Talk Less, Act More: Dangote Shares Secret to Running a Successful Business in Africa

• Aliko Dangote has called on African business leaders to put more emphasis on action and tangible outcomes than on talk
• According to the billionaire, the continent has many resources and a young population significant for inclusive growth
• The wealthy businessman believes that Africa is at a significant historical turning point

Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market.

The head of the Dangote Group, Aliko Dangote, has urged African business leaders to go beyond discussion and instead focus on decisive action and real results.

Speaking at the African Renaissance retreat in Rwanda, Dangote stated that although the continent faces many difficulties, its youthful population and plenty of resources present prospects for big and inclusive growth.

“Additionally, we have 65% of the world’s arable land and 10% of the planet’s internal renewable freshwater sources,” he said.

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“Together these present a myriad of opportunities for robust, inclusive growth that harness our abundant human potential and natural resources to increase prosperity, not just in Africa but across the globe.”

Africa has potentials

Africa is going through a major historical turning point, according to the billionaire businessman.

According to Africa's wealthiest man, the continent has the world's youngest and fastest-growing population, rapidly developing cities, and a growing acceptance of innovation and new technologies like artificial intelligence.

According to him, the Dangote Group has grown from Nigeria to 14 nations on the continent, operating in a variety of industries such as petrochemicals, fertilisers, sugar, cement, oil refineries, and agriculture.

The business owner said that this was in spite of having to cope with a number of obstacles, including those related to visas, uneven policy changes, a lack of technical skills, essential infrastructure shortages, the foreign exchange crisis, inflation, capital costs, and other disputes of all sizes.

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“The good news is that despite these challenges, we have succeeded in building a pan-African Group that employs over 50,000 people and generates revenues that should exceed $30bn by the end of 2025,” he said.

Dangote, stated that he had long considered gathering a group of committed African business executives to discuss the problems facing the continent, come up with practical answers, and present Africa as an attractive place to invest despite its difficulties.

He emphasized that the retreat's goal was to provide a forum for group action to address a range of concerns, such as ongoing hostilities, food and energy security, supply chain interruptions, debt crises, and access to long-term concessional funding for development.

“This small private and high-level gathering to discuss these issues and align on how we will own and shape our narrative for development is long overdue,” Dangote said.

“With the foremost entrepreneurs on the continent, the leaders of the largest pan-African companies, those at the helm of the most important development institutions in Africa, our brothers and sisters leading global institutions, our leading investors, our pre-eminent civil society activists and a few of our most respected political leaders, this first step will be an opportunity to have a frank and honest dialogue amongst ourselves to consolidate what we see as our common ground.

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“We are coming together not just as leaders in our respective institutions but as visionaries and catalysts for transforming our societies. It is our collective responsibility to play our role in transforming our continent. Nobody will do it for us but us – especially us in this room.”

He conveyed optimism that the retreat will result in projects that have the potential to greatly influence Africa's future and its people.

Dangote begins another project

Legit.ng reported that the Dangote Cement Plc has announced plans to set up a multi-million naira skills acquisition development centre in Lokoja, Kogi State, to enhance empowerment and economic development.

President of the Dangote Group, Aliko Dangote, and the Kogi Statement conceived the project.

A statement from the Dangote Cement Corporate Communications Department and the Plant Director at the Dangote Cement, Obajana, Azad Nawabuddin, said the project will be completed in the coming months.

Source: Legit.ng