10 Secrets Of How Aliko Dangote Made His
Billions

Africa’s richest man Alhaji Aliko Dangote is the most successful businessman of the continent. His business is presented in a lot of countries.
As of January 2015, Dangote had an estimated net worth of US$18.6 billion.He made his fortune is cement, sugar and flour. In April 2014, months before oil prices plunged, he announced $9 billion in financing from a consortium of local and international lenders to construct a private oil refinery and fertilizer and petrochemical complex in the country. In August 2014 he said he would invest $1 billion in commercial rice farming and modern rice mills. His publicly traded Dangote Cement is also grabbing new markets in Africa, with $750 million in new plants planned for Kenya and Niger. His net worth tumbled from $25 billion in February 2014 as a result of a weaker Nigerian currency and a drop in demand for cement. He made his first fortune more than three decades ago when he started trading commodities with a loan from his powerful uncle.

Nigerianbulletin reviews some of his financial secrets:

1. He once worked for someone

Dangote worked for his uncle, Sani Dangote. He served his master diligently. He acted in accordance to the statement which says if you must lead, you must serve. It was while working for his uncle that he gathered experience, skills and confidence.

2. He took a loan to start his business

Aliko Dangote started his business with the NGN 500,000 loan he took from his uncle/master. He approached his uncle in 1977 and told him about his plan to establish a business outfit and his uncle gave him the loan to start the business. However, he was given a three-month-deadline and he repaid the loan in three months.

3. He kicked off his business by trading in commodities

Sugar, rice, pasta, salt, cotton, millet, cocoa, textile and vegetable oil were the commodities he started his business with. He was importing these commodities into Nigeria.

4. He developed a strong distribution network

Since production is not complete until the goods reach the final consumer, Dangote developed a strong distribution channel that made his goods delivered faster than his competitors’ goods.

5. He leaped from importation to manufacturing

After some years in his importation business, Aliko Dangote transformed into a producer of products he was importing. In one of his statements, he revealed that changing from an importer to a manufacturer has so far been his best move. The move produced Dangote Group, an organization that controls over 13 companies.

6. He built a brand

Dangote built a vibrant brand for his business. He corroborated this during an interview by saying “to succeed in business, you must build a brand and never destroy it. One competitive advantage I had when I ventured into manufacturing was my brand (Dangote), which I diligently built in the course of my trading.”

7. He sells cheap quality products

In his mission to gain the loyalty of his customers, Dangote started selling his competitive products at cheaper rates compared to his competitors’ rates.

8. He had a big breakthrough

Dangote’s networking skills and ability to make unprecedented connections made him record the major breakthrough he needed for the prosperity of his business. His break through emerged when he acquired the license to import cement.

9. He works pretty hard

As an astute businessman, Alhaji Aliko Dangote spends most of his time strategizing and brainstorming on how to grow his business. Reports have it that he sleeps by 2:00 am and wakes up by 5:00 am everyday. Can you beat that?

10. He obeys the laws of the land

Unlike other cunning businessmen, Dangote is an upright man as far as abiding by the rules and regulations governing the ethics of business are concerned. He keeps his credit records as well as his tax records tidy and he preaches that business should be done as stipulated by the regulatory bodies.



http://www.naij.com/426890-wealth-secrets-of-aliko-dangote.html

He said 5000k was the cost of Mercedes 200 then.which means his uncle gave him loan of 100 Benz figure that.

He may not be upright getting all these anyway

G

Who is Aliko Dangote?

.

Join you soon. Working on my ideas. See you at Forbes in the nearest future.

leave matter for Mathias he made it because he was born rich and remained rich, and play d political game with sense , 500k in 1977 nna ehn

What is left for we other Nigerians to sell then ?

If only everybody had people like dangote's uncle everywhere....

emmykk:
He said 5000k was the cost of Mercedes 200 then.which means his uncle gave him loan of 100 Benz figure .

It's easy to accumulate wealth when you 're frm a wealthy family.

Empty pockets never held anyone back. Only empty heads and
empty hearts can do that. –Norman Vincent Peale

Still waiting for the secrets!!!

the secret is incomplete if you don't include government patronage.

Everfrank:
10 Secrets Of How Aliko Dangote Made His
Billions

Africa’s richest man Alhaji Aliko Dangote is the most successful businessman of the continent. His business is presented in a lot of countries.
As of January 2015, Dangote had an estimated net worth of US$18.6 billion.He made his fortune is cement, sugar and flour. In April 2014, months before oil prices plunged, he announced $9 billion in financing from a consortium of local and international lenders to construct a private oil refinery and fertilizer and petrochemical complex in the country. In August 2014 he said he would invest $1 billion in commercial rice farming and modern rice mills. His publicly traded Dangote Cement is also grabbing new markets in Africa, with $750 million in new plants planned for Kenya and Niger. His net worth tumbled from $25 billion in February 2014 as a result of a weaker Nigerian currency and a drop in demand for cement. He made his first fortune more than three decades ago when he started trading commodities with a loan from his powerful uncle.

Nigerianbulletin reviews some of his financial secrets:

1. He once worked for someone

Dangote worked for his uncle, Sani Dangote. He served his master diligently. He acted in accordance to the statement which says if you must lead, you must serve. It was while working for his uncle that he gathered experience, skills and confidence.

2. He took a loan to start his business

Aliko Dangote started his business with the NGN 500,000 loan he took from his uncle/master. He approached his uncle in 1977 and told him about his plan to establish a business outfit and his uncle gave him the loan to start the business. However, he was given a three-month-deadline and he repaid the loan in three months.

3. He kicked off his business by trading in commodities

Sugar, rice, pasta, salt, cotton, millet, cocoa, textile and vegetable oil were the commodities he started his business with. He was importing these commodities into Nigeria.

4. He developed a strong distribution network

Since production is not complete until the goods reach the final consumer, Dangote developed a strong distribution channel that made his goods delivered faster than his competitors’ goods.

5. He leaped from importation to manufacturing

After some years in his importation business, Aliko Dangote transformed into a producer of products he was importing. In one of his statements, he revealed that changing from an importer to a manufacturer has so far been his best move. The move produced Dangote Group, an organization that controls over 13 companies.

6. He built a brand

Dangote built a vibrant brand for his business. He corroborated this during an interview by saying “to succeed in business, you must build a brand and never destroy it. One competitive advantage I had when I ventured into manufacturing was my brand (Dangote), which I diligently built in the course of my trading.”

7. He sells cheap quality products

In his mission to gain the loyalty of his customers, Dangote started selling his competitive products at cheaper rates compared to his competitors’ rates.

8. He had a big breakthrough

Dangote’s networking skills and ability to make unprecedented connections made him record the major breakthrough he needed for the prosperity of his business. His break through emerged when he acquired the license to import cement.

9. He works pretty hard

As an astute businessman, Alhaji Aliko Dangote spends most of his time strategizing and brainstorming on how to grow his business. Reports have it that he sleeps by 2:00 am and wakes up by 5:00 am everyday. Can you beat that?

10. He obeys the laws of the land

Unlike other cunning businessmen, Dangote is an upright man as far as abiding by the rules and regulations governing the ethics of business are concerned. He keeps his credit records as well as his tax records tidy and he preaches that business should be done as stipulated by the regulatory bodies.



http://www.naij.com/426890-wealth-secrets-of-aliko-dangote.html

story story


story

99% lies

He got the laws switched in his favor by his kinsmen in government

11. The Nigerian Government monopolize the market for him

l dey read....but OP Dangote has been seriously connected right from birth coupled with his acumen, not the rag to riches lane. Dangote has always been loyal to any government in power and he has always been rewarded with concessions, which at most times stifled competition, imagine controlling the Nigerian market, the returns is liken to ritual money. The entire East African region market is only about 60% of Nigerian's , you can imagine!

k

A nice lesson for me

Dangote was from a wealthy background. You forgot to add corruption to the secret.

Lobbying govt in power with bribe and shares for monopoly of a line of business.

Back when he took 600k loan. Dollar was equal to naira. Just fyi


He is also known to be very stingy.

Nonsense

Abacha made him rich. Obj made him richer by giving him control over everything; cements, flour etc. this man practically owned d Nigerian stock exchange. That's why he keeps rallying around politicians

Borrow me 500m to start business bros
Gimme 2years then I'll return back with interest

Conniving with the govt in power to stiffle competitors like ibeto cement

emmykk:
He said 5000k was the cost of Mercedes 200 then.which means his uncle gave him loan of 100 Benz figure that.

He may not be upright getting all these anyway

Well going by today's values, his uncle actually loaned him well over 500million naira. That in itself is massive. You must be a Dangote to get that kind of loan anytime.

free2ryhme:



story story


story

99% lies

Then tell us the truth or shut up.

gbam!

thats good to know