Africa’s Richest Man Retires as Chairman of Dangote Cement

Aliko Dangote retired as chairman of Dangote Cement Plc, the bedrock of his business empire until he established an oil refinery, with the company naming a former banker to replace the Nigerian tycoon and inducting the billionaire’s daughter to the board.

Dangote, 68, stepped down on Friday, the cement firm said in a statement. Emmanuel Ikazoboh, former group chairman of Ecobank Transnational Inc., will fill the role vacated by Africa’s richest person.