Africa’s richest man, Aliko Dangote, has revealed that his first grandson is not ready to join the family business.
Dangote said the young man, an electrical engineer, wants to build his career outside the Dangote Group before eventually returning to the conglomerate.
According to the billionaire businessman, his grandson is considering working with global professional services firms KPMG or PwC, where he hopes to gain experience, particularly in financial matters.
Dangote disclosed this on Tuesday during an investor engagement in Nairobi, Kenya, organised as part of activities around the proposed initial public offering of Dangote Petroleum Refinery.
Speaking on succession and the involvement of his family in the business, Dangote said his grandson currently preferred to gain experience elsewhere.
“My first grandson, he’s not finding it interesting to work with me for now. He wants to go and get experience with KPMG or PwC. Then after he’ll come and join us.”
Dangote said the young engineer was particularly interested in understanding financial matters before taking up a role in the family conglomerate.
The billionaire also introduced his first daughter, Mariya Dangote, and her husband, Alassane, who were at the event.
He invited the couple to acknowledge the audience, describing Mariya as a shy person.
Dangote said his three daughters — Mariya, Halima and Fatima — are already involved in the management of the family business and hold executive positions across different areas of the conglomerate.
The Dangote Group has interests spanning cement, sugar, fertiliser, refining and manufacturing.
On long-term planning, Dangote said the group does not operate with 10-year plans, preferring a five-year planning cycle.
He explained that very long-term targets could make employees and executives less driven because the deadline would appear too far away.
The company’s five-year planning process involves senior executives and directors, including Group Vice Presidents Edwin and Alaki, Group Chief Financial Officer Murat, David Bird and others.
Dangote has previously spoken about succession in the conglomerate, saying he does not consider having a male heir a priority.
He has also indicated that his daughters could eventually take over the leadership of the business, stressing that succession should be based on ability rather than gender.
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