Africa’s richest man, Aliko Dangote, has concluded plans to donate one-third of his wealth to charity as part of his long-term succession strategy, according to his daughter, Halima Dangote.
Halima, who serves as a trustee of the Aliko Dangote Foundation, disclosed the development in an interview with Bloomberg published on Tuesday, revealing that the billionaire has secured his family’s approval to dedicate 33 per cent of his estate to philanthropic causes.
According to the Bloomberg Billionaires Index, Dangote’s fortune is currently estimated at $35.1 billion, meaning the planned donation would amount to approximately $11.7 billion if his net worth remains at that level.
Explaining the decision, Halima said philanthropy had always been central to her father’s vision and legacy, adding that the arrangement has been formally incorporated into the family’s succession plans.
“He sort of put all the structure in place whereby we focus a lot on health and education. He actually donated 25 per cent to the foundation. If you look at it, it is what we call in Sharia Code in Islam; it means he has donated 33 per cent of his whole inheritance to his foundation,” she said.
She stressed that the move was designed to ensure the foundation continues to serve humanity for generations to come.
“That is how important it is to him because philanthropy needs to be in existence generation after generation.
“So, giving back is part and parcel of what we do. We believe we’re here, that our business is successful because of the giving back and because of the philanthropic aspect. That is why the 33 per cent is important.
“And that is why he made an announcement and he asked myself, my two sisters and his mother to sign under that will that he is able to give that 33 per cent to humanity,” she added.
The planned donation builds on the work already being carried out by the Aliko Dangote Foundation, which was established in 1994 and has become one of Africa’s largest private philanthropic organisations.
Halima disclosed that the foundation was endowed with $1.25 billion about a decade ago and has since received an additional $700 million in funding to expand its interventions.
According to her, nearly 70 per cent of the foundation’s annual spending is directed towards projects in Nigeria, while 20 per cent supports programmes across Africa, with the remaining funds allocated to humanitarian initiatives in other parts of the world.
The foundation focuses on healthcare, education, nutrition, humanitarian relief and economic empowerment, and has partnered with organisations such as the Bill & Melinda Gates Foundation and governments in northern Nigeria in campaigns that contributed to the eradication of wild poliovirus across Africa.
Dangote’s latest philanthropic commitment is expected to rank among the largest charitable pledges ever announced by an African billionaire.
Although the planned donation falls short of the 50 per cent benchmark associated with the global Giving Pledge initiative, analysts say it underscores Dangote’s determination to channel a significant portion of his fortune into improving lives across Africa.
Earlier this year, TIME magazine recognised Dangote among the world’s leading philanthropists in its inaugural TIME100 Philanthropy list, citing the Aliko Dangote Foundation’s annual spending of more than ₦50 billion on charitable programmes across the continent.
