The Economic Times

Africa's richest man's first business was selling sweets at school, now Aliko Dangote is wealthier than China's Jack Ma and Amazon co-founder MacKenzie Scott

Africa's richest man, Aliko Dangote, saw his net worth significantly increase after the Dangote Refinery IPO. The massive oil facility is now available to investors on the Nigerian Exchange. This offering aims to raise approximately 2.15 trillion Naira for the refinery. The refinery's equity is valued at around 63 trillion Naira, or $47.6 billion. Future plans include expanding production capacity to 1.4 million barrels daily by 2029.