Aliko Dangote, President and CEO of the Dangote Group, has expressed gratitude following his appointment to the World Bank’s Private Sector Investment Lab—a global initiative aimed at driving investment and job creation in emerging economies.
In a statement, Dangote said he was honored and excited to join the Lab, reaffirming his commitment to sustainable development through private sector-led investment. He emphasized the potential of strategic investments to transform developing markets, drawing inspiration from the economic success stories of the Asian Tigers.
“This opportunity aligns with my long-standing commitment to unlocking the potential of developing economies,” Dangote said.
The World Bank announced his appointment on Wednesday as part of an expansion of the Lab, which is now entering a new phase focused on scaling solutions that attract private capital and create employment globally.
Other new members include Bayer CEO Bill Anderson, Bharti Enterprises Chairman Sunil Bharti Mittal, and Hyatt Hotels CEO Mark Hoplamazian. The Bank said these leaders bring proven expertise in job creation across developing countries.
World Bank Group President Ajay Banga explained the Lab’s goals: “This isn’t about altruism—it’s about helping the private sector find viable investments that deliver returns and lift people and economies alike.”
Established in 2023 and co-chaired by Canada’s former Prime Minister Mark Carney, the Lab originally aimed to mobilize £1 trillion in sustainable investments to support energy transitions in emerging markets.
Over the past 18 months, the Lab identified key barriers to private investment and is now focusing on five priority areas, including regulatory and policy certainty, which are being integrated into World Bank operations.
The Dangote Group, founded by Aliko Dangote, is West Africa’s largest conglomerate and one of Africa’s biggest employers, with over 30,000 staff. Its interests span cement, sugar, salt, fertilizer, and oil. The $20 billion Dangote Refinery is Africa’s largest single private investment.
Beyond business, Dangote leads the Aliko Dangote Foundation—the biggest private foundation in sub-Saharan Africa—focused on child nutrition, health, education, and disaster relief.
congratulations