Aliko Dangote, Africa’s richest man and President of the Dangote Group, has been appointed to the World Bank’s Private Sector Investment Lab, an initiative focused on accelerating private investment and job creation in developing countries. The appointment, announced on April 23, 2025, marks a significant expansion of the Lab as it enters its implementation phase.
In his acceptance statement, Dangote expressed enthusiasm for the role, stating, “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.” He emphasized that the opportunity aligns with his longstanding commitment to sustainable development and unlocking the potential of developing economies.
The Private Sector Investment Lab, launched by World Bank President Ajay Banga in June 2023, aims to address significant employment challenges in developing nations. With an estimated 1.2 billion young people entering the workforce over the next decade and only 420 million jobs projected, the Lab focuses on overcoming barriers to private sector investment. Key priorities include regulatory clarity, political risk insurance, foreign exchange risk management, junior equity capital, and securitization.
Dangote joins a distinguished group of global business leaders in the Lab, including Bill Anderson (CEO of Bayer AG), Sunil Bharti Mittal (Chair of Bharti Enterprises), and Mark Hoplamazian (President and CEO of Hyatt Hotels Corporation). These leaders bring expertise from sectors critical to job creation, such as infrastructure, agribusiness, healthcare, tourism, and manufacturing.
Dangote’s inclusion in the Lab underscores the World Bank’s commitment to leveraging private sector expertise to foster economic growth and employment in emerging markets. His track record with the Dangote Group, which employs over 30,000 people and operates across various industries, positions him as a valuable contributor to the Lab’s mission.
As the Lab moves into its next phase, the collaboration between global business leaders and the World Bank aims to implement actionable solutions that attract private capital and create sustainable employment opportunities, particularly in regions like Africa, where economic development is crucial.