Aliko Dangote, President and Chief Executive of the Dangote Group has expressed his appreciation following his appointment to the World Bank’s Private Sector Investment Lab—an initiative aimed at accelerating investment and job creation across developing markets.
In a statement announcing his acceptance, Dangote reaffirmed his dedication to driving sustainable economic growth through private-sector-led initiatives, highlighting the transformative potential of strategic investments in emerging economies.
“I am deeply honoured and excited to join the World Bank’s Private Sector Investment Lab, which is committed to fostering investment and employment opportunities in developing nations,” he said. “This role aligns with my lifelong passion for sustainable development and for unlocking the potential of emerging markets. Inspired by the remarkable progress of the Asian Tigers, I look forward to collaborating with global leaders to replicate such success across other regions.”
The Private Sector Investment Lab, co-chaired in 2023 by former Canadian Prime Minister Mark Carney, was initially tasked with mobilising £1 trillion in sustainable investment to support the energy transition in developing economies. Dangote’s appointment comes as the Lab enters a new phase, expanding its mission to scale up strategies that attract private capital and create millions of jobs.
Joining Dangote in the newly expanded group are Bill Anderson, CEO of Bayer AG; Sunil Bharti Mittal, Chair of Bharti Enterprises; and Mark Hoplamazian, President and CEO of Hyatt Hotels Corporation. The World Bank said the new members were selected for their proven success in generating employment and fostering development in emerging economies.
“This is not about charity—it’s about helping the private sector identify viable investment opportunities that generate returns while uplifting people and economies,” said World Bank Group President, Ajay Banga. “It’s central to our mission.”
Over the past 18 months, the Investment Lab has worked closely with leaders from global financial institutions to identify key barriers to private sector investment in developing markets and to pilot practical solutions. The Lab’s efforts have now crystallized into five priority areas, including promoting regulatory and policy certainty, which are being systematically integrated into the Bank’s operations.
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Dangote’s inclusion in the prestigious group underscores his influence in global business. The Dangote Group, founded by Aliko Dangote, stands as the largest conglomerate in West Africa and among the biggest on the African continent. With investments spanning cement, fertiliser, sugar, salt, and oil, the Group employs more than 30,000 people and is Nigeria’s largest taxpayer—contributing more to the national coffers than all Nigerian banks combined. It is also the country’s biggest private employer after the government.
One of the Group’s landmark achievements is the $20 billion Dangote Petroleum Refinery & Petrochemicals, hailed as the largest single private investment in Africa.
Beyond his corporate pursuits, Dangote also leads the Aliko Dangote Foundation, the largest private philanthropic organisation in sub-Saharan Africa. Backed by the largest endowment from a single African donor, the Foundation focuses primarily on tackling child malnutrition, while also supporting health, education, economic empowerment, and disaster relief initiatives.
