The President and Chief Executive of Dangote Group, Aliko Dangote, has been appointed to the World Bank’s Private Sector Investment Lab, joining a select group of global business leaders tasked with accelerating investment and job creation in emerging economies.
The World Bank announced Dangote’s appointment as part of a broader expansion of its Private Sector Investment Lab which is entering a new phase aimed at scaling up solutions to attract private capital and promote economic development.
Other newly appointed members include Bill Anderson, CEO of Bayer AG, Sunil Bharti Mittal, Chair of Bharti Enterprises and Mark Hoplamazian President and CEO of Hyatt Hotels Corporation.
Confirming his acceptance, Dangote expressed his commitment to supporting sustainable economic growth through private sector-led initiatives.
He highlighted the transformative potential of strategic investments in developing markets, drawing inspiration from the success of the Asian Tigers.
“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 said.
“This opportunity aligns with my long-standing commitment to sustainable development and unlocking the potential of developing economies.”
The World Bank noted that the expanded advisory group brings together business leaders with proven track records in driving employment and economic growth in developing countries.
The move is intended to mainstream private sector investment strategies across World Bank operations with a renewed focus on job creation.
World Bank Group President Ajay Banga stated that the initiative is designed to encourage private sector investments that deliver returns while lifting people and economies.
He emphasized that the Lab’s expanded mandate ties directly into the Bank’s sharpened focus on creating jobs as a pillar of global development.
“This is not about altruism. It is about helping the private sector see a clear path to investments that yield returns and drive economic advancement,” Banga said.
Over the past 18 months, the Private Sector Investment Lab has worked with leaders from global financial institutions to identify barriers to private investment in developing economies.
The Lab has since consolidated its work into five priority areas focused on regulatory certainty and policy reforms.
Dangote’s appointment further cements his position as a leading figure in global business and development.
His conglomerate, the Dangote Group, remains West Africa’s largest and one of the most diversified on the African continent with interests in cement, fertiliser, sugar, salt and oil refining.
The Group is also Nigeria’s largest employer after the government and the largest private taxpayer in the country.
Dangote’s flagship $20 billion Dangote Petroleum Refinery and Petrochemicals project is the largest single private investment in Africa and is expected to impact Nigeria’s energy sector and broader economy.
Beyond his business ventures, Dangote leads the Aliko Dangote Foundation, the largest private foundation in sub-Saharan Africa, focusing on child nutrition, health education and disaster relief.
His appointment to the World Bank’s advisory group reflects a growing recognition of the vital role African business leaders play in shaping global economic strategies and driving sustainable growth in emerging markets.
Leave a Comment