Africa’s richest man, Aliko Dangote predicts that he could be the fifth richest man in the world if his business plans aligned well including his plans to list his $11bn cement business on the London Stock Exchange next year.
In an interview with the Financial Times, the African billionaire was prodded if he envisioned himself becoming the world’s richest man. “Why not?” he responded. “Of course it’s possible. We will talk about this in five years.”
“We want to list in London next year,” he said in an interview in Lagos. “By then the upside to our business will be much bigger than today.”
In 2011, Dangote Cement had an expected net profit of about $790 and revenues of about $1.5 billion.
Dangote is currently worth about $12bn according to Forbes and his plan is to quadruple his profits in the next four years and build his business to become the world’s most profitable cement company.
Mr. Dangote will be teaming up with investment banks, Morgan Stanley and JPMorgan as co-leads for his London share issue and plans to give up his current role as Chairman.
“My plan is to have different faces [on the board],” he said. “The face of the chairman will not be Aliko Dangote, it will be somebody else, a professional who is well-respected within investment circles.”
With such plans for global domination, the sky appears to only be the beginning for Dangote Group.
Cp-Africa
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