Africa’s richest man, Aliko Dangote, is set to dedicate one-third of his fortune to charity after securing the legally binding support of his heirs and close family members as part of a long-term succession plan.
The move, disclosed by his daughter, Halima Dangote, in an interview with Bloomberg, formalises the billionaire’s commitment to philanthropy and ensures charitable giving remains a lasting part of the family’s legacy.
Under the arrangement, 33 per cent of his estate will be allocated to the Aliko Dangote Foundation in line with Islamic inheritance principles.
Speaking during the interview, Halima said her father had already transferred a significant portion of his wealth to the foundation and established structures to sustain its focus on health and education.
“He sort of put all the structure in place whereby we focus a lot on health and education. 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.
“That is how important it is to him because philanthropy needs to be in existence generation after generation. “So giving back is part and parcel of what we do.
Also Read:Â Dangote Refinery seals $2.5b private equity placement
We believe we’re here, that our business is successful because of the giving back and because of the philanthropic aspect. That is why the 33 per cent is important.”
According to the Bloomberg Billionaires Index, Dangote’s net worth is estimated at about $35.1 billion, meaning the planned donation could be worth approximately $11.7 billion if his wealth remains at that level.
Halima, a trustee of the Aliko Dangote Foundation, said the decision is rooted in Islamic inheritance principles and reflects her father’s longstanding commitment to philanthropy.
She added that the foundation allocates about 70 per cent of its spending to Nigeria, 20 per cent to the rest of Africa and the remaining 10 per cent to other parts of the world, with health and education as its primary focus.
Established in 1994, the Aliko Dangote Foundation received an endowment of $1.25 billion about a decade ago and has since been strengthened with an additional $700 million in funding.
Through partnerships with organizations, including the Bill & Melinda Gates Foundation, it has supported major health, nutrition and education programmes across Africa and contributed to the eradication of wild polio-virus on the continent.
The announcement comes as Dangote continues to hand greater leadership responsibilities to his daughters within the Dangote Group as part of a broader succession strategy aimed at growing the conglomerate into a $100 billion enterprise.
Gatekeepers News
