Nigerian business magnate, Aliko Dangote, has experienced a significant financial upswing, witnessing an increase of more than $100 million in the first week of 2024.<\/strong><\/p>\nThis surge, in a news report by billionaires.africa, has propelled his net worth well beyond the $15-billion mark, marking a notable recovery from a $3.6-billion dip in 2023.<\/p>\n
Attributed to the strong performance of his diversified investment portfolio on the Nigerian Exchange (NGX), Dangote\u2019s financial resurgence is driven by a bullish market sentiment, pushing the local bourse\u2019s all-share index closer to the 80,000 points milestone.<\/p>\n
The report cited the Bloomberg Billionaires Index, which states that Dangote\u2019s wealth has risen from $15.1 billion at the beginning of 2024 to $15.2 billion.<\/p>\n
The $106-million increment in his net worth this year is directly linked to the robust performance of his investments on the NGX.<\/p>\n
The core of Dangote\u2019s financial rebound, according to the report, lies in his strategic stakes in key Nigerian companies. This includes a 72.7 % stake in Dangote Sugar Refinery, a 66.5% stake in leading salt processing company, NASCON Allied Plc, and an 86% ownership in Dangote Cement, his flagship company.<\/p>\n
Presently, his stakes in Dangote Sugar Refinery and NASCON Allied Plc, are valued at $624 million and $108 million, respectively.<\/p>\n
Meanwhile, his stake in Dangote Cement, Africa\u2019s largest cement manufacturing company, is estimated at $5.59 billion.<\/p>\n
While Bloomberg identifies Dangote as Africa\u2019s wealthiest individual with a net worth of $15.2 billion, Forbes positions him as the second richest in Africa at $9.8 billion.<\/p>\n
The key point of contention revolves around the valuation of Dangote\u2019s fertiliser plant, Dangote Fertilizer, boasting a capacity to produce 2.8 million tonnes of urea annually.<\/p>\n
Bloomberg incorporates the $5.15-billion valuation of Dangote Fertilizer in its calculations, utilising a discounted cash flow analysis by KPMG, a valuation corroborated by external analysts.<\/p>\n
In contrast, Forbes omits this figure due to limited access to financial information about the fertiliser plant.<\/p>\n
This discrepancy underscores the complexities of assessing the wealth of a magnate like Dangote, particularly in sectors with limited financial disclosure.<\/p>\n
NW\/MA<\/p>\n
Source:\u00a0<\/strong>www.ghanaweb.com<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Nigerian business magnate, Aliko Dangote, has experienced a significant financial upswing, witnessing an increase of more than $100 million in the first week of 2024. This surge, in a news report by billionaires.africa, has propelled his net worth well beyond the $15-billion mark, marking a notable recovery from a $3.6-billion dip in 2023. Attributed to […]<\/p>\n","protected":false},"author":1,"featured_media":137315,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-137314","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\n
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