Dangote Group
US$4.1 billion (2017)[1] | |
Number of employees | 30,000 |
---|---|
Website | dangote.com |
The Dangote Group is a Nigerian multinational industrial conglomerate, founded by Aliko Dangote.[2] 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 US$4.1 billion in 2017.[2]
History
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.[3] 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. The company next moved into cement production, growing rapidly and moving into other African countries. A high degree of vertical integration is a hallmark of Dangote Group's operating strategy.[citation needed]
The group now owns and operates over 18 subsidiaries, operating in ten African countries.
In 2016, Dangote signed a contract with CNOOC Group for the installation of a large underwater offshore pipeline. The pipeline, when completed, will extend from Bonny (Rivers State) through Ogedegbe, Olokola to Lekki and the Escravos Lagos pipeline, finally terminating at the West Africa Gas Pipeline.[5]
Overview
Dangote Group was created in the late 1970s, when Aliko Dangote established a venture that traded sugar and other consumer goods, which was funded by a $3,000 loan from his grandfather.[2] Later, the group would gradually expand into trading other commodities, such as rice.[6] In 1981, he established two business enterprises, Dangote Nigeria Limited, and Blue Star Services, this was a period when import licenses were required to import bulk commodities, the firm then sought to acquire import licenses for various commodities including steel, baby food, and aluminium products.[6] He then added the shipping and the importing of cement to his group's portfolio.[2] Dangote competed (and competes) with Lafarge, a French company that imported and produced the bulk of African cement.[7]
When the import license era was discontinued in 1986, the firm concentrated in bulk importing of salt, sugar, and rice and gradually reduced its cement business.[6]
Manufacturing
The group's first foray into manufacturing began in 1989 with textiles Mills Limited, operating two operations, a textile weaving mill in Kano and the Nigerian Textile Mills limited's plant in Lagos.
Today, Dangote Group is a diversified conglomerate, headquartered in Lagos, with interests across a range of sectors in Africa.[9][10] Current interests include cement, sugar, flour, salt, seasoning, pasta, beverages and real estate, with new projects in development in oil and natural gas, telecommunications, fertilizer and steel.[7][11][9][12] Competitors in both Nigeria and other portions of Africa include Stallion Group.[13]
Subsidiary companies
Dangote Sugar is another major subsidiary of Dangote, competing with Bua Refinery Ltd. and Golden Sugar Co.[7] Dangote Sugar is the largest sugar refining company in sub-Saharan Africa.[16]
Petrochemicals
The group has also diversified into oil and gas-related ventures, establishing a 3 million tonnes fertilizer plant, petroleum refinery capable of refining 650,000 barrels of oil and a petrochemical operation.[8] Dangote Refinery was inaugurated in May 2023, and is the largest refinery in Africa at full capacity.[17][18]
Nigerian businesses
Firm[19] | Sector |
---|---|
Dangote Sugar | Consumer goods |
Dangote Pasta | Consumer goods |
National Salt Company (NASCON) | Consumer goods |
Dangote Classic Seasoning | Consumer goods |
Dangote Oil and Gas | Business support |
Dansa Foods | Agro-allied |
Dangote Transportation | Logistics |
Dangote Agro-sacks | Business support |
Greenview Development | Port management |
Savannah Sugar | Agro-allied |
MHF Properties[20] | Property development |
See also
- Dangote Foundation
- Aliko Dangote
- Dangote Cement
- Halima Dangote
References
- ^ Okafor, Prince (23 February 2018). "Dangote Group's revenue exceeds $4.1bn in 2017". Vanguard Nigeria. Retrieved 14 April 2018.
- ^ a b c d Okeowo, Alexis (7 March 2013). "Africa's Richest Man, Aliko Dangote, Is Just Getting Started". Bloomberg. Retrieved 25 October 2016.
he did, however, receive a loan of a little more than $3,000 from his uncle to start a trading enterprise in food staples
- ^ Bello, Olushola (2021-05-25). "Nigeria: Dangote Investments Generate Employment Opportunities". allAfrica.com. Retrieved 2022-02-09.
- ^ "LIONS ON THE MOVE II:REALIZING THE POTENTIAL OF AFRICA'S ECONOMIES". McKinsey Global Institute. 7 September 2016. Retrieved 20 April 2018.
- ^ "Dangote pipeline job in Nigeria a welcome boost for COOEC". Energy mix report. 16 December 2016. Archived from the original on 26 July 2018. Retrieved 26 July 2018.
- ^ OCLC 319061547.
- ^ a b c Akingbade, Akinkunmi (29 September 2016). "As things stand, Nigeria will not achieve its 2023 sugar self-sufficiency plan". Ventures Africa. Retrieved 25 October 2016.
- ^ a b c d e Edwin (March 9, 2015). "Edwin - How We Built Dangote Group Into Largest Manufacturer in Africa" (Interview). Interviewed by Crusoe Osagie.
- ^ a b Nsehe, Mfonobong (2 April 2015). "Africa's Richest Man Aliko Dangote Enters Joint Venture With Italian Giant Saipem". Forbes. Retrieved 25 October 2016.
- ^ Nsehe, Mfonobong (4 September 2016). "Africa's Richest Man Aliko Dangote To Invest $170 Million In Rice, Sugar Production In Nasarawa". Forbes. Retrieved 25 October 2016.
- ^ Hirsch, Afua (3 April 2012). "Africa's richest man is cementing his place in history". The Guardian. Retrieved 25 October 2016.
- ^ Dangote Group Ventures Into Fertilizer
- ^ Saritha, Rai (23 September 2015). "Dubai-Based Billionaire Vaswani's Stallion Group Wants To Dominate Nigeria And All Of West Africa". Forbes. Retrieved 25 October 2016.
- ^ Dangote Group's Cement Operations Span Six African Countries
- ^ The Zambian Cement plant has started its operations.Nigerian Tycoon To Invest $400 Million In Zambia Cement Plant Archived 2016-10-26 at the Wayback Machine
- ^ Ochelle, Felicia Omari (9 November 2015). "Dangote Sugar has a new Managing Director". Ventures Africa. Retrieved 25 October 2016.
- ^ "Billionaire's huge Nigerian oil refinery likely delayed until 2022: sources". Reuters. 10 August 2018. Retrieved 13 October 2018.
- ^ "Africa's richest man launches $20billion refinery". CNN.
- ^ "Our Businesses – Dangote Industries Limited". Archived from the original on 2019-07-27. Retrieved 2019-09-15.
- ^ "MHF Properties". Retrieved 2020-08-28.