…Daughter says billionaire has willed one-third of his wealth to charity in landmark philanthropic pledge
By Shaagee Orkula
Africa’s richest man, Aliko Dangote, is set to make what could become the largest charitable donation ever pledged by an African, with plans to dedicate one-third of his vast fortune—estimated at about $11.7 billion (approximately N16 trillion)—to philanthropy as part of his succession plan.
The unprecedented commitment was disclosed by his daughter, Halima Dangote, a trustee of the Aliko Dangote Foundation, during an interview with Bloomberg published on Tuesday.
Based on the Bloomberg Billionaires Index, Dangote’s current net worth stands at $35.1 billion, making one-third of his estate worth roughly $11.7 billion, equivalent to about N16 trillion at prevailing official exchange rates.
Halima revealed that the decision was taken with the full backing of the billionaire industrialist’s family and has been formally incorporated into his estate planning.
She explained that philanthropy occupies a central place in her father’s vision of his legacy, noting that he had already established structures to ensure that charitable giving continues for generations after him.
“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 decades of charitable work undertaken through the Aliko Dangote Foundation, which was established in 1994.
According to Halima, the foundation received an endowment of $1.25 billion about a decade ago and has since been strengthened with an additional $700 million in funding.
She disclosed that about 70 per cent of the foundation’s spending is devoted to projects in Nigeria, while 20 per cent supports programmes across other African countries. The remaining funds are deployed to humanitarian initiatives elsewhere around the world.
The foundation’s interventions focus on health, education, nutrition, and humanitarian relief, and include partnerships with the Bill & Melinda Gates Foundation and state governments in northern Nigeria that contributed to the eradication of wild poliovirus in Africa.
If fully implemented at today’s valuation, the proposed N16 trillion charitable endowment would rank among the largest philanthropic commitments ever announced globally and is widely seen as the biggest single charitable pledge by an African billionaire.
Dangote’s latest move further cements his growing reputation as one of the continent’s leading philanthropists. Earlier this year, TIME magazine included him in its inaugural TIME100 Philanthropy list, recognising the impact of the Aliko Dangote Foundation, which spends more than N50 billion annually on health, education, and humanitarian programmes across Africa.
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