Dangote To Donate One-Third Of Wealth To Charity

Daughter of the Chairman of Dangote Group and Africa’s richest man, Aliko Dangote, Halima has revealed that her father plans to donate one-third of his wealth to charity as part of his succession plan.

Halima Dangote, a trustee of the Aliko Dangote Foundation, disclosed the arrangement in an interview with Bloomberg published on Tuesday, July 28.

According to her, the billionaire business mogul had secured his family’s support to dedicate 33 per cent of his estate to philanthropy.

Recall that the Bloomberg Billionaires Index report shows that Dangote’s net worth is estimated at $35.1 billion.

Therefore, one-third of his current fortune would amount to about $11.7 billion if maintained at that level.

Giving her reason for the decision, Halima said her father considers philanthropy central to his legacy and has embedded it into the family’s long-term succession plans.

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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 law in Islam; it means he has donated 33 per cent of his whole inheritance to his foundation.

“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 me, my two sisters and his mother to sign under that will that he can give that 33 per cent to humanity.”

The planned donation builds on Dangote’s existing philanthropic work through the Aliko Dangote Foundation, established in 1994.

According to Halima, the foundation was endowed with $1.25 billion about a decade ago and has since received an additional $700 million in funding.

She said about 70 per cent of the foundation’s spending is directed to Nigeria, while 20 per cent supports projects across Africa and the remainder funds initiatives in other parts of the world.