Title: Aliko Dangote, from the devaluation of the Naira to expansion projects: a fortune in motion.
Introduction :
Aliko Dangote, Nigerian billionaire and Africa’s richest man, is going through financial fluctuations due to the devaluation of the Naira, the national currency. His fortune recently recorded a decline of nearly $6 billion, from $21 billion to $15 billion. This tumble is the biggest since 2014, and it is linked to the abolition of the dual exchange rate in Nigeria, which led to a technical devaluation of the Nigerian currency.
Details of Aliko Dangote’s fortune:
The Bloomberg Billionaire Index, used to calculate Dangote’s assets, reveals that his fortune is made up of a part in cash, including all currencies, and another part comprising the value of different Naira stakes in companies. . These holdings include the Dangote Cement Group, Nigeria’s largest industrial company, worth $7.5 billion, and a recent fertilizer plant worth $5.4 billion.
Future prospects for Dangote:
Despite this drop in his fortune, Aliko Dangote is expected to retain his status as the richest man in Africa for some time. Indeed, it foresees the full operationalization of its refinery and fertilizer plant in the near future. These expansion projects should help consolidate its financial position and generate new revenues.
Conclusion :
Aliko Dangote, despite the devaluation of the Naira having impacted his fortune, remains a major player in the African economy. His expansion plans and holdings in key sectors, such as cement and fertilizers, secure his place as an influential and wealthy businessman across the continent