Aliko Dangote, Africa’s richest man, announced his retirement as Chairman of Dangote Cement Plc on July 26, 2025, marking the end of a 27-year tenure that transformed the company into a $20 billion conglomerate.
The decision, disclosed during the company’s annual general meeting in Lagos, cites a desire to focus on philanthropy and new ventures, with his nephew, Aliko Damilola Dangote, appointed as the new Chairman effective August 1. Under Dangote’s leadership, the firm expanded across 10 African countries, producing 51.6 million metric tons of cement in 2024, a 15% increase from 2023.
The transition follows a 2024 refinery project completion, shifting his focus to the $20 billion Dangote Refinery. Analysts praise his legacy but caution the cement sector’s reliance on his vision, with shares dropping 3% post-announcement. The narrative of a business titan’s exit is significant, with the company’s future hinging on new leadership’s performance.
