L-R: Chief Executive Officer, TIME, Jessica Sibley, President/CE, Dangote Industries Limited (DIL), Aliko Dangote, Group Executive Director, Commercial Operations (DIL), Fatima Aliko Dangote and Managing Director/CEO, Aliko Dangote Foundation, Zouera Youssoufou, attending TIME100 Impact Dinner, at One World Observatory in New York City.
…Says Foundation spends over N50bn yearly on ‘Giving Back to Africa’
Africa’s foremost industrialist and Chairman of Aliko Dangote Foundation, Aliko Dangote, has pledged to invest greater funds in the upliftment of vulnerable populations across Nigeria and Africa, as part of his philanthropic efforts to give back to the society.
Dangote spoke on the sidelines of the TIME100 Impact Dinner held at ASPIRE at the One World Observatory in New York City, USA.
The renowned entrepreneur was named among the top 100 philanthropists listed in an inaugural list released by the TIME Magazine on 22 May, alongside other global personalities such as Michael Bloomberg, football icon David Beckham, NBA star Stephen Curry, Melinda Gates and Oprah Winfrey.
The prestigious list, published by TIME Magazine on Tuesday, features Aliko Dangote, whose Foundation spends an average of $35 million a year on programmes across Africa, alongside other global figures in charitable work, such as Michael Bloomberg, Oprah Winfrey, Warren Buffett, and Melinda Gates, all of whom are recognised as Titans.
Other prominent names on the list include David Beckham; Dolly Parton; Lisa Yang; Michael Dell and Susan Dell; Tsitsi and Strive Masiyiwa; Jack Ma; Alex Soros, Prince William and Catherine, Princess of Wales, among others.
A total of 100 influential individuals from 28 countries have been honoured for their philanthropic efforts in four categories: Titans, Leaders, Trailblazers, and Innovators, with Dangote emerging as one of the 23 Titans.
TIME highlighted Dangote’s remarkable rise to wealth, having built a fortune of $23.9 billion through ventures in cement, agriculture, and oil refining in Nigeria.
However, his philanthropic efforts are equally noteworthy. In 2014, he endowed the Aliko Dangote Foundation with $1.25 billion, with the aim of giving back to the continent that played such a key role in his success. The foundation spends on average of $35 million each year on various initiatives across Nigeria and Africa.
“Investing in nutrition, health, education, and economic empowerment is our contribution to setting Africans up for success” – Dangote remarked, reflecting the foundation’s core priorities.
Among the foundation’s ongoing efforts is a $100 million multi-year initiative to combat severe childhood malnutrition.
Furthermore, an earlier vaccine programme in Nigeria, developed in partnership with the Bill and Melinda Gates Foundation and others, contributed to the World Health Organisation’s 2020 declaration that polio had been eradicated from Africa, Nigeria being the most populous country in Africa and the last country to eradicate the disease.
Education is another area where Dangote is making a significant impact.
He recently announced a $10 million donation to the Aliko Dangote University of Science and Technology, based in Kano State.
The conglomerate has provided a wealth of infrastructural support to the country’s tertiary institutions.
In 2019, the Federal Government revealed that the N1.2 billion hostel donated by the Aliko Dangote Foundation to Ahmadu Bello University, Zaria, was the largest donation ever made by an individual to a university in Nigeria’s history at that time.
As a member of The Global Business Coalition for Education, the Aliko Dangote Foundation has also focused on early childhood education. Through the Mu Shuka Iri (Let’s Plant a Seed) programme, local women – affectionately known as “Aunties” – are trained in Montessori-style education to become community educators in Kano.
The foundation’s investments in education include providing vocational training and providing scholarships at the secondary and tertiary levels, in addition to offering annual fellowships through the World Economic Forum’s Young Global Leaders programme. “We need to create the next generation of African leaders,” Dangote says, underscoring his commitment to long-term societal change.
“My mother instilled in me the ethos of giving back, which inspired my philanthropy 30 years ago. I trust my three daughters will continue this legacy, just as they will continue to grow our business and impact. I want to be known not just as Africa’s richest person but also as its biggest philanthropist.”
