Africa’s richest man and President of Dangote Industries Limited, Aliko Dangote, has revealed that he has lived in his current home for 36 years and has no plans to move because he remains comfortable there.
Dangote disclosed this in an interview with ARISE News on Tuesday, where he discussed his lifestyle, wealth, business interests and investments in Africa.
The billionaire said he had continued to live in the same residence for more than three decades despite his wealth and status.
“You know how long I’ve been here? Thirty-six years. I don’t plan on leaving. I’m very comfortable here,” Dangote said.
He explained that he preferred the comfort of his home to constantly pursuing new luxuries, adding that he often finds it difficult to leave his residence after returning in the evening.
“Once I come in in the evening, it’s difficult to take me out of my house,” he said.
Dangote also criticised the spending habits of some wealthy Africans who acquire private jets and other luxury assets without putting their money into productive businesses.
“What I see is people now owning aircraft all over the place, flying all over, and they don’t have one single factory,” he said.
“So it means that they’re not actually helping in growing the economy, and that has to change.”
According to the businessman, his priority has been to channel his wealth and business interests towards Africa’s industrialisation, stressing that his greatest legacy would be contributing to the continent’s productive capacity.
Dangote said foreign investors were increasingly showing interest in Africa but needed large-scale investment opportunities capable of attracting substantial capital.
“Foreigners are very interested now; they want to invest in Africa, but they don’t have big-ticket items,” he said.
“So right now, they have started seeing big-ticket stuff, and they will join. And we will join to develop our own continent, Africa.”
He said Africa’s economic development required private capital to move away from luxury and displays of personal wealth towards factories and other productive investments.
Dangote added that investment in productive ventures would create jobs, increase manufacturing capacity and support wider economic growth across the continent.
Source: ARISE News
