Africa’s richest man, Aliko Dangote, has been appointed by the World Bank to its prestigious Private Sector Investment Lab, a platform focused on driving job creation and sustainable economic growth in emerging economies.
The World Bank made the announcement on Wednesday, highlighting Dangote’s inclusion as part of an expanded effort to scale up solutions that attract private capital and generate employment in the developing world.
Dangote, who is the President and Chief Executive of the Dangote Group, in his acceptance expressed his excitement and commitment to the initiative, to foster 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,” the richest man in Africa said.
“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, which is now entering a new phase aimed at scaling up solutions to attract private capital and generate employment in the developing world.
Joining Dangote 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.
Earlier, the World Bank stated that 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.”
In 2023, Mark Carney, the Prime Minister of Canada, co-chaired the Private Sector Investment Lab, which focused on attracting £1 trillion in sustainable investment to support the energy transition in emerging markets.