By Ado Oyeyemi
Africa’s richest man and President of the Dangote Group, Aliko Dangote, has revealed that his first grandson is not yet interested in joining the family business, preferring to gain professional experience with global firms KPMG or PwC.
Dangote disclosed this on Tuesday during an investor engagement organised for the Dangote Petroleum Refinery’s initial public offering with Kenyan and East African institutional investors in Nairobi.
The business mogul said his grandson, an electrical engineer, wanted to develop his understanding of finance and gain experience outside the family conglomerate before eventually joining the business.
Dangote said, “My first grandson, he’s not finding it interesting to work with me for now. He wants to go and get experience with KPMG or PwC. Then after, he’ll come and join us.
“He’s an electrical engineer, but he wants to go and learn about money first.”
The industrialist also introduced his first daughter, Mariya Dangote, and her husband, Alassane, who were present at the event.
He described Mariya as a shy person before inviting the couple to acknowledge the audience.
Speaking about succession planning within the conglomerate, Dangote said the group did not operate with 10-year plans because such long-term targets could make people complacent, with the belief that there was still plenty of time to achieve them.
He said the company instead works with five-year plans developed with its top executives and directors, including Group Vice Presidents Edwin and Alaki, Group Chief Financial Officer Murat and David Bird.
Dangote’s three daughters, Mariya, Halima and Fatima, already occupy executive positions in different areas of the conglomerate, which has interests spanning cement, sugar, refining, fertiliser and manufacturing.
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The billionaire has previously stated that he does not consider having a male heir necessary for the continuation of the family business, expressing confidence that one or more of his daughters could eventually take charge of the conglomerate.
