Africa’s richest man, Aliko Dangote, plans to dedicate one-third of his wealth to charitable causes as part of his long-term succession plan, according to his daughter, Halima Dangote.
Halima, a trustee of the Aliko Dangote Foundation, disclosed the plan in an interview with Bloomberg published on Tuesday, saying the billionaire has secured the support of his family to commit 33 per cent of his estate to philanthropy.
According to the Bloomberg Billionaires Index, Dangote’s net worth is estimated at $35.1 billion, meaning one-third of his current fortune would be worth about $11.7 billion.
Halima said her father views philanthropy as a major part of his legacy and has incorporated charitable giving into the family’s long-term inheritance structure.
She explained that Dangote had already created a framework to ensure that his philanthropic activities continue beyond his lifetime, with a major focus on healthcare and education.
“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.
Family members sign commitment for future donations
According to Halima, the decision was designed to guarantee the sustainability of the foundation’s projects across generations.
She said Dangote believes giving back is an essential responsibility linked to the success of his businesses and has made arrangements to ensure that the donation continues to benefit humanity.
“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 stated.
Dangote Foundation expands charitable activities
The planned donation builds on Dangote’s existing philanthropic efforts through the Aliko Dangote Foundation, which was established in 1994.
Halima said the foundation received a $1.25 billion endowment about a decade ago and has since received an additional $700 million in funding to strengthen its programmes.
She explained that about 70 per cent of the foundation’s expenditure is focused on projects in Nigeria, while 20 per cent supports initiatives across Africa and the remaining funds are directed to programmes in other parts of the world.
Foundation focuses on health and education
The Aliko Dangote Foundation supports programmes in healthcare, education, nutrition and humanitarian relief.
The foundation has also partnered with the Bill & Melinda Gates Foundation and northern Nigerian state governments on public health initiatives, including efforts that contributed to the eradication of wild poliovirus in Africa.
Its activities have positioned Dangote among prominent global philanthropists, with TIME magazine naming him among the world’s most influential philanthropists in its inaugural TIME100 Philanthropy list earlier this year.
The recognition highlighted the foundation’s extensive humanitarian programmes, which spend more than N50 billion annually on initiatives across Africa.
Dangote’s planned commitment of one-third of his wealth places philanthropy at the centre of his succession strategy, with the aim of ensuring that his charitable legacy continues for future generations.
