Dangote Group plans to broaden her horizon with the new office in New York.
The largest cement company in sub-Saharan Africa will use the new office to expand her global reach adding to the existing one in London. The new office will complement the completion of a $12 billion, 650,000 barrels per day refinery currently under construction in Nigeria.
“In Africa, you know we have issues of devaluation, so we want to really preserve some of the family’s wealth,” said Aliko Dangote.
The new office will help diversify and strengthen the company especially with the fluctuating currency in Nigeria. The company’s net worth grew by USD 4.3 billion at the end of the 2019 fiscal year; and is generally known for production of cement, sugar and flour.
The conglomerate is yet to announce which of her products will be sampled at the new office.
With a net worth of about USD15 billion, Dangote is now the 95th wealthiest man in the world, according to the Bloomberg Billionaires Index; While he is number one in Africa.