World Bank Appoints Aliko Dangote to Global Investment Lab
The World Bank has appointed Africa’s richest man and President of Dangote Group, Aliko Dangote, to its expanded Private Sector Investment Lab, a body tasked with driving investment and job creation in developing economies.
Dangote, who joins other global business leaders on the elite panel, said the appointment aligns with his long-standing commitment to sustainable development and transforming emerging markets.
“I am both honoured and excited to accept my appointment to the World Bank’s Private Sector Investment Lab, dedicated to advancing investment and employment in emerging economies,” he said. “This opportunity aligns with my long-standing commitment to sustainable development and unlocking the potential of developing economies. Drawing inspiration from the remarkable successes of the Asian Tigers, which have demonstrated the power of strategic investment and focused economic policy, I am eager to collaborate with fellow leaders to replicate such outcomes across other regions.”
President Bola Tinubu, in a statement on Wednesday, April 30, congratulated Dangote on the appointment, describing it as “apt, given Dangote’s rich private sector experience, strategic investments, and many employment opportunities created through his Dangote Group.”
“President Tinubu urges Dangote to bring to bear on the World Bank appointment his transformative ideas and initiatives to impact the emerging markets across the world fully,” the presidency said.
Dangote Group is the largest conglomerate in West Africa, with interests in cement, fertiliser, sugar, salt, oil and gas. Its $20 billion refinery is considered Africa’s most daring and significant single private investment.
Joining Dangote in the Lab are Bill Anderson, CEO of Bayer AG; Sunil Bharti Mittal, Chair of Bharti Enterprises; and Mark Hoplamazian, CEO of Hyatt Hotels Corporation.
World Bank Group President Ajay Banga said: “This isn’t about altruism—it’s about helping the private sector see a path to investments that will deliver returns, and lift people and economies alike. It’s central to our mandate.”
The World Bank said the lab’s expanded membership brings together leaders with proven records in employment generation and private capital mobilisation in developing markets. The Lab will now scale up five priority areas—including regulatory and policy certainty—to unlock private investment.
