Dangote to donate one-third of wealth to charity, daughter reveals

Africa's wealthiest individual, Aliko Dangote, chairman of the Dangote Group, intends to donate a substantial portion of his fortune to philanthropic causes, his daughter Halima Dangote has revealed. Halima, a trustee of the Aliko Dangote Foundation, disclosed in an interview with Bloomberg that her father plans to dedicate 33% of his wealth to charity as part of his succession strategy.

Based on the Bloomberg Billionaires Index estimate of Dangote's net worth at $35.1 billion, this planned donation would amount to roughly $11.7 billion. Halima explained that her father views philanthropy as central to his legacy, embedding it deeply within the family's long-term plans. "He sort of put all the structure in place whereby we focus a lot on health and education," she stated, noting that Dangote has already committed 33% of his inheritance according to Islamic Sharia code principles.

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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.

This significant commitment underscores the importance of giving back, which the family believes is integral to their business success. "We believe we're here, that our business is successful because of the giving back and because of the philanthropic aspect," Halima said. Dangote has secured the commitment of his wife and two daughters to sign a will formalizing this 33% allocation to humanity.

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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.

The planned donation expands upon the work of the Aliko Dangote Foundation, established in 1994. Halima indicated that the foundation was initially endowed with $1.25 billion about a decade ago and has since received an additional $700 million. Approximately 70% of the foundation's expenditures support initiatives in Nigeria, with 20% allocated to projects across Africa and the remainder supporting global initiatives. The foundation's interventions span health, education, nutrition, and humanitarian relief, including a notable partnership with the Bill & Melinda Gates Foundation that contributed to the eradication of wild poliovirus in Africa.

Dangote's substantial pledge places him among significant global philanthropists, though the 33% allocation is below the 50% threshold often associated with the Giving Pledge. His commitment highlights a growing trend of billionaire philanthropy and underscores a deep-seated belief in using wealth for societal benefit, particularly in critical areas like health and education within Africa.

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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.