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Halima Dangote: Family-Owned Businesses driving global economic success

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Family-owned businesses (FOBs) can continue to drive economic success, create value for shareholders, and positively impact their communities worldwide by staying true to their core values and adopting strategic practices that prioritise long-term growth, efficiency, and resilience. This was part of the submission made by Halima Aliko-Dangote, Group Executive Director of Dangote Industries Limited, during the Forbes Global CEO Conference in Bangkok, Thailand.

Halima, who is also the Executive Director, Family Office, spoke at the panel session on Family Business: Looking at the Next Frontier, opined that family-owned businesses have demonstrated exceptional resilience, navigating challenges and thriving over multiple decades.  Other speakers include Carolyn Choo, Managing Director and CEO of Worldwide Hotels; Rose Damen, Managing Director of Damen Yachting, third-generation family shareholder of Damen Shipyards Group; and Caroline Link, Co-Chairman of B.GRIMM Pharma, President of B. Grimm Joint Venture, and Board Member of B. Grimm Power.

She stated that  success in family-owned businesses starts with shared values, goals, governance policies and alignment adding that reputation is part of Family Capital. According to her, governance structure, adherence to core values, customer satisfaction, optimization of shareholder value, meritocracy, integrity, leadership, brand equity, diversification/growth, philanthropy and preserving generational wealth play key roles to the success of our businesses.

She opined that Dangote Group’s governance policies do not allow board and management to operate in silos as each business unit have at least three independent directors that will give a holistic view.

Speaking on other factors of success for Dangote Group, Halima emphasized, “We family-owned businesses have to stick to our tradition of asset rich-cash moderate or as my father will correct me, asset rich-cash poor. We as Dangote perpetuate a profitable business with strong values and strong governance structure. We make money while building our nation by contributing heavily to the global economy, creating massive jobs, thinking of our great grand kids and contributing  excessively to humanity.”

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Highlighting the significant contribution of FOBs to the global economy, Halima noted that studies by Mckinsey showed  that they account for more than 70% of global GDP, generate annual turnovers of between $60 trillion and $70 trillion, and provide around 60% of global employment. She stressed the crucial role these businesses play in creating jobs, sustaining communities, and driving development in sectors such as manufacturing, education, healthcare, and infrastructure across the world.

“Family-owned businesses (FOBs) have proven to be resilient, weathering challenges and thriving across multiple decades. Despite facing external pressures, many FOBs not only survive but also grow, contributing significantly to the global economy in ways that are often underestimated or overlooked,” she said.

She also pointed out that family-owned businesses often employ two key approaches in preparing the next generation for leadership roles: internal and external capacity building. Regarding internal capacity building, Halima explained that many families create internship programmes for young family members interested in taking over the business or assuming leadership positions.

In Nigeria, we  train the next generation so they can grow organically  to  leadership roles in family businesses. My dad’s approach is for you to start from ground up knowing you will get to leadership role if you work hard and do your job right. These experiences  make it easier for you to learn the ropes and be prepared for leadership role in the future,” she said.

On external capacity building, Halima discussed the practice of sending younger generations to work in non-family businesses. This approach enables them to acquire new skills, learn better processes, and gain diverse perspectives that can benefit the family business in the long run adding that she started her career as an Analyst at KPMG before joining Dangote Industries Limited.

The approach she explained “removes the familiarity tag as the young generation got employed as other people and supervised to monitor their performance. This has been a common avenue business families have chosen to pursue for many years, having their next generation spend three to five years working outside the family business before eventually joining with a new set of skills and business knowledge.”

Addressing the challenges of succession planning, Halima emphasised the importance of involving the younger generation in the business early on. She suggested that this creates a space for open communication, where the next generation can share their thoughts, ideas, and aspirations, while the senior generation provides critical information to help the next leaders make informed decisions.

She stressed the need for a balance between tradition and innovation in family-owned businesses. While tradition provides continuity and stability, she noted that innovation is vital to staying relevant and competitive in the modern marketplace.

“Successful family businesses recognise the need to adapt to changing consumer preferences, technological advancements, and market trends. Family businesses often have a wealth of experience and deep-rooted traditions. They can also benefit from external expertise and fresh perspectives,” she concluded.

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BIKOBA Prepares for AGM with Lecture on Youth Opportunities in Innovative Agriculture

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Arrangements have been concluded for the successful conduct of the Annual General Meeting (AGM) of the Birnin-Kudu Old Boys Association (BIKOBA), the umbrella association of the Old Students of Government Unity College, Birnin Kudu, Jigawa State—one of the famous secondary schools/colleges in Northern Nigeria.

The occasion, scheduled to take place on Sunday, December 29, 2024, at 9:00 AM at the Murtala Mohammed Library Hall along Ahmadu Bello Way, Kano, will feature a public lecture to be delivered by Prof. Ibrahim Baba Mohammed, a distinguished agronomist with the Faculty of Agriculture, Bayero University, Kano. The lecture, titled “Unlocking Opportunities for Youths in Innovative Agriculture: A Focus on Kano and Jigawa States in Northern Nigeria,” aims to attract and stimulate students to engage in modern farming activities at an early age, with a view to tapping the untapped agricultural potential in abundance in the region for food sufficiency, security, and economic gains.

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Alhaji Basiru Mohammed Sanusi, the Galadiman Dutse, will chair the occasion, with Governor Malam Umar Namadi of Jigawa State and Senator Mustafa Habeeb as Guests of Honor, while former Governors of Kano and Jigawa States, Dr. Abdullahi Umar Ganduje and Alhaji Sule Lamido, will serve as Special Guests of Honor. The National President of BIKOBA, Alhaji Ja’afar Usman Muhammad (Turakin Gaya), will be the Chief Host of the event.

Major highlights of the AGM include the election of new executive committee members of the association and the presentation of an audited account report containing the financial statement of the association for subsequent ratification and approval by the general assembly members.

The occasion will also feature the launch of a book written by a member of the Class of ’86 Chapter about the history of Government Unity College Birnin-Kudu and its contributions to the development of the education sector in the Northern region and beyond.

In a statement by National Publicity Secretary Mahmud Ibrahim Kwari, he said government officials, former and serving senators, House of Representatives members, former ministers, serving and former commissioners and members of state legislatures, officials from traditional institutions, as well as members and friends of the BIKOBA family, are expected to fully attend this historic annual event.

 

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60% of Christmas Celebrations Observed by Non-Christians in Kano

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By Salisu Baso

An investigation carried out by independent journalist Salisu Baso has observed that about 60% of this year’s Christmas celebrations have been observed by the non-Christian community in Kano.

This year’s celebration has witnessed serious economic challenges, and the majority of Nigerians are managing to survive. Therefore, the Christian community has managed to conduct the occasion with the little earnings from their collective businesses, especially those at various markets in the state.

Investigations also learned that the delay in payment of government salaries to workers in the state has crippled the ceremonial activities, leading to low patronage in the markets.

The tradition of slaughtering goats by the celebrants has drastically dropped, and the presentation of gifts from well-meaning individuals house to house is also seeing a decline.

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Visiting the Sabon Gari area, our source observed that the majority of the beer parlors in the evening hours were full of visitors, while New Road by Court Road, especially Ado Bayero Square, was occupied by a majority of youth celebrating the day.

When contacted, a traditional Igbo Chief, Amb. (Dr.) David N. Onwere, described this year’s celebration as manageable for Nigerians to celebrate the great events as a result of the critical economic conditions facing the nation. He said the majority of people in the state have not traveled to their respective areas due to the high cost of transport fees.

Chief Onwere then congratulated the entire Christian community in the country, particularly in Kano, and wished them a Happy New Year in advance.

 

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Hon. Abubakar Kabir Abubakar Congratulates APC National Chairman on 75th Birthday

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Hon. Abubakar Kabir Abubakar, a member of the Federal House of Representatives representing Bichi Federal Constituency, has extended his heartfelt congratulations to the National Chairman of the All Progressives Congress (APC), His Excellency, Dr. Abdullahi Umar Ganduje CON, on the occasion of his 75th birthday anniversary.

In a statement personally signed by Hon. Abubakar, he praised Dr. Ganduje for his inspiring life, which exemplifies integrity, honesty, dedication, and resilience—qualities that are the hallmarks of success in any career. “As a politician of the highest repute, you live an inspiring life which clearly demonstrates that integrity, honesty, dedication, and resilience are the hallmarks of success in any career,” Hon. Abubakar stated.

Hon. Abubakar also expressed his prayers for Dr. Ganduje, wishing him continued guidance and wisdom from Almighty Allah as he remains steadfast in leading the APC to greater heights. “As you celebrate your 75th birthday anniversary today, it is my prayer that Almighty Allah continues to guide and give you wisdom, as you remain resolute in moving our great party to greater heights,” he added.

Dr. Abdullahi Umar Ganduje, who has served in various capacities, including as the Governor of Kano State, is widely recognized for his contributions to the political landscape of Nigeria. His leadership and dedication have earned him respect and admiration from colleagues and constituents alike.

The congratulatory message from Hon. Abubakar underscores the high regard in which Dr. Ganduje is held within the APC and the broader political community. As the party’s National Chairman, Dr. Ganduje continues to play a pivotal role in shaping the future of the APC and advancing its mission and vision.

 

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