Aliko Dangote, President and CEO of Dangote Group, has expressed his gratitude following his appointment to the World Bank’s Private Sector Investment Lab, a body focused on boosting investment and job creation in emerging economies
In a statement confirming his appointment, Dangote reiterated his commitment to driving sustainable economic growth through private sector investment. He emphasized the transformative power 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,” Dangote stated.
He further explained, “This opportunity aligns with my long-standing commitment to sustainable development and unlocking the potential of developing economies. Inspired by the successes of the Asian Tigers, which demonstrated the impact of strategic investment and economic policy, I am eager to work with fellow leaders to replicate similar outcomes across other regions.”
In 2023, the Prime Minister of Canada, Mark Carney, co-chaired the Lab, focusing on attracting £1 trillion in sustainable investment to support the energy transition in emerging markets.
The World Bank announced Dangote’s appointment on Wednesday as part of the expansion of its Private Sector Investment Lab, now entering a new phase aimed at scaling solutions to attract private capital and create jobs in developing economies.
Joining Dangote in this prestigious 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.
The World Bank highlighted that the expanded membership brings together business leaders with proven track records in generating employment in developing economies, supporting its intensified 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. 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,” said World Bank Group President Ajay Banga.
Over the past 18 months, the Lab has brought together leaders from global financial institutions to identify key barriers to private sector investment in developing countries and test actionable solutions. The work has now been consolidated into five priority focus areas, including regulatory and policy certainty, and is being integrated across the bank’s operations.
Dangote Group, founded by Aliko Dangote, is the largest conglomerate in West Africa and one of the largest on the African continent. With interests spanning cement, fertilizer, salt, sugar, and oil, the Group employs over 30,000 people and is Nigeria’s largest taxpayer, contributing more in taxes than all of the country’s banks combined. It is also the country’s largest employer after the government.
The $20 billion Dangote Petroleum Refinery & Petrochemicals, the Group’s flagship project, is the largest single private investment in Africa.
In addition to his business interests, Dangote leads the Aliko Dangote Foundation, the largest private foundation in sub-Saharan Africa, with the largest endowment by a single African donor. The Foundation focuses on child nutrition, health, education, empowerment, and disaster relief.
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Congrats
Good for him