
Africa’s richest man Aliko Dangote’s cement firm posts $486-million profit as energy costs rise
Dangote Cement is finding it hard to outdo its performance last year.
Dangote Cement is finding it hard to outdo its performance last year.
Aliko Dangote is the world’s richest Black person.
Obajana Cement Company is majority owned and operated by billionaire Aliko Dangote’s cement company, Dangote Cement Plc.
Dangote is presently not only the richest man in Africa, but also the richest Black man in the world.
The decline in his net worth can be attributed to the fall in the share price of Dangote Cement.
Dangote derives the majority of his wealth from his 86-percent stake in Dangote Cement.
Dangote’s net worth has dropped from nearly $20 billion to just $19 billion in the past 24 hours.
However, he remains one of the few billionaires who has seen impressive gains since the year began.
Dangote’s net worth is still up by $832 million this year.
Dangote owns an 86-percent stake in Dangote Cement Plc, Africa’s largest cement producer.
The $100-million increase in his net worth in June follows a $300-million decline in May.
Dangote owns an 86-percent stake in Dangote Cement, Africa’s largest cement producer.
But with his fortune of $20.3 billion, he remains Africa’s richest man.
Dangote derives nearly half of his $20-billion fortune from his 86-percent stake in Dangote Cement.
Dangote is the founder of Dangote Industries Limited, a Nigerian conglomerate with diverse interests.
The refinery project is still on track to be completed by 2023.