Cement billionaire Dangote eyes Arsenal

aliko dangote

Nigerian billionaire Aliko Dangote is said to be looking to buy English Premier League side, Arsenal.

Hailing from Kano, northern Nigeria, the 58-year-old businessman is Africa’s richest man having amassed a fortune of $15.6 billion (£10.3bn), according to Forbes.

His wealth, which puts him at number 67 in a world ranking of billionaires, is entirely of his own making.

Born into a merchant family that ran a business exporting kola and ground nuts, Dangote wasted no time starting his own empire.

After gaining a business degree from Al-Azhar University in Egypt, he founded his own business in 1978 trading rice, sugar and cement with a loan of around $3,000 from his uncle.

Dangote later expanded the business into manufacturing, helping to build it into a powerhouse in West Africa.

Today the firm has market value of more than $24 billion, making it the largest company on the Nigerian Stock Exchange. It has a presence in 16 African countries. Cement remains the driving force of the company, with about 80% of its revenue made through the substance.

His success has led to accolades including being named the Most Powerful Man in Africa by Forbes. Last year he also featured in Time Magazine’s 100 Most Influential People in the World.