Industry Conglomerate Website dangote-group.com Founded 1981 Type Privately held company | Services LogisticsReal Estate Revenue 2.642 billion USD (2012) Number of employees 26,000 | |
Products CementSugarSaltFlourSteelOil & GasPackaging Materials Profit US$1.029 billion (2012) Profiles | ||
Dangote group relying on international operations to finance expansion
The Dangote Group is a Nigerian multinational industrial conglomerate, founded by Aliko Dangote. It is the largest conglomerate in West Africa and one of the largest on the African continent. It generated revenue in excess of US$3 billion in 2015. The group is one of the leading diversified business conglomerates in Africa, and employs more than 26,000 people.
Contents
- Dangote group relying on international operations to finance expansion
- Exclusive interview with dangote group construction conglomerate
- Overview
- Subsidiary companies
- References
Exclusive interview with dangote group construction conglomerate
Overview
The company was founded by Aliko Dangote after receiving a $3,000 loan from an uncle. Initially, the company focused on the bulk sale of foods such as rice, but gradually expanded to shipping and the importing of cement. Dangote competed (and competes) with Lafarge, a French company that imported and produced the bulk of African cement.
Today, Dangote Group is a diversified conglomerate, headquartered in Lagos, with interests across a range of sectors in Africa. Current interests include cement, sugar, flour, salt, pasta, beverages and real estate, with new projects in development in the oil and natural gas, telecommunications, fertilizer and steel. Competitors in both Nigeria and other portions of Africa include Stallion Group.
Subsidiary companies
Dangote Cement, the largest cement production company in Africa, with a market capitalization of almost US$14 billion on the Nigeria Stock Exchange, has subsidiaries in Benin, Cameroon, Ghana, Nigeria, South Africa and Zambia. In December 2010, the group signed an agreement with the Government of Zambia to construct a US$400 million cement plant in Zambia. Once completed in June 2013, as anticipated, the new plant is expected to have an annual output of 1.5 million metric tonnes of cement.
Dangote Sugar is another major subsidiary of Dangote, competing with Bua Refinery Ltd. and Golden Sugar Co. Dangote Sugar is the largest sugar refining company in sub-Saharan Africa.