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12/10/2013

Meet Africa's richest man, Aliko Dangote.

The richest person in Africa, according to African Ventures, is Nigerian Aliko Dangote, who made his estimated $20.2 billion through manufacturing. African Ventures reports that Dangote, 56, started building his fortune 30 years ago by trading in commodities such as flour, sugar, rice and cement. Early this century, he moved into manufacturing and the Dangote Group is now the largest manufacturing conglomerate in west
Africa with sugar refineries, salt processing facilities, a beverage plant and several cement factories across Africa.

In October last year, Tiger Brands acquired a controlling stake in Dangote’s flour milling company and in June last year the Public Investment Corporation acquired a 1.5 percent stake in the Dangote Group for $290 million. 

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