The President and Chief Executive of the Dangote Group, Aliko Dangote, has expressed gratitude over his appointment to the World Bank’s Private Sector Investment Lab, a body tasked with boosting investment and job creation in emerging economies.
In a statement confirming his acceptance, Dangote 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,” he said.
Dangote added, “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.”
In 2023, Canada’s Prime Minister, Mark Carney, co-chaired the Private Sector Investment Lab, a global initiative aimed at mobilizing £1 trillion in sustainable investment to drive the energy transition in emerging markets.
On Wednesday, the World Bank announced the appointment of Nigerian industrialist Aliko Dangote as part of an expanded phase of the Private Sector Investment Lab. This new phase is focused on scaling up efforts to attract private capital and boost job creation in developing countries.
Dangote joins a distinguished group that includes Bill Anderson, CEO of Bayer AG; Sunil Bharti Mittal, Chair of Bharti Enterprises; and Mark Hoplamazian, President and CEO of Hyatt Hotels Corporation.
According to the World Bank, the expanded Lab brings together influential business leaders with strong track records in job creation within developing economies, aligning with the institution’s intensified focus on employment as a cornerstone of global development.
“With this expanded membership, we are integrating this work across all our operations and directly linking it to our jobs agenda,” said World Bank Group President Ajay Banga. “This isn’t just about doing good—it’s about helping the private sector identify investment opportunities that generate returns while driving economic growth.”
Over the past 18 months, the Lab has convened top executives from global financial institutions to pinpoint key obstacles to private sector investment in developing nations and to test practical, scalable solutions. The initiative has since identified five core areas of focus, including improving regulatory and policy certainty, now being embedded into the Bank’s broader operations.
The World Bank’s statement highlighted the significant economic footprint of the Dangote Group, which was founded by Aliko Dangote. As the largest conglomerate in West Africa and one of the largest in Africa, the Group operates across sectors such as cement, fertiliser, sugar, salt, and oil, employing over 30,000 people. It is also Nigeria’s largest private-sector taxpayer, contributing more in taxes than the entire banking sector combined.
Among the Group’s landmark projects is the $20 billion Dangote Petroleum Refinery & Petrochemicals, the largest single private investment on the African continent.
Beyond his business ventures, Dangote also leads the Aliko Dangote Foundation—the biggest private foundation in sub-Saharan Africa. Backed by the largest endowment from a single African donor, the Foundation focuses primarily on child nutrition, while also supporting health, education, economic empowerment, and disaster relief initiatives.
