Refinery and Petrochemicals as a significant investment in industrialisation and manufacturing needed by developing countries for their industrial growth.

He noted that it is through this type of investment that Africa and the developing countries can reverse the cycle of exporting raw materials while importing finished products from developed countries.

This is as Dangote hinted at potential partnerships with the Caribbean community in the production of cement and fertilisers as well as petroleum products.

Mitchell, who is the chairman of the Caribbean Community (CARICOM or CC) – a political and economic union of 15 member states and five associated members throughout the Americas, The Caribbean and Atlantic Ocean, disclosed this on Thursday during his tour of the Dangote Petroleum refinery and Petrochemicals complex in Ibeju Lekki, Lagos.

Mitchell said the investment is a tribute to the President of Dangote Group, Aliko Dangote and his vision not just for Nigeria but Africa as a whole.

“This investment is a tribute to Dangote and his remarkable vision. It is the first of its kind in Nigeria and Africa, symbolising what the developing world needs: significant investment in industrialisation and manufacturing. This is an incredible achievement and a testament to Mr. Dangote’s vision, not just for his company, but for Nigeria and Africa as a whole.

“Dangote exemplifies what an African leader should be. We need not just political leaders, but business leaders who are willing to invest in Africa, particularly in manufacturing and industrialisation. We must ensure that we don’t continue to export our raw materials to the developed world, where they can be turned into sophisticated products and sent back to us. We need to reverse that cycle; it is the only way to grow the wealth of Africa and the developing world. Additionally, we need to support this with training and invest in job opportunities,” he said.

Applauding the sophistication and automation at the refinery, the Prime Minister expressed optimism for Nigeria’s future, especially given the number of young Nigerians trained and working at both the refinery and fertiliser plants. The $20 billion refinery, the largest private investment in Africa, stands out for its team of young professionals, predominantly aged between 26 and 28, most of whom hold advanced degrees and were educated in Nigeria.

“It has been a wonderful experience to witness the shared skills, depth of sophistication, and automation here. Seeing so many bright young Nigerians, particularly in the laboratories, is truly inspiring. I believe this bodes well for the future development of Nigeria,” he added.

Mitchell stated that the Caribbean Community would be exploring partnership opportunities with the Dangote Group to enhance its economy.

“One of the reasons I am here is to pursue synergies and partnerships between the diaspora and Africa, particularly in areas such as the refinery, cement, and fertiliser. We believe there are fantastic opportunities to develop partnerships between the Caribbean and Africa,” he added.

On his part, Dangote described the visit as symbolic, noting that many Caribbean countries are beginning to discover crude oil and are exploring opportunities to build their own refineries. This would help them address the challenge of exporting crude while importing refined petroleum products at high costs.

“The visit shows that many countries are proud of what we have been able to achieve because a lot of countries have been unable to deliver their refineries. It shows their pride in seeing a Black person like them at the Caribbean, although I am from Nigeria, succeed. For them, this is a dream, especially as many Caribbean countries are beginning to discover oil but still depend largely on exporting crude while importing petroleum products, which is costlier than in America. Their dream is to set up a refinery—perhaps not of this size—but one that would cater to their people,” he said.

Africa’s wealthiest man emphasized that the company is looking for partnerships in the Caribbean not only in petroleum products but also in cement and fertilizer production. He mentioned ongoing discussions about importing crude from these countries while supplying them with refined products.

“There are numerous partnerships in place. He is not only the Prime Minister of Grenada but also the Chairman of the Caribbean Community (CARICOM). We are exploring collaboration in areas such as cement and petroleum, including the possibility of buying crude from them while selling some of our petroleum products to them. We already export to the U.S., Mexico, and other regions, so there is significant collaboration we are looking to develop between us and them,” he added.

The 650,000 barrels per day (bpd) Dangote Oil Refinery—the largest single-train refinery in the world—is designed to process a wide variety of crude oils, including those from Africa, the Middle East, and US Light Tight Oil. It conforms to Euro V specifications and is built to meet stringent standards set by the US Environmental Protection Agency (EPA), European emission norms, the Department of Petroleum Resources (DPR), and the African Refiners and Distributors Association (ARDA). The refinery has the capacity to satisfy 100% of Nigeria’s demand for petrol, diesel, kerosene, and aviation jet fuel, with additional surplus available for export.

#
Continue Reading

Trending