Dangote: My grandson doesn’t want to work with me for now

Africa’s richest man and President of the Dangote Group, Aliko Dangote, has disclosed that his first grandson is currently not interested in joining the family business.

Dangote said his grandson, who is an electrical engineer, wants to gain professional experience outside the conglomerate before eventually joining the family business.

According to him, the young engineer is considering working with global professional services firms KPMG or PwC to acquire experience, particularly in financial matters, before returning to the Dangote Group.

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Dangote disclosed this on Tuesday during a high-level investor engagement organised as part of activities surrounding the initial public offering of the Dangote Petroleum Refinery, which was held with Kenyan and other East African institutional investors in Nairobi.

Speaking on succession planning and the involvement of members of his family in the business, Dangote said his first grandson preferred to develop his professional experience outside the family conglomerate before taking up a role in the group.

“And my first grandson, he’s not finding it interesting to work with me for now. He wants to go and get experience with KPMG or PWC. Then after he’ll come and join us. He’s an electrical engineer, but he wants to go and learn about money first,” he said.

Dangote also introduced his first daughter, Mariya Dangote, and her husband, Alassane, who were present at the event.

He invited the couple to stand and acknowledge the audience, while describing Mariya as a shy person.

The businessman said his three daughters — Mariya, Halima and Fatima — are already involved in the management of the family business, occupying executive positions in different areas of the conglomerate.

The Dangote Group has business interests across several sectors, including cement, sugar, refining, fertiliser and manufacturing.

Speaking further on the group’s approach to long-term planning, Dangote said the company does not operate with 10-year plans.

He explained that setting targets too far into the future could create a sense of complacency among employees and executives because the deadline might appear distant.

Instead, he said the group operates mainly with five-year plans, which involve senior executives and directors across the organisation.

He named Group Vice Presidents Edwin and Alaki, Group Chief Financial Officer Murat, David Bird and other directors as being involved in the company’s planning process.

Dangote has previously spoken about succession within the conglomerate, saying that having a male heir is not a priority for him.

He has also indicated that one or more of his daughters could eventually take over the leadership of the business, reflecting his position that succession should be based on the ability of the next generation to lead the group rather than on gender.