Africa’s richest businessman, Aliko Dangote, is preparing to dedicate a significant share of his fortune to charitable causes as part of a long term succession plan designed to strengthen his philanthropic legacy.
The News Chronicle reports that Dangote has finally secured his family’s approval to give 33 percent of his shares to his Aliko Dangote Foundation. The reason behind the move, according to his daughter, is Shariah because the family believes they have to grow their investments in healthcare, education, hunger, and other areas.
His daughter, Halima Dangote, stated that the net worth of the African billionaire is about $35.1 billion, the planned contribution is valued at about $11.7 billion. She added that he has already given a significant portion of his wealth to his foundation, which has grown exponentially over time.
Most of the fortune owned by Dangote is allocated to Nigerian projects, with some funds going into other African countries and continents. Their projects saw the region register a polio vaccine and eliminate the disease from the region.
The African billionaire is considered one of the most generous philanthropists, and this recent donation will add up to the amount he has already given to the region and beyond. The amount allocated to his foundation will be among the highest ever recorded donated by an African billionaire.
