Dangote

President and CEO of Dangote Group, Aliko Dangote, has expressed gratitude following his appointment to the World Bank’s Private Sector Investment Lab, a global initiative aimed at accelerating private investment and job creation in emerging economies.

In a statement confirming the development, Dangote described the appointment as both an honour and a reflection of his long-standing commitment to economic development through private enterprise.

“I am both honoured and excited to accept my appointment to the World Bank’s Private Sector Investment Lab, dedicated to advancing investment and employment in emerging economies,” Dangote said.

“This opportunity aligns with my long-standing commitment to sustainable development and unlocking the potential of developing economies.”

He referenced the successes of the so-called Asian Tigers, economies that experienced rapid growth through strategic investment, as a source of inspiration for advancing similar outcomes in other parts of the world.

The World Bank announced Dangote’s inclusion on Wednesday as part of a broader expansion of the Lab, which enters a new phase focused on scaling up solutions that attract private capital and generate employment in developing countries.

Other newly appointed members include Bill Anderson, CEO of Bayer AG; Sunil Bharti Mittal, Chairman of Bharti Enterprises; and Mark Hoplamazian, President and CEO of Hyatt Hotels Corporation.

World Bank Group President Ajay Banga noted that the expanded membership underscores the institution’s focus on integrating private-sector leadership into its strategy for global job creation.

“With the expanded membership, we are mainstreaming this work across our operations and tying it directly to the jobs agenda that is driving our strategy,” Banga said.

“This isn’t about altruism—it’s about helping the private sector see a path to investments that will deliver returns, and lift people and economies alike. It’s central to our mandate.”

The lab, which was co-chaired in 2023 by Canadian Prime Minister Mark Carney, previously sought to mobilise £1 trillion in sustainable investment, particularly targeting energy transition projects in emerging markets.

Over the past 18 months, the lab has convened leaders from global financial institutions to identify and address key barriers to private sector investment in low-income economies. Its findings have now been consolidated into five core focus areas, including regulatory and policy certainty, which are being embedded across World Bank operations.

Dangote Group, founded by Aliko Dangote, is the largest conglomerate in West Africa and one of the most prominent on the African continent. With investments spanning cement, fertiliser, salt, sugar, and oil, the group employs over 30,000 people and is Nigeria’s largest private-sector employer and taxpayer.

The company’s flagship project—the $20 billion Dangote Petroleum Refinery & Petrochemicals—is the largest single private investment in Africa.

Dangote also leads the Aliko Dangote Foundation, the largest private philanthropic organisation in sub-Saharan Africa. The foundation primarily supports child nutrition and also funds health, education, economic empowerment, and disaster relief efforts.