Aliko Dangote Appointed to World Bank’s Private Sector Investment Lab

The President and Chief Executive of Dangote Group, Aliko Dangote, has expressed his gratitude following his appointment to the World Bank’s Private Sector Investment Lab—an initiative aimed at boosting investment and creating jobs in emerging economies.

In a statement confirming his acceptance, Dangote reaffirmed his dedication to driving sustainable economic growth through private sector-led investments, emphasizing the transformative potential of such initiatives in developing markets.

“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,” Dangote said.

He added:

“This opportunity aligns with my long-standing commitment to sustainable development and unlocking the potential of developing economies. Drawing inspiration from the remarkable successes of the Asian Tigers—who have demonstrated the power of strategic investment and focused economic policies—I am eager to collaborate with fellow leaders to replicate similar outcomes across other regions.”

Dangote’s appointment comes as the World Bank announced an expansion of its Private Sector Investment Lab, entering a new phase aimed at scaling solutions to attract private capital and drive job creation in developing countries.

Joining Dangote in the expanded group are:

• Bill Anderson, CEO of Bayer AG

• Sunil Bharti Mittal, Chair of Bharti Enterprises

• Mark Hoplamazian, President and CEO of Hyatt Hotels Corporation

The Lab, originally co-chaired by Canada’s Prime Minister Mark Carney in 2023, focused on mobilizing £1 trillion in sustainable investments to support energy transitions in emerging markets.

Speaking on the new phase of the Lab, World Bank Group President Ajay Banga said:

“With the expanded membership, we are mainstreaming this work across our operations and tying it directly to the jobs agenda that is driving our strategy.
This isn’t about altruism—it’s about helping the private sector see a path to investments that deliver returns, and lift people and economies alike. It’s central to our mandate.”

Over the last 18 months, the Lab has convened leaders from global financial institutions to tackle the biggest barriers to private sector investment in developing countries. Its findings have now been consolidated into five priority areas, which are being integrated across the Bank’s operations, including improving regulatory and policy certainty.

Dangote’s selection highlights his influential role as the head of Dangote Group, the largest conglomerate in West Africa and one of Africa’s leading companies. With interests spanning cement, fertilizer, salt, sugar, and oil, the Group employs over 30,000 people and stands as Nigeria’s largest private-sector employer and taxpayer—contributing more in taxes than all Nigerian banks combined.

The Group’s flagship project, the $20 billion Dangote Petroleum Refinery & Petrochemicals, is the largest single private investment in Africa.

Beyond his business achievements, Dangote also leads the Aliko Dangote Foundation, the largest private foundation in sub-Saharan Africa, which focuses primarily on child nutrition, while also supporting initiatives in health, education, empowerment, and disaster relief.