Dangote: I don’t have house abroad, but my staff have in London

The President of Dangote Group, Aliko Dangote, says he doesn’t have a house anywhere outside Nigeria.

Dangote, who is Africa’s richest man, however revealed that some of his staff have houses abroad which they use as holiday homes.

The billionaire businessman made the disclosure in an interview with Business Insider Africa and published recently on Tonyelumelufoundation’s verified Instagram account.

He stressed that acquiring luxurious things could be a distraction, saying: “Luxury things – they also take up your time which will not make you focus on your business.

READ ALSO: Bloomberg rates Dangote richest man in Africa with $15.6bn

“I mean, I don’t have any holiday home anywhere; I don’t have a house anywhere but I know people who are working for me, they have a house in London. But I don’t.”

Dangote added: “A lot of people even the younger ones, we need to be very careful because one of the biggest issues. With us Africans, it is that we spend our projected incomes.

“Once you start doing business and the business starts doing well, rather than for you to keep investing into the business, you start spending money and thinking that the profit will continue to come. There are ups and downs in business so you need to be very focused and say ‘Okay fine what do you do and how to do those things’.”

The Star