As Africans will develop Africa, Dangote Global Ceo lessons

The President/CEO of Dangote Industries Limited, Aliko Dangote, urged African entrepreneurs, company leaders and rich people to invest in the development of the continent.

Speaking while hosting participants in the Global Ceo Africa program of the Lagos Business School and Strathmore Business School, Nairobi, after a tour of the refinery and petrochemicals of Petroleum Dangote in Ibeju-Lekki, Lagos, Dangote stressed that with the right investments, Africa has the potential to grow and compete globally.

He said that what the continent needs are bold and transformative projects capable of dealing with his long -standing challenges. Citing the success of the success of the largest single-training refinery in the world-the oil refinery of the Dangote-such as proof that nothing is impossible, he claimed that similar results can be replicated in all sectors to guide economic growth.

Dangote was reflected on the initial skepticism surrounding the refinery project, observing that, despite numerous obstacles, the group remained firm in his commitment to deliver his vision.

“There will always be challenges. In fact, life without challenges is not exciting. You just hope that the type of challenges you can overcome, not those who overwhelm you,” he observed.

He explained that the completion of the refinery has encouraged the group to pursue even more ambitious goals: “Now that we have built this refinery, we believe that we can do anything. We aim to make our company of fertilizers the largest in the world and we prepared a temporal sequence of 40 months”.

Dangote has highlighted the wealth of Africa in both human and natural resources, underlining that corporate leaders are in a privileged position to exploit these resources and create jobs for the growing population of the continent. He said that development cannot be left alone to governments, urging the private sector to trust the national leadership and invest at home instead of moving capital abroad.

“We, like Africans, we have to stop taking our money abroad. We should invest it here to build our countries and the continent. As far as I’m concerned, I don’t take my money from Africa. If we do not show trust in our economies and leadership, foreign investors will certainly not do so. After all, we know our leaders best

While many African nations have reached political independence, Dangote claimed to remain economically employed. He mentioned countries such as Dubai and Singapore, which were on par with some African countries in the 70s, but they climbed in advance through deliberate policies and partnerships with visionary entrepreneurs.

Dangote has expressed concern about the disparity between the rapid growth of Africa and the limited job opportunities available. He asked for a strong banking sector, a solid manufacturing base and a flourishing agricultural sector as milestones of the transformation of the continent.

He also underlined the importance of a better interconnenetivity among the African nations, revealing that it is currently cheaper to import goods from Spain than transporting the Cement Clinker from Nigeria to nearby Ghana.

Recognizing political inconsistency and infrastructure challenges, Dangote has encouraged the CEO on a visit not to be discouraged but to remain ambitious, acquiring a profound knowledge of the respective industries.

“If you think in a small way, don’t grow up. If you think big, you grow up. It is better to try to fail than never try at all,” he recommended the 24 CEOs present from six African countries.

The academic director of the CEO Africa Global Africa program at the Lagos Business School, Patrick Akinwuntan, explained that the initiative is designed to inspire the future African company leaders.

The program, in collaboration with Nairobi’s Strathmore Business School, includes three modules, which require participants to spend a week each in Nairobi (Kenya), Lagos (Nigeria) and New Haven (USA).

“The goal is to cultivate corporate leaders who see Africa as a single market, one without borders, focused on the vast potential of the continent. The refinery is a powerful symbol that the vision goes beyond the simple view,” he said.

Akinwuntan, who is also the former CEO of Ecobank Nigeria, has praised Dangote for his integrity, competence and audacity in bringing to completion such a monumental project.

Executive dean of the Strathmore Business School, dr. Caesar Mwangi, echoed to these feelings. He said the visit would inspire CEO to realize that only Africans can truly develop the continent.

“This refinery is the largest single training refinery in the world. It is proof that we have to dream big, thinking big and, above all, activates. If the Dongote Group can achieve this, then the others also in the whole continent,” said Mwangi.

“Every CEO here can bring this inspiration back to home and start impact projects that will raise our continent and create opportunities for the millions of young Africans who need it,” he added.

Dean of the Lagos Business School, prof. Olayinka David-West, said that the visit in line with the school mission to govern leaders capable of dealing with the complex social and institutional challenges of Africa.

He praised Dans as a visionary leader who mobilizes the resources to face the critical problems of the continent. He observed that the chain effect of the refinery extends beyond the production of oil, improving the means of subsistence and national well -being.

“This structure is fundamental. It is used as a practical tool to implement framework such as the African Continental Free Trade Area (AFCFTA). While it is a project, its effects will be warned in several sectors,” he explained.

Dr. Rabiu Olowo, CEO of the Nigeria Financial Reference Council and a participant in the program, said that the visit has rekindled the need for bold and courageous thought in pursuing a sustainable national development.

The visiting CEO also included the Global Banking Leader Segun Aina; CEO of Family Bank, Nairobi, Nancy Njau; Executive director and financial director for Cameroon, Cemac and Cesa Region in Ecobank, Emmanuel Wakili; And former president of the CFA Society Nigeria, Ibukun Oyedeji, among others.