The West African region is home to some of the world’s most well-known entrepreneurs and business moguls. They include well-known figures such as Aliko Dangote, Abdul Samad Rabiu, and Mike Adenuga. From humble beginnings, they have founded and built multi-national corporations that employ hundreds of people in a variety of industries.
Here are seven of the most successful West African entrepreneurs to know about:
Aliko Dangote is a Nigerian business magnate with a net worth of $12.7 billion, according to Forbes, and $19.0 billion according to Bloomberg. He makes much of his money from Dangote Cement, one of Africa’s most successful and well-known firms. His cement production has a capacity of 48.6 million metric tons per year and operates in ten African countries.
Dangote, in addition to his cement industry, also manufactures sugar and, until recently, fertilizer and oil refinery. He has lately opened one of the world’s largest refineries. Furthermore, he is involved in car assembly under the name Dangote Peugeot Automobiles Nigeria Limited (DPAN). The Land Trek, 3008, 5008, and the new 508 were the first vehicles to be assembled.
Mike Adenuga had humble beginnings. He received his secondary school education at Ibadan Grammar School in Oyo State. He supported himself by working as a taxi driver and security guard while attending Northwestern Alva Oklahoma State University and Pace University in New York.
He made his money in mobile telecommunications and oil production. In 2006, Adenuga launched the Globacom mobile phone network. The mobile phone network has around 30 million subscribers and is expanding its operations in West Africa. It first opened its doors in Nigeria, Benin, Ghana, and the Ivory Coast.
The Nigerian magnate’s fortune began when he was 26 years old and had returned to Nigeria after studying in the United States. He took over his mother’s sawmill and began selling lace and other products. He also peddled Coca-Cola and had some significant military contacts in Nigeria.
He used his connections to obtain big state building contracts. Ibrahim Babangida, Nigeria’s former military president, granted him an oil exploration license. Adenuga utilized this to establish Conoil and become the first Nigerian to hit commercial quantities of oil.
Abdul Samad Rabiu
According to Forbes Africa, Abdul Samad Rabiu has a net worth of $7.6 billion. He founded the BUA Group, which specializes in cement manufacture, sugar refining, and real estate. His first company was importing iron, steel, and chemicals.
Rabiu founded his flagship company, BUA International Limited, in 1988 with the intention of entering the commodity trading business. Initially, the company imported rice, edible oil, flour, iron, and steel. After a few years, BUA acquired Nigerian Oil Mills Limited, the world’s largest edible oil processing company. In 2005, he also opened two flour milling units.