World Bank Appoints Dangote to Private Sector Investment Lab

The World Bank announced Mr Dangote’s appointment on Wednesday as part of a broader expansion of its Private Sector Investment Lab, which now enters a new phase aimed at scaling up solutions to attract private capital and create jobs in the developing world.

With this appointment, Mr Dangote has joined a select group of global business leaders, which include the chief executive of Bayer AG, Mr Bill Anderson; the chairman of Bharti Enterprises, Mr Sunil Bharti Mittal; and the chief executive of Hyatt Hotels Corporation, Mr Mark Hoplamazian.

In his acceptance of the honour bestowed on him, the African industrialist reaffirmed his commitment to fostering sustainable economic growth through private sector-led investment, noting 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.

 “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,” Mr Dangote stated.

The World Bank said the expanded membership brings together business leaders with proven track records in generating employment in developing economies—supporting its 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.

“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,” the president of the World Bank Group, Mr Ajay Banga, stated.

Mr Dangote established the largest conglomerate in West Africa, the Dangote Group, with interests spanning cement, fertiliser, salt, sugar, and oil.

The organisation employs over 30,000 people and is the largest taxpayer in Nigeria—contributing more in taxes than all of Nigeria’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, stands as the largest single private investment in Africa.

In addition to his business interests, Mr Dangote leads the Aliko Dangote Foundation (ADF), the largest private foundation in sub-Saharan Africa, with the largest endowment by a single African donor.

The foundation primarily focuses on child nutrition, while also supporting interventions in health, education, empowerment, and disaster relief.