Richest African’s Wealth Jumps $1.3 Billion in January
- Nigerian Aliko Dangote’s wealth rises to $20.4 billion
- Dangote Cement’s shares surge to 11-year high of 284.9 naira
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Aliko Dangote, Africa’s richest man, saw his fortune grow by $1.3 billion in less than a month on the back of surge in the share price of his cement company.
Dangote Cement Plc, which accounts for about half the entrepreneur’s net worth of $20.4 billion, closed at the highest since 2010 on Friday, adding to the 11% gain in 2022 compared with 7.59% by the main board of the Lagos-based Nigerian exchange. The Lagos-based company recently completed a share buyback to boost value.