Aliko Dangote has joined the World Bank’s Private Sector Investment Lab, focused on boosting investment and job creation in emerging economies. His conglomerate, the Dangote Group, is the largest in West Africa, and his foundation supports health, education, and child nutrition initiatives.

Aliko Dangote, the President and Chief Executive Officer of the Dangote Group, has expressed his gratitude for his appointment to the World Bank’s Private Sector Investment Lab. This body is dedicated to enhancing investment and fostering job creation in emerging economies. In a statement confirming his acceptance, Dangote reaffirmed his dedication to promoting sustainable economic growth through investments driven by the private sector. He emphasized 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, an organization focused on advancing investment and employment in emerging economies,” Dangote said. He continued, “This opportunity is in line with my long-standing commitment to sustainable development and unlocking the potential of developing economies. Inspired by the extraordinary successes of the Asian Tigers—who have showcased the power of strategic investments and focused economic policies—I look forward to collaborating with other leaders to replicate these outcomes across different regions.”

In 2023, Canadian Prime Minister Mark Carney co-chaired the Private Sector Investment Lab, which focused on attracting £1 trillion in sustainable investment to support the energy transition in emerging markets. The World Bank announced Dangote’s appointment on Wednesday as part of a larger expansion of its Private Sector Investment Lab, which now enters a new phase aimed at scaling solutions to attract private capital and create jobs in the developing world.

Alongside Dangote, the expanded group includes 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 explained that the expanded membership now brings together prominent business leaders with proven expertise in generating employment in developing economies. This aligns with the Bank’s enhanced focus on job creation as a central pillar of global development.

“With the expanded membership, we are mainstreaming this work across our operations and directly linking it to the jobs agenda that drives our strategy,” said Ajay Banga, President of the World Bank Group. “This isn’t about altruism—it’s about helping the private sector find a path to investments that not only deliver returns but also lift people and economies alike. This is central to our mandate.”

The global bank also shared that, over the past 18 months, the Lab had brought together leaders from global financial institutions to identify key barriers to private sector investment in developing countries. These leaders also tested practical solutions. The resulting work has now been consolidated into five priority focus areas, which are being integrated into the bank’s operations, including ensuring regulatory and policy certainty.

In a statement made available to our correspondent, it was highlighted that the Dangote Group, founded by Aliko Dangote, is the largest conglomerate in West Africa and one of the largest on the African continent. The Group operates in various sectors, including cement, fertilizer, salt, sugar, and oil, and employs over 30,000 people. It is the largest taxpayer in Nigeria, contributing more in taxes than all of Nigeria’s banks combined. The Dangote Group is also the country’s largest employer, second only to the government.

The Dangote Petroleum Refinery & Petrochemicals, valued at $20 billion, is the Group’s flagship project and is the largest single private investment in Africa.

In addition to his business ventures, Dangote leads the Aliko Dangote Foundation, the largest private foundation in sub-Saharan Africa. The Foundation, with the largest endowment from a single African donor, primarily focuses on child nutrition. It also supports various initiatives in health, education, empowerment, and disaster relief.