Dangote accepts World Bank appointment, reaffirms commitment to fostering sustainable economic growth
By Jeph Ajobaju, Chief Copy Editor
Aliko Dangote, the President and Chief Executive of Dangote Group, has expressed for, and accepted his appointment into, the Private Sector Investment Lab by the World Bank, an initiative that drives job creation in emerging economies.
The richest man in Africa reaffirmed his commitment to fostering sustainable economic growth through private sector-led investment, highlighting the transformative potential of such initiatives in developing 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,” Dangote said in a statement.
“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.”
Dangote’s appointment was announced by the World Bank on Wednesday as part of a broader expansion of its Private Sector Investment Lab that now enterers a new phase to scale up solutions to attract private capital and generate employment in the developing world.
Also in this elite group are Bill Anderson, CEO of Bayer AG; Sunil Bharti Mittal, Chair of Bharti Enterprises; and Mark Hoplamazian, President and CEO of Hyatt Hotels Corporation.
The World Bank said the expanded membership brings together business leaders with proven track records in generating employment across developing economies, supporting the bank’s sharpened focus on job creation as a central pillar of global development.
“With the expanded membership, we are mainstreaming this work across our operations and tying it directly to the jobs agenda that is driving our strategy,” said World Bank Group President Ajay Banga.
“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.”
Canadian Prime Minister Mark Carney in 2023 co-chaired the Private Sector Investment Lab, which focused on attracting £1 trillion in sustainable investment to support energy transition in emerging markets.
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