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The World Richest Black African Man Aliko Dangote To Donate $1.2 Billion To Foundation! (Video)

The World Richest Black African Man Aliko Dangote To Donate $1.2 Billion To Foundation! (Video)

by April 14, 2014 4 comments

Now This Is A Black Man Building!
By: Tommy “Tj” Sotomayor

There are many people who speak of building, but there are very few who actually do.  There are many people who speak of giving but very few who give so much of their time, energy and yes in the case of blacks, Their money!!!

Well this brother not only put his money where is mouth is but he put it where almost everyones mouth is with a donation so large you cant even fathom.  But the weird thing about this is that the coon named Tommy Sotomayor is the one black news outlet thats breaking the story, while the others are being content at well talking about nothing at all unless its some drama!

This story just made my night and I hope that more of you are willing to look at life the same way that this guy is.  Building is not a bunch of talk, but a bunch of actions!!! ~T.S.
Africa’s wealthiest man Aliko Dangote is cementing his position as the continent’s most generous individual.

Dangote, who spoke to the newspaper yesterday, said the endowment will be funded from his personal cash reserves. He is will also transfer shares from his listed companies into the foundation which he founded in 1994 to support initiatives in education, health and Youth empowerment in Nigeria.

“Since the Dangote Foundation is now 20 years old, this initial endowment will assure that the foundation has secure and steady funding to carry out its mission as we significantly scale up our work,” he said.

World Economic Forum on Africa 2011

The Dangote Foundation which is headed by Adhiambo Odaga, a Kenyan national who previously served as the Ford Foundation’s chief representative in West Africa, runs a cash transfer programme which complements the Nigerian government’s poverty alleviation programmes. The Foundation disburses small grants usually within the range of $50 – $80 to very poor rural women and youths who want to start small businesses. An $80 grant, as miniscule and as insignificant as it may seem, could be a breakthrough for many rural dwellers in Nigeria require such small amounts to start low-cost businesses like roadside catering, shoe repair, and other similar concerns.  The Foundation also funds the construction of University libraries and hospitals across Nigeria.

It’s been uphill journey for Aliko Dangote, who debuted on our billionaires list in 2008 with a $3.3 billion fortune. Over the last 6 years, he has added $21.7 billion to his net worth thanks largely to the incredible success of his crown jewel, the publicly-listed Dangote Cement which has a market cap of $24 billion and has operations in 15 African countries. Dangote owns more than 90% of the company.

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