• Sunday, February 25, 2024
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BusinessDay

Here are 10 of Dangote’s private companies under radar

Dangote’s ordeal: EFCC raid sparks investors’ fear

Nigerian industrialist Aliko Dangote keeps his position as Africa’s wealthiest man for the 12th consecutive year, despite a $400m drop in his fortune to $13.5bn, according to Forbes’ list of African billionaires for 2023.

The year-to-year decrease in Dangote’s fortune is explained by a drop in the value of Dangote Cement shares – of which he owns 85 percent – as well as a year of elevated inflation due to a very volatile global environment.

Bloomberg reports that Dangote Group’s publicly traded businesses are Dangote Cement, Dangote Sugar, and Nascon Allied Industries.

These companies have established themselves as key players in the cement, sugar, and food production sectors in Nigeria and Africa at large.

Findings by BusinessDay showed Dangote owns several other valuable, privately-held, unquoted companies that add hundreds of millions of dollars to his wealth.

According to Billionaires Africa, these unquoted companies add hundreds of millions of dollars to his wealth.

Here are ten of them you’re probably not familiar with:

Twister B.V.

Dangote Industries Limited acquired Twister B.V. from Shell Technology Ventures Fund in 2016. Twister B.V., based in the Netherlands, develops gas processing solutions for the upstream and midstream oil and gas sectors.
In addition, the company offers a conditioning system, hydrate separator, engineering design, and consultancy services.

Dangote Sinotruk

In 2017, Dangote Industries established a $100-million truck assembly plant in Lagos. Dangote Group floated the plant in partnership with National Heavy Duty Truck Group Company Limited (SINOTRUK), a Chinese company.
The plant, located in Ikeja, Lagos, can produce 10,000 trucks annually. The Dangote Group owns 60 percent of the assembly plant, while SINOTRUK owns 40 percent.

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Greenview Development Nigeria Limited (GDNL)

Greenview Development Nigeria Limited (GDNL) is Dangote Group’s terminal operating arm, and it operates Terminal E of the Lagos Port Complex (LPC) in Apapa, Lagos.

Dangote Agro Sacks Limited

Dangote Agro Sacks Limited produces bags for packaging goods produced by companies within the Group. The company operates from three factories in Ikeja, Lagos, and one at Obajana in Kogi state, making woven, laminated, and A.D. star cement sacks.

Bluestar Shipping Lines

Bluestar Shipping Lines is an integrated shipping, freight forwarding, and stevedoring Company in 1996 to provide world-class shipping/maritime services, rendering excellent, prompt, efficient, and competitive services to our clients worldwide, including Break Bulk, Berthing, and Sailing of Vessels.

Saipem Dangote E&C

In 2015, Saipem, an Italian multinational oilfield services company and one of the largest in the world, partnered with Aliko Dangote’s holding company, Dangote Industries Limited, to create a new construction company called Saipem Dangote E&C. The Company handles complex Engineering & Construction projects in Africa.

Integrated Steel PLC

Dangote acquired the assets of Oshogbo Steel Rolling Mills more than a decade ago. The company presently operates as Integrated Steel Plc and produces steel bars and rods with a production capacity of 400,000 MT per annum. Integrated Steel PLC — 400,000Mtpa per product line production of M.S. and H.T. Ribbed bars from billetsPlain and Re-bar

DIL Power Limited

A power generating company, DIL Power Limited owns the Dangote Oil Fired Power Plant is a 400MW oil-fired power project.

Dangote Granite Mines Limited

The Dangote group owns and operates a massive granite mine in Ogun State, Nigersouthwest region.

Dangote Coal Mines Limited

Dangote Coal Mines Limited (DCM) is a mining company that mines coal in various parts of Kogi, Nigeria.