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Aliko Dangote’s net worth inches closer to $20 billion – Report

The surge in Dangote Cement shares, driving Dangote’s net worth toward the $20-billion milestone, reinforces the cement magnate’s formidable stature in Africa’s business arena, cementing his dominance as the richest man on the continent for the foreseeable future.

According to the Bloomberg Billionaires Index, which tracks and compares the fortunes of the world’s 500 wealthiest people, the Nigerian billionaire businessman’s net worth has risen by nearly $1 billion ($958 million) since the start of the year, from $18.7 billion on Jan. 1 to $19.7 billion at the time of writing this report.

The performance of his 86-percent stake in his flagship company, Dangote Cement Plc, a leading cement manufacturer with a total production capacity of 51.55 million metric tonnes of cement per year across 10 countries, is responsible for the $958-million increase in his net worth.

Since the year began, the company’s share price has increased by more than 9.2 percent, from N261 ($0.567) to N285 ($0.619), bringing the market value of Dangote’s 86-percent stake in the cement maker to $9.06 billion.

Dangote Cement records profits surpassing $800 million in 2022

The recent surge in Dangote Cement’s stock price can be attributed to the company’s impressive financial performance.

The leading cement manufacturer reported a 4.9-percent increase in profits, from N364.44 billion to N382.31 billion ($830.3 million), due to higher revenue and successful negotiations that reduced its tax expense from N173.9 billion ($377.7 million) to N142.7 billion ($310 million) compared to the previous year.

In keeping with its long-standing tradition of rewarding shareholders with substantial dividend payouts, the company’s board has recommended a dividend of N20 ($0.0434) per share, which is consistent with the dividend paid to shareholders in 2022.

The final dividend payout is scheduled for April 14, and Dangote, with his majority stake in the cement company, is set to receive a dividend of N295 billion ($640.6 million).

Source: billionaires.africa

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. In addition to his media ventures, Solomon serves as a Brand Ambassador for Alabuga, a prominent Russian industrial company, representing their interests and expansion across Africa. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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