Africa’s richest man, Aliko Dangote has been given an appointment by the World Bank.
The World Bank appointed the President and Chief Executive of the Dangote Group to its Private Sector Investment Lab, aimed at driving job creation in emerging economies.
In a statement released on Thursday, Dangote, in his acceptance, reaffirmed his commitment to fostering sustainable economic growth through private sector-led investment, highlighting the transformative potential of such initiatives in developing markets.
“I am both honoured and excited to accept my appointment to the World Bank’s Private Sector Investment Lab, dedicated to advancing investment and employment in emerging economies,” the richest man in Africa said.
“This opportunity aligns with my long-standing commitment to sustainable development and unlocking the potential of developing economies. Drawing inspiration from the remarkable successes of the Asian Tigers, which have demonstrated the power of strategic investment and focused economic policy, I am eager to collaborate with fellow leaders to replicate such outcomes across other regions.”
Dangote’s appointment was announced by the World Bank on Wednesday as part of a broader expansion of its Private Sector Investment Lab, which is now entering a new phase aimed at scaling up solutions to attract private capital and generate employment in the developing world.
Joining Dangote in this elite group are Bill Anderson, CEO of Bayer AG; Sunil Bharti Mittal, Chair of Bharti Enterprises; and Mark Hoplamazian, President and CEO of Hyatt Hotels Corporation.
Earlier, the World Bank stated that the expanded membership brings together business leaders with proven track records in generating employment across developing economies, supporting the bank’s sharpened focus on job creation as a central pillar of global development.
“With the expanded membership, we are mainstreaming this work across our operations and tying it directly to the jobs agenda that is driving our strategy,” said World Bank Group President Ajay Banga. “This isn’t about altruism—it’s about helping the private sector see a path to investments that will deliver returns and lift people and economies alike. It’s central to our mandate.”
In 2023, Mark Carney, the Prime Minister of Canada, co-chaired the Private Sector Investment Lab, which focused on attracting £1 trillion in sustainable investment to support the energy transition in emerging markets.
