The President of Dangote Group, Aliko Dangote has disclosed
that the company’s revenue base is expected to hit $30 billion by 2020, a feat
he would have considered impossible a decade ago.
Dangote made this disclosure at the first ever Africa
Investment Forum (AIF) in Johannesburg, South Africa.
According to the African multibillionaire, the progress
being made by the Dangote Group is as a result of bold steps being taken to
venture into spaces others are running away from.
“Ten years ago, if you mention to me or even if I actually
see it in a dream that our company will have a revenue of $3 billion, I would
have said it is impossible. But today, by 2020, we would have $30 billion of revenue.
Why? Because we have gone into very bold product.
“While people are running away from investing, we are
investing. From just petrochemicals and our refinery and oil blocks, we would
have over $25 billion, and the rest of the business will have $6 billion.” –
Dangote
On how the conglomerate would realise this, Dangote said the
company’s confidence would be more boosted after the completion of its oil
refinery in Lagos, Nigeria. Also on the conglomerate’s to-do list is – The
investment of billions of dollars in sugar, rice and dairy production in the
West African nation and the listing of his cement company in London.
About Dangote Group
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. The group employs more
than 30,000 people, generating revenue in excess of $4.1 billion in 2017.
The company was founded in 1981 as a trading enterprise,
importing sugar, cement, rice, fisheries and other consumer goods for
distribution in the Nigeria market. The group moved into manufacturing in the
1990s, starting with textiles, moving onto flour milling, salt processing, and
sugar refining by the end of the decade. Dangote Group moved into cement
production, growing rapidly and moving into other African countries.
