Africa’s richest man, Aliko Dangote, plans to donate one-third of his fortune to charitable causes as part of his succession plan, according to his daughter, Halima Dangote.
Halima, who serves as a trustee of the Aliko Dangote Foundation, disclosed the plan in an interview with Bloomberg, explaining that the billionaire has already secured the support of his family to dedicate 33 per cent of his estate to philanthropy.
According to the Bloomberg Billionaires Index, Dangote’s net worth is currently estimated at $35.1 billion, meaning one-third of his wealth would be worth approximately $11.7 billion.
Halima said philanthropy has always been central to her father’s vision and legacy, adding that he has incorporated charitable giving into the family’s long-term inheritance plans.
“He actually donated 25 per cent to the foundation. If you look at it, it is what we call in Sharia Code in Islam; it means he has donated 33 per cent of his whole inheritance to his foundation,” she said.
She explained that the arrangement was designed to ensure the foundation continues its humanitarian work for generations to come.
“Giving back is part and parcel of what we do. We believe our business is successful because of the giving back and because of the philanthropic aspect. That is why the 33 per cent is important,” Halima added.
She further revealed that Dangote asked his daughters and his mother to sign the will approving the donation.
“He asked myself, my two sisters and his mother to sign under that will that he is able to give that 33 per cent to humanity,” she said.
Established in 1994, the Aliko Dangote Foundation has become one of Africa’s largest charitable organisations.
Halima disclosed that the foundation received an endowment of $1.25 billion about a decade ago and has since been strengthened with an additional $700 million in funding.
She said about 70 per cent of the foundation’s spending goes to projects in Nigeria, 20 per cent supports programmes across Africa, while the remaining funds are used for humanitarian initiatives in other parts of the world.
The foundation focuses on health, education, nutrition and humanitarian relief and has partnered with the Bill & Melinda Gates Foundation and northern Nigerian state governments in efforts that helped eradicate wild poliovirus in Africa.
Earlier this year, TIME magazine named Dangote among the world’s most influential philanthropists in its inaugural TIME100 Philanthropy list, recognising the foundation’s work, which spends more than ₦50 billion annually on programmes across Africa.
