Africa’s richest man and President of the Dangote Group, Aliko Dangote, has revealed that his first grandson is currently more interested in gaining professional experience outside the family conglomerate before joining the business.
Dangote disclosed this on Tuesday during an investor engagement organised for the proposed initial public offering of Dangote Petroleum Refinery with Kenyan and other East African institutional investors in Nairobi.
According to the industrialist, his grandson, an electrical engineer, wants to broaden his understanding of finance and business by working with global professional services firms KPMG or PwC before returning to the family company.
Dangote said, “My first grandson, he’s not finding it interesting to work with me for now. He wants to go and get experience with KPMG or PwC. Then after he’ll come and join us. He’s an electrical engineer, but he wants to go and learn about money first.”
The billionaire businessman also introduced his first daughter, Mariya Dangote, and her husband, Alassane, who attended the event, asking the couple to stand and acknowledge the gathering.
While describing Mariya as a shy person, Dangote spoke about the involvement of his family in the conglomerate and the importance of preparing the next generation for leadership.
He explained that the Dangote Group does not operate with 10-year plans, arguing that such long-term targets could encourage complacency because employees might consider the deadline too distant.
Instead, he said the conglomerate adopts five-year strategic plans involving its senior executives, including Group Vice Presidents Edwin and Alake, Group Chief Financial Officer Murat, David Bird and other directors.
Dangote’s three daughters, Mariya, Halima and Fatima, currently occupy executive positions within different areas of the conglomerate, which has major interests in cement, sugar, refining, fertiliser and manufacturing.
