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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.”

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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Kano To Recruit More Than 17 Thousand Security Guards for Public Schools

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As part of renewed efforts to strengthen safety in schools, Governor Abba Kabir Yusuf has announced the recruitment of 17,600 security guards to be deployed across public schools in Kano State with immediate effects.

This was contained in a statement issued by governor’s spokesperson Sunusi Bature Dawakin Tofa on Monday.

Speaking at an official event in Kano, the governor revealed that 400 security personnel will be recruited and stationed in each of the state’s 44 local government areas. The initiative aims to safeguarding the lives of students and teachers, and create a safe learning environment across all public schools.

“This decision was born out of our administration’s commitment to protect our children and teachers from emerging security threats,” Governor Yusuf said. “We cannot afford to allow fear or insecurity to disrupt the education of our future leaders.”

The newly recruited guards will be trained and strategically deployed to man school gates, monitor suspicious activity, and coordinate with relevant security agencies where necessary.

This development comes alongside several other education reforms introduced by Gov. Yusuf’s administration, including the solarization of 200 schools and the distribution of instructional materials, as well as plans to permanently employ qualified BESDA staff.

Governor Yusuf reiterated that security, education, and youth empowerment remain key pillars of his administration’s agenda. He called on parents, community leaders, and traditional institutions to support the government’s efforts in ensuring safety in schools and promoting quality education for all.

 

 

 

 

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Kano Political Commentators’ Group Backs Ban on Live Political Broadcasts

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A group of political commentators in Kano State under the umbrella of Gauta Club has expressed support for the recent ban on live political programmes in the state, citing concerns over inflammatory language and public peace.

Hamisu Danwawu Fagge, Chairman of the Gauta Club, stated this on Monday while addressing journalists in Kano. We back the ban of live political programmes in Kano. Let it be censored before it goes on air,” he said.

Fagge explained that the decision to support the broadcast restrictions was rooted in the group’s founding purpose. “That is why we formed the Gauta Club — to ensure responsible political commentary that promotes peace and unity in the state,” he added.

According to him, many residents of Kano have welcomed the ban, viewing it as a necessary step toward restoring civility in political discourse. “The Kano populace is very glad about the ban,” he asserted.

He stressed that the group supports the prohibition of direct live interviews with politicians. “This will help us in sanitizing political programmes from vulgar language and abuse,” Fagge said.

Fagge also revealed that the Gauta Club would implement internal regulations to screen its members. “We are going to censor every member of the Gauta Club before going on air. We will soon visit the National Broadcasting Commission (NBC) and even radio stations to reinforce our stance,” he added.

NIGERIAN TRACKER reports that the chairman emphasized the group’s diverse membership. “Our members come from all the major political parties — the NNPP, APC, and PDP. We are united by our shared desire for the peaceful coexistence of Kano,” he concluded.

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INEC Chairman Promises Electoral Act Amendments Before 2027

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Chairman of the Independent National Electoral Commission, INEC, Professor Mahmood Yakubu, on Monday said that necessary amendments on the Electoral Act will be completed before the 2027 elections.

Prof. Yakubu also debunked the insinuation in some quarters that he has been sacked and declared that he still remains the country’s Chief Electoral Officer.

The INEC Chairman spoke while fielding questions from State House correspondents after the inauguration of two National Commissioners by President Bola Tinubu at the Council Chamber, Presidential Villa, Abuja.

He said the commission alongside relevant stakeholders have reviewed the 2023 general elections and came up with 142 recommendations, adding that out of the number, eight required electoral amendment.

Professor Yakubu, who said that he was at the seat of power for the inauguration of two national Commissioners from Southeast and North West said that the commission now has full compliment of the commissioners as required by law.

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