Africa’s richest man, Aliko Dangote, plans to dedicate one-third of his wealth to philanthropic causes as part of a long-term succession plan, his daughter, Halima Dangote, has revealed.
Halima, who is a trustee of the Aliko Dangote Foundation, disclosed the plan in an interview with Bloomberg, stating that the billionaire has secured the support of his family to commit 33 per cent of his estate to charity.
According to the Bloomberg Billionaires Index, Dangote’s estimated net worth stands at $35.1 billion, meaning one-third of his current fortune would be worth approximately $11.7 billion if his wealth remains at that level.
Halima explained that her father views philanthropy as a major part of his legacy and has incorporated charitable giving into the family’s succession structure.
“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.
She added that the decision reflects Dangote’s belief that philanthropy should continue across generations.
“Philanthropy needs to be in existence generation after generation. So giving back is part and parcel of what we do,” Halima said.
She disclosed that Dangote, along with his daughters and mother, signed documents allowing 33 per cent of his inheritance to be dedicated to humanitarian causes.
The planned donation builds on Dangote’s existing charitable activities through the Aliko Dangote Foundation, which was established in 1994.
Halima said the foundation was endowed with $1.25 billion about a decade ago and has received an additional $700 million in funding since then.
She noted that about 70 per cent of the foundation’s expenditure is focused on Nigeria, while 20 per cent supports projects across Africa and the remaining funds initiatives in other parts of the world.
The foundation’s programmes cover health, education, nutrition and humanitarian assistance. Its partnerships include collaborations with the Bill & Melinda Gates Foundation and northern Nigerian states in efforts that contributed to the eradication of wild poliovirus in Africa.
Dangote’s planned charitable commitment comes amid increasing global attention on billionaire philanthropy. Although the 33 per cent pledge is below the 50 per cent threshold often associated with the Giving Pledge, it would rank among the largest philanthropic commitments announced by an African billionaire.
