- Safiu Kehinde
The World Bank has appointed the Chief Executive Officer of Dangote Group, Aliko Dangote, into its Private Sector Investment Lab.
Dangote’s appointment was announced by the bank on Wednesday.
The appointment of the African richest man, according to World Bank, was part of a broader expansion of its Private Sector Investment Lab, which now enters a new phase aimed at scaling up solutions to attract private capital and create jobs in the developing world.
Dangote will be joined in the elite group by the CEO of Bayer AG, Bill Anderson; the Chair of Bharti Enterprises, Sunil Bharti Mittal; and the President and CEO of Hyatt Hotels Corporation, Mark Hoplamazian.
Confirming the development in a statement issued in Thursday, Dangote stressed that the appointment aligned with my long-standing commitment to sustainable development and unlocking the potential of developing economies.
“I am both honoured and excited to accept my appointment to the World Bank’s Private Sector Investment Lab, dedicated to advancing investment and employment in emerging economies,
“This opportunity aligns with my long-standing commitment to sustainable development and unlocking the potential of developing economies. Drawing inspiration from the remarkable successes of the Asian Tigers, which have demonstrated the power of strategic investment and focused economic policy, I am eager to collaborate with fellow leaders to replicate such outcomes across other regions.” he wrote.
According to report, the World Bank, in the statement announcing Dangote’s appointment, said the expanded membership brings together business leaders with proven track records in generating employment in developing economies, supporting the Bank’s sharpened focus on job creation as a central pillar of global development.
“With the expanded membership, we are mainstreaming this work across our operations and tying it directly to the jobs agenda that is driving our strategy.
“This isn’t about altruism—it’s about helping the private sector see a path to investments that will deliver returns, and lift people and economies alike. It’s central to our mandate,” said World Bank Group President Ajay Banga.