The chairman of Dangote Group and Africa’s richest man, Aliko Dangote, on Tuesday, September 15, revealed that he has lived in his current home for 36 years, with no plans to move because he is comfortable there.
Dangote disclosed this while speaking about his lifestyle, business interests, and his views on wealth and investment.
“You know how long I’ve been here? Thirty-six years. I don’t plan on leaving. I’m very comfortable here,” Dangote said.
According to the billionaire, he is generally content with his home and does not feel the need to constantly seek out new luxuries.
“Once I come in in the evening, it’s difficult to take me out of my house,” he said.
Dangote also spoke about the spending habits of some wealthy Africans, criticising those who acquire private jets without investing in productive ventures such as factories.
“What I see is people now owning aircraft all over the place, flying all over, and they don’t have one single factory,” he said.
“So it means that they’re not actually helping in growing the economy, and that has to change.”
He said his priority was to use his wealth and business interests to contribute to the industrialisation of Africa, stressing that his biggest legacy would be to help build productive capacity on the continent.
Dangote also said foreign investors were increasingly interested in Africa but needed large-scale investment opportunities capable of attracting substantial capital.
“Foreigners are very interested now; they want to invest in Africa, but they don’t have big-ticket items,” he said.
“So right now, they have started seeing big-ticket stuff, and they will join. And we will join to develop our own continent, Africa.”
He said the continent’s development required a shift in private capital from symbols of personal wealth towards factories and other productive assets capable of creating jobs, expanding manufacturing capacity and driving wider economic growth.
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