(Aliko Dangote. Photo Credit: Tribune Online)
As part of his succession plan, Aliko Dangote, the richest man in Africa, intends to donate a third of his fortune to charity, according to his daughter Halima Dangote.
In an interview with Bloomberg that was published on Tuesday, Halima, a trustee of the Aliko Dangote Foundation, revealed the plan, stating that the tycoon had gotten his family’s consent to donate 33% of his inheritance to charitable causes.
According to the Bloomberg Billionaires Index, Aliko Dangote’s net worth is estimated at $35.1 billion, meaning a third of his current fortune would amount to roughly $11.7 billion if his wealth remains at that level.
Explaining the decision, his daughter, Halima, said her father considers philanthropy central to his legacy and has built it into the family’s long-term succession plans.
She explained that he has already donated 25 per cent to the family foundation, which, under Sharia principles, effectively translates to 33 per cent of his total inheritance being set aside for the foundation.
She said this reflects how important it is to him that philanthropy continues across generations, stressing that giving back is central to the family’s identity and that they attribute much of their business success to their charitable work, which is why the 33 per cent commitment matters so much.
She added that her father made the announcement and had her, her two sisters and his mother sign an agreement under the will committing that portion of his wealth to humanitarian causes.
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 roughly 70 per cent of the foundation’s spending goes to Nigeria, 20 per cent supports projects across Africa, while the remainder funds initiatives in other parts of the world.
The foundation’s work spans health, education, nutrition and humanitarian relief, and includes partnerships with the Bill & Melinda Gates Foundation as well as state governments in northern Nigeria, contributing to the eradication of wild poliovirus across the continent.
Dangote’s planned charitable commitment comes amid growing global attention on billionaire philanthropy.
Although the proposed 33 per cent allocation falls short of the 50 per cent threshold typically associated with the Giving Pledge, it would still rank among the largest philanthropic commitments ever made by an African billionaire.
Earlier this year, TIME magazine included Dangote among the world’s most influential philanthropists in its inaugural TIME100 Philanthropy list, recognising his charitable work through the Aliko Dangote Foundation, which spends more than ₦50 billion annually on programmes across Africa.