15 Facts About Dangote Every Businessman Should know

15 Facts About Dangote Every Businessman Should know

The name or brand “Dangote” doesn’t sound foreign to you, if it does then you are not a true Nigerian. I could even push further and say not a true African. But I wouldn’t, let’s stop in my country. Recognizing his name and the facts about Dangote means he is doing something right in the business world, hence, someone with his kind of experience with business has a few things about himself and his business that could inspire every businessman. Recently, I wrote about quotes from Dangote that are nugget worthy and will motivate you. In this article, I’ll share with you facts about Dangote and 15 things about him every businessman should know.

Who is Aliko Dangote?

Aliko Dangote is a 64years old business magnate and the richest man in Africa. He is the founder and CEO of the Dangote Group. He was born in Kano, Nigeria and his education was mostly in Egypt, Cairo.

Dangote comes from a well-known business inclined family, he is the grandson of Alhaji Alhassan Dantata; he was the richest person in Africa at the time he was alive. He ventured into business at the age of 21. Aliko Dangote owns the second-largest sugar refinery in the whole world, the largest cement factory in the world (again), one of the largest flour mills in the world, and the number two largest fertilizer plant in the world.

According to Forbes, Dangote is worth $14 billion and has maintained topping the list of the richest men in Africa for more than 10 years.

Dangote is a quintessential and successful businessman and a philanthropist.

next, I’ll be sharing with you the things every businessman should know about him. They will be factual as I will be adding his words to each point.

Things Every Businessman Should Know About Dangote

There are people who think that because Dangote is from a rich successful business family, he is privileged, and not every business owner can learn from him. This notion is understandable but stay with me, the things I’ll be sharing with you will probably change that notion.

Regardless of your money status or how long you’ve been a business person, there’s something you can adopt into your business from knowing these facts about Dangote.

1. Dangote Understands the Need for Passion

Here’s what he said during an interview with Bloomberg when he was asked to share a business hack.

We had already studied doing 300,000 barrels a day back in 2005. At that time I couldn’t even fathom a larger refinery. I had no financial capacity. Then in about 2010, we paid all Dangote Group’s debts, which amounted to $2 billion…We don’t want to listen to the critics, because their intention is to destroy us. We are using our own money. This is my lifetime project. I have to back it up with my own life to make sure it is delivered.

There is no way you can have a population of 320 million in West Africa and no self-sufficiency. So the first thing to do is food security. We have land, we have water, we have the climate—we shouldn’t be a massive importer of food. With modern farming, you can get 8 to 10 tons per hectare. I believe Dangote Group is in the right position to drive this trajectory.

This statement oozes passion from every angle. He had a huge amount of debt to pay but his passion for what he does as a business kept him going. Among many other things, It takes passion to keep at a business, especially failure to some extent looms.

Also, I believe that before a business, there’s a person behind it, and there’s a passion driving the business in the person. Do you get it?

2. Dangote is Hungry for Success and Confident While at it

In the interview he had with Bloomberg, he said a lot of inspiring things and I’ll point out one of them again.

Beginning in 2020 our major investment will be in the U.S. and Europe… Beginning in 2020, 60 percent of our future investments will be outside Africa, so we can have a balance.

Let’s say that by 2025, I’m looking at [putting in] between $20 billion and $50 billion [in Europe or the U.S].

Our business strategy has always been like that, yes. We don’t want to be No. 2 in anything that we do. We want to be No. 1. Worst case, we can be No. 2 but targeted to become No. 1

Put in mind, this was a well-successful man already.  Everyone knew how successful he was but, he was hungry for more success and it kept him on his toes to do more, be more, and have more.

3. Provide Valuable Goods and Services

When Dangote was asked why he chose to be involved with cement. His reply would shock you;

I think actually what I figured out was looking at the entire African continent, especially sub-Saharan, and saying, “What do we actually produce?” What I learned is that the majority of African countries imported cement. The better way, I thought, would be to empower Africa – to meet our own infrastructural needs so that we could be more self-sufficient.

Personally, I think this is where business owners get it wrong. They provide a service that is not a solution. Dangote realized a sector that was lacking and built a business up from there. Dear business owner, before venturing into a business, make sure to find what solution it will provide.

4. Dangote is Thoughtful

There’s a trend that goes on around business owners which is taking up an interest in selling what is trendy and popular.  Dangote thinks otherwise and he did differently. Here’s what he said:

The majority of people here made their money through oil. But Dangote has never ever dealt in oil, which is to prove that you don’t have to be in oil. In Nigeria, oil has really damaged our thinking. Everyone is thinking about oil, oil, oil. And we are one company that has made a success without doing that.

Business owners, you do not have to follow the trend of what other business people do. Look carefully, there’s something else to be done. Think deeply, relating to the previous point, there is a solution that people need, you just have to find it.

5. Dangote Is Bold and Daring

There’s a saying that, “only a bold man makes the bold moves”. Before a business gets successful, an entrepreneur must have taken a move that was out of their comfort zone. Can you think of yourself as being bold? No? A business person should be able to do this and this is one of the facts about Dangote that I find really inspiring as someone that is interested in business.

We make a lot of bold moves, which other people find really difficult to take. We always dream very big, and we’re committed to investing in Africa… the only way to move Africa forward is for people like us to take very bold moves. I never worry about being too bold. In business it’s good to be aggressive, but with a human face.

The above statement is what Dangote said in a recent interview.

6. Dangote is Consistent

What makes a business known for the value it has to offer is the consistency in the running of the business.

Dangote says:

To hold on to consistency, find ways to remove hitches that come with entrepreneurship.

7. Dangote Appreciates People and Hire the Smart Ones

I always make sure I hire people smarter than me.

A business only thrives when there are various heads with different brilliant task execution. Dangote is aware of this so he hires smarter people, that way, things get done with the help of these people’s brains.

8. Dangote Wants to Make People Happy

He said:

My grandfather once told me the soul of business is not making money, it is making people happy and I have held on to it

9. Dangote Embraces Competition

Don’t kill the competition. Competition is healthy for businesses. It keeps you the entrepreneur on your toes.

He sees competition as an opportunity to be better and do better.

10. Dangote Is a Big Dreamer but Knows the Importance of Starting Small

To build a successful business, you must start small and dream big

Any business has its early beginning which is definitely small. He encourages starting small with the hope that it gets big and better.

11. Dangote Makes Tough Decisions to Keep His Company Afloat

If I had challenges in my company, I would not hesitate to sell assets to remain afloat, to get to the better times, because it doesn’t make any sense for me to keep any assets and then suffocate the whole organization.

He is aware and knows when certain risks should be taken.

12. Dangote is Patient

You could easily tell that hard work and perseverance go hand in hand with patience. We often hear people say patience is worth it, yet we don’t practice it. I did and look how well it worked out for me.

Dear business owner, be patient. It takes time to build anything.

13. Dangote Makes Adequate Research About Business

The most dangerous thing for an entrepreneur to do is to actually go into a business that he does not understand fully.

Do not, I repeat, do not venture when you don’t understand. This is one of the facts about Dangote that I find admirable. Every business owner should do this

14. Dangote Started to Build With Ambition

If you don’t have ambition, you shouldn’t be alive.

Ambition is basically what you want from life. Dangote chose the business part and he followed through with it.

15. Dangote Knows When to Sleep

I cannot stress this enough, it’s okay to be passionate about your business but know when to sleep. Know when to rest and build the body. Dangote says:

Exercise is better than any medicine I can take; exercise and sleep.

Don’t wait until you fall sick, If the richest man in Africa prioritizes exercise and sleep, who are you not to?

Conclusion

Every single point and fact about Dangote in business can increase your process as a business owner, you just have to take what you need and make use of it.

While you are here, this is the best time to read the effective qualities every entrepreneur should have.

I wish you a successful business. Cheers to your growth!

FAQs

What is Dangote slogan?

“Building prosperity and self-sufficiency.”

What is Dangote full name?

Alhaji Aliko Dangote

How much does Dangote make in a day?

Dangote makes around 15 million a day

What is Dangote’s position in the world?

He is the richest man in the continent of Africa for 1, 2, 3…11th year. Yes, you are seeing right.

What type of company is Dangote?

Dangote is a Nigerian multinational industrial conglomerate and its position is the largest corporation in West Africa and also one of the largest in Africa.

What has Dangote done for Nigeria?

The list is quite lengthy but the most notable and world-recognized one is this; In the year 2021, Dangote (Cement sector) moved to erect the biggest cement plant in Africa in Southwest Nigeria. With this, It made Nigeria a cement exporting country.

Who gave Dangote money to start business?

His uncle; Sanusi Abdulkadir Dantata gave Dangote money to start business. Dangote was the one that actually requested the loan.

25 Dangote Quotes That Will Motivate You

25 Dangote Quotes That Will Motivate You

You probably stumbled on these 25 Dangote quotes that will motivate you, or you are just a fan of wealthy men (like Dangote) and their insights. Then, you are in the right place. Take a seat, get familiar with my tone and let’s get you motivated!

I think it’s safe to say that everyone is definitely going to be psyched to sit with a millionaire,(talk more of a billionaire) get to talk about what ticks their finances, their attitude with money and fame, how they do it, and tips sprinkled here and there. As a side package also, you might fancy being sent on your way with hampers and cash in an envelope, or even a written cheque. At the end of the day, the snacks and food items in the big hamper get exhausted and the money, you probably used to buy yourself new sets of clothes. What remains is the insight that has been shared with you. You might want to put that into practice. You might start to think, “if it worked for them, then I can learn something from it” and trust me, that’s brilliant!

There are gazillions of billionaires, rich and wealthy people but in this article (as you already guessed from the title), I’ll settle on sharing Dangote quotes that will certainly motivate you. Dangote is 64 years old, the chief executive officer of The Dangote Group, and the richest man in Africa. Yes, you saw right. His net worth is about $13.5 billion as of the beginning of this year.

Over the years, he has bagged experience and money, his quotes are definitely something to think about.

Just like our parent’s generation would say, “experience is the best teacher”, people with experience in a sector are the best teachers. They are there to motivate you and me, which is why Dangote’s sayings are one I hold dear to heart as it is filled with experience and motivations.

Before sharing this wealthy man’s sayings, You have found your purpose? But do you have the tenacity of purpose?

Tenacity of Purpose

Tenacity has several synonyms which include; determination, diligence, persistence, doggedness, and more. They all interpret it as never giving up or never stopping at trying.

While purpose is a person’s sense of resolve or determination. A combination of these words equates to being dogged with one’s purpose. If you are struggling with what your purpose is, you should check out these quotes that were made for you to read.

These Dangote quotes that I’ll be sharing with you real soon is a start, a push even,  to building your tenacity of purpose.

Let’s go!

25 Dangote Quotes That Will Motivate You

“In the journey to success, tenacity of purpose is supreme.”

“Don’t kill the competition. Competition is healthy for businesses. It keeps you the entrepreneur on your toes.”

“Every morning when I wake up, I make up my mind to solve as many problems before retiring home.”

“Endeavor to work as hard as possible to attain a new aim with each day that comes by. Don’t go to bed until you have achieved something productive.”

“I always make sure I hire people smarter than me.”

“To build a successful business, you must start small and dream big.”

“When you have made it in life, you must give back to those who made you.”

“In whatever you do, strive to be the best at it.”

“If I had challenges in my company, I would not hesitate to sell assets to remain afloat, to get to the better times, because it doesn’t make any sense for me to keep any assets and then suffocate the whole organization.”

“You could easily tell that hard work and perseverance go hand in hand with patience. We often hear people say patience is worth it, yet we don’t practice it. I did and look how well it worked out for me.”

“The most dangerous thing for an entrepreneur to do is to actually go into a business that he does not understand fully.”

“Passion is what drives me forward. Passion is what makes me go to bed at 2am and wake up at 6am.”

“Invest now, before it’s too late. The train is about to leave the station.”

“My grandfather once told me; the soul of business is not making money but making people happy.”

“What I always say is that money doesn’t have color. It doesn’t matter whether you are from Africa or anywhere in the world. The color of money is the same”

“If you don’t have ambition, you shouldn’t be alive.”

“You must have a vision and not just a vision but you must have a plan that would make you fulfill that vision”

“The number one thing that kills businesses in Africa is power – or the lack of power.”

“If I had challenges in my company, I would not hesitate to sell assets to remain afloat, to get to the better times, because it doesn’t make any sense for me to keep any assets and then suffocate the whole organization.”

“I always tried to move up the food chain. I started with cement and then moved into textiles and banking. When I was trading sugar, I added salt and flour so that we could do pasta. And then I thought, why not make the bag for it, too? So, we started making packaging”

“If people look inward, they will see the opportunities for greatness.”

“Exercise is better than any medicine I can take; exercise and sleep.”

“The real thing about wealth, what will make you enjoy it and be happy that yes you are rich, is how many lives you can touch while you are alive.”

“In whatever you do, strive to be the best at it.”

“I’m not in it for the money. No, no. I like to run a business that’s successful… I’m a very creative person.”

Conclusion

That was certainly an influx of motivation! I think every single quote is something to think about.

“In the journey of success, tenacity of purpose is supreme” and “The real thing about wealth, what will make you enjoy it and be happy that yes you are rich, is how many lives you can touch while you are alive.” are two of the Dangote quotes that stuck with me.

What about you? Share with me in the comment section and while at it, you might want to get prepped for things you should do as a business owner so you don’t fail at it!