•Tasked with Boosting Jobs in Emerging Economies
Africa’s richest man and President of the Dangote Group, Aliko Dangote, has been appointed to the World Bank’s Private Sector Investment Lab, joining an exclusive circle of global business leaders entrusted with the mission of catalysing investment and job creation in emerging markets.
Dangote’s selection, announced by the World Bank on Wednesday, marks a major milestone in the institution’s push to harness private sector expertise to address pressing economic challenges in developing regions.
The Investment Lab, now entering a new phase of its operations, seeks to scale innovative, private capital-led solutions that spur inclusive economic growth.
In a statement acknowledging the appointment, Dangote expressed both gratitude and determination to contribute meaningfully to the initiative’s goals.
“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.
“This opportunity aligns with my long-standing commitment to sustainable development and unlocking the potential of developing economies.
“Drawing inspiration from the remarkable successes of the Asian Tigers, which have demonstrated the power of strategic investment and focused economic policy, I am eager to collaborate with fellow leaders to replicate such outcomes across other regions,” he said.
Dangote brings to the table a formidable record of driving industrial growth and job creation in Africa.
Through his conglomerate, the Dangote Group, the largest in West Africa, he oversees diverse operations spanning cement, fertiliser, sugar, salt, and oil.
The company employs over 30,000 people and is Nigeria’s largest non-government employer and top corporate taxpayer.
His company’s $20 billion Petroleum Refinery & Petrochemicals project, recently completed, stands as Africa’s largest single private investment, an emblem of what the private sector can achieve with the right vision and capital.
Beyond business, Dangote also champions humanitarian causes through the Aliko Dangote Foundation (ADF), the largest private foundation in sub-Saharan Africa.
With the biggest endowment by any African donor, the Foundation primarily focuses on child nutrition, health, education, and disaster response initiatives.
Dangote joins a distinguished group that includes Bill Anderson (CEO of Bayer AG), Sunil Bharti Mittal (Chair of Bharti Enterprises), and Mark Hoplamazian (President and CEO of Hyatt Hotels Corporation), among others.
Together, they are expected to guide the World Bank’s evolving strategy to attract private capital to developing nations.
Commenting on the Lab’s new direction, World Bank Group President, Ajay Banga underscored the importance of leveraging the private sector for economic transformation.
“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.
“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,” Banga stated.
Since its inception, the Lab has convened leading figures from the financial world to tackle the obstacles hindering private investment in developing countries.
Its efforts have culminated in five strategic focus areas, including regulatory and policy certainty, now being embedded across World Bank projects.
Founding members of the Lab include executives from global powerhouses such as AXA, BlackRock, HSBC, Temasek, Standard Bank, and Tata Sons.
The group is chaired by Shriti Vadera, Chair of Prudential plc.
With Dangote now in its ranks, the Lab signals a stronger commitment to African voices in shaping the global investment agenda, underscoring the continent’s potential and the pivotal role of visionary leadership in unlocking it.
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