Africa’s richest man and President of the Dangote Group, Aliko Dangote, has concluded plans to donate one-third of his wealth to charitable causes as part of a succession arrangement designed to sustain his philanthropic legacy beyond his lifetime.
The disclosure was made by his daughter, Halima Dangote, a trustee of the Aliko Dangote Foundation, during an interview with Bloomberg published on Tuesday.
According to the Bloomberg Billionaires Index, Dangote’s net worth is currently estimated at $35.1bn, meaning one-third of his fortune would amount to approximately $11.7bn if its value remains unchanged.
Halima said the business magnate had secured the consent of his family to dedicate 33 per cent of his estate to philanthropy, describing the decision as a central pillar of his long-term succession plan.
She explained that Dangote had established structures to ensure the foundation continues to prioritise investments in health and education for generations.
“He put all the structure in place whereby we focus a lot on health and education. He actually donated 25 per cent to the foundation. If you look at it, it is what we call in Sharia Code in Islam; it means he has donated 33 per cent of his whole inheritance to his foundation,” she said.
According to her, philanthropy has become an integral part of the family’s values, adding that Dangote believes the success of his business is closely linked to giving back to society.
“So giving back is part and parcel of what we do. We believe we’re here and our business is successful because of giving back and the philanthropic aspect. That is why the 33 per cent is important,” she added.
Halima further revealed that Dangote formally documented the arrangement in his will, which was endorsed by herself, her two sisters and their grandmother.
The planned donation builds on the billionaire’s existing charitable interventions through the Aliko Dangote Foundation, which was established in 1994.
She disclosed that the foundation received an endowment of $1.25bn about a decade ago and has since been strengthened with an additional $700m in funding.
According to her, about 70 per cent of the foundation’s spending is devoted to programmes in Nigeria, while 20 per cent supports projects across Africa, with the balance funding humanitarian initiatives in other parts of the world.
The foundation focuses on healthcare, education, nutrition and humanitarian relief, and has partnered with organisations, including the Bill & Melinda Gates Foundation and several northern state governments, on programmes that contributed to the eradication of wild poliovirus in Africa.
Dangote’s planned donation comes amid increasing global attention on billionaire philanthropy. Although the proposed 33 per cent allocation is below the 50 per cent benchmark associated with the Giving Pledge, it ranks among the largest philanthropic commitments ever announced by an African billionaire.
Earlier this year, TIME magazine named Dangote among the world’s most influential philanthropists in its inaugural TIME100 Philanthropy list, citing the Aliko Dangote Foundation’s annual spending of more than ₦50bn on charitable programmes across Africa.
'
'Do you want to share a story with us? Do you want to advertise with us? Do you need publicity for a product, service, or event? Contact us on WhatsApp +2348183319097 Email: platformtimes@gmail.com
We are committed to impactful investigative journalism for human interest and social justice. Your donation will help us tell more stories. Kindly donate any amount HERE
