Aliko Dangote, President and Chief Executive Officer of the Dangote Group, has expressed deep appreciation following his appointment to the World Bank�s Private Sector Investment Lab�an initiative designed to accelerate private investment and job creation in emerging and developing economies around the world.
In an official statement confirming his acceptance of the role, Dangote emphasized his enduring commitment to fostering sustainable economic development through private sector-led investment. He underlined the significant potential such initiatives hold for transforming developing markets and driving inclusive growth.
�I am both honoured and excited to accept my appointment to the World Bank�s Private Sector Investment Lab, which is dedicated to advancing investment and employment opportunities in emerging economies,� Dangote stated. �This appointment resonates strongly with my long-standing commitment to the development of Africa and other emerging regions through strategic private sector engagement.�
He further noted that this new responsibility aligns with his personal and professional mission to unlock the immense potential of developing nations, citing the remarkable rise of the Asian Tigers as a model worth emulating. �The trajectory of the Asian Tigers has demonstrated the profound impact of strategic investment and targeted economic reforms,� he said. �I look forward to working with fellow global business leaders to replicate similar successes in other regions, particularly across Africa, where the need and potential are both significant.�
The World Bank announced Dangote�s appointment on Wednesday as part of a broader expansion of its Private Sector Investment Lab. This new phase of the Lab�s work seeks to scale up innovative strategies aimed at overcoming the major barriers to private capital flow and job creation in low- and middle-income countries.
Dangote joins an esteemed group of global business leaders, including Bill Anderson, CEO of Bayer AG; Sunil Bharti Mittal, Chair of Bharti Enterprises; and Mark Hoplamazian, President and CEO of Hyatt Hotels Corporation. Their collective expertise and track record in fostering employment and sustainable economic growth in developing regions are expected to significantly bolster the Lab�s efforts.
According to the World Bank, the expanded Lab reflects a strategic shift toward embedding job creation into the heart of its global development agenda. �This isn�t about altruism�it�s about helping the private sector see a clear path to profitable investments that also uplift communities and drive economic growth,� said Ajay Banga, President of the World Bank Group. �It is central to our mandate and to the future of sustainable development.�
The Lab has spent the past 18 months convening leaders from major financial institutions and global corporations to diagnose the most critical challenges facing private investors in the developing world. This collaborative effort has led to the identification of five priority focus areas, including regulatory and policy certainty, which are now being integrated into World Bank operations worldwide.
The appointment also highlights the remarkable legacy of the Dangote Group, West Africa�s largest industrial conglomerate and one of the most influential businesses on the African continent. Founded by Aliko Dangote, the Group operates in key sectors such as cement, fertilizer, sugar, salt, and oil, and currently employs more than 30,000 people. It holds the distinction of being Nigeria�s largest private sector employer and its single largest taxpayer�contributing more in tax revenue than all Nigerian banks combined.
The Group�s flagship project, the $20 billion Dangote Petroleum Refinery & Petrochemicals complex, represents the largest single private investment in Africa and is expected to play a transformative role in regional energy security and industrial development.
In addition to his business achievements, Dangote leads the Aliko Dangote Foundation�the largest private philanthropic foundation in sub-Saharan Africa. With the largest endowment by any African donor, the Foundation is primarily focused on combating child malnutrition and also supports initiatives in health, education, economic empowerment, and disaster relief.
Dangote�s appointment to the World Bank�s Lab underscores the growing recognition of Africa�s private sector leaders as pivotal actors in global development and economic transformation. As the Lab enters its next phase, Dangote�s insights and experience are poised to contribute meaningfully to shaping a more inclusive and investment-friendly future for emerging economies.
