Aliko Dangote, Africa’s richest man, planned to leave one-third of his wealth to charity. His daughter Halima Dangote disclosed the arrangement in an interview with Bloomberg published on Tuesday. She serves as a trustee of the Aliko Dangote Foundation.
Dangote’s net worth stood at an estimated 35.1 billion dollars according to the Bloomberg Billionaires Index. One-third of that figure amounted to approximately 11.7 billion dollars.
Halima Dangote explained that her father secured full family backing for the plan. He asked her, her two sisters and his mother to sign the will. The commitment follows Islamic inheritance rules under Sharia code.
She noted that he had already donated 25 per cent to the foundation. Under the relevant Islamic principles, this equated to 33 per cent of his whole inheritance.
Halima Dangote stressed the importance of the decision. “That is how important it is to him,” she said. She added that philanthropy needs to continue generation after generation.
She further stated: “Giving back is part and parcel of what we do. Our business is successful because of the giving back.” The family focuses heavily on health and education through the foundation structures he put in place.
The Aliko Dangote Foundation was established in 1994. It received an endowment of 1.25 billion dollars about a decade earlier and an additional 700 million dollars in later funding. The new commitment forms part of the long-term succession and legacy strategy.
