Meet The Richest African Billionaire And How He Made His Fortune

A lot of rumor, and undying heated argument, has been going between a lot of people about the african richest billionaire Aliko Dangote, success story beign rags-to-riches story, before he made his fortune as the richest man in Africa.

But the truth of the fact remains that, Aliko Dangote was never poor, infact his uncle Aliyu Dantata, was one of the richest business man in the north back then, and still one of the richest family in the northern part of Nigeria till today.

Dangote grew up in an entrepreneur household, after he completed his university education in Egypt, he managed to convince his uncle to borrow him a sum of $3000 to venture into his business of importing of conglomerate product, such as rice from Thailand and sugar from Brazil,which he normally sell to people in his neighborhood. 

Dangote also told Forbes in an interview that, on his best days, he was realizing a net profit of $10,000, which allow him to repay his uncle back within a period of three month after he ventured into the business.

After sometime, Dangote realised being a middleman was tedious, so he decided to build a plant to produce what he had been importing from the previous years.His decision led to a huge success for him, as his sugar refinery is the third largest sugar producing reffinery in the world with over 800,000 tones of sugar annually.Today, Dangote is the largest conglomerate in Africa,with major of his operation in Nigeria,Ghana,Togo and Benin.

In 2007, Dangote bought an oil refinery in Lagos, a $10billion project, that was proposed to be completed by 2020. Which will be producing 650,000 barrel per day. The $10billion he invested on this project, his a little bit more than his net worth, which is around $8.3billion.

Till today, Dangote is still the richest black man and also richest man in the whole of Africa.

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