AFRICA’s richest man, Aliko Dangote, plans to donate one-third of his wealth to charity as part of his succession plan, according to his daughter, Halima Dangote.
News Point Nigeria reports that Halima, a trustee of the Aliko Dangote Foundation, disclosed the arrangement in an interview with Bloomberg published on Tuesday, revealing that the billionaire had secured the support of his family to dedicate 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 amount to approximately $11.7 billion if maintained at that level.
Explaining the decision, Halima said her father regards philanthropy as a central pillar of his legacy and has incorporated it into the family’s long-term succession plans.
“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.
“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.”
The planned donation builds on Dangote’s longstanding philanthropic efforts through the Aliko Dangote Foundation, which was 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 disclosed that about 70 per cent of the foundation’s spending is directed towards projects in Nigeria, while 20 per cent supports initiatives across Africa, with the remaining funds allocated to programmes in other parts of the world.
The foundation’s interventions span healthcare, education, nutrition and humanitarian relief, including strategic partnerships with the Bill & Melinda Gates Foundation and state governments in northern Nigeria that contributed to the eradication of wild poliovirus in Africa.
Dangote’s planned charitable commitment comes at a time of growing global attention on billionaire philanthropy. Although the proposed allocation of 33 per cent falls short of the 50 per cent threshold commonly associated with the Giving Pledge, it would rank among the largest philanthropic commitments ever announced by an African billionaire.
Earlier this year, TIME magazine named 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.