Africa’s richest man and President of the Dangote Group, Aliko Dangote, has disclosed that his first grandson would prefer to gain experience at global professional services firms KPMG or PwC before joining the family business.
Dangote made this known on Tuesday at a high-level investor engagement organised for the Dangote Petroleum Refinery initial public offering with Kenyan and East African institutional investors in Nairobi.
Speaking about the group’s approach to long-term planning and the involvement of his family in the business, Dangote said his first grandson, an electrical engineer, was currently more interested in learning about finance outside the family firm.
“And 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,” he said.
Dangote also introduced his first daughter, Mariya Dangote, and her husband, Alassane, who were present at the event, before inviting them to stand and wave to the audience.
He described Mariya as a very shy person while introducing the couple to the gathering.
The industrialist also explained that the Dangote Group does not work with 10-year visions, saying such long-term targets could make people relax because they assume the future is too far away.
Instead, he said the group operates on five-year plans involving its top executives, including Group Vice Presidents Edwin and Alaki, Group Chief Financial Officer Murat, David Bird and other directors.
Dangote’s three daughters—Mariya, Halima and Fatima—already hold executive roles across different areas of the conglomerate, which has interests in cement, sugar, refining, fertiliser and manufacturing.
He has previously said that having a male heir is not a priority for him, expressing confidence that one or more of his daughters could eventually lead the group.
(Punch)
