Aliko Dangote targets $100 billion industrial empire by 2030

Aliko Dangote, Africa's richest person, is valued at roughly $36.5 billion by Bloomberg and $28.5 billion by Forbes. He announced plans for the Dangote Group to become a $100 billion industrial conglomerate by the end of the decade. Revenue is projected to rise from about $20 billion today to $80 billion within three years and reach $100 billion by 2030, requiring roughly $40 billion in new capital. The strategy includes an initial public offering of the Dangote Refinery, a sale of a stake in its fertilizer business and a secondary London listing for Dangote Cement. The refinery near Lagos will double its capacity to 1.4 million barrels per day by 2028, and a new $17 billion refinery is planned for Lamu, Kenya. The company recently secured $2.5 billion in private funding to support the expansion.