Aliko Dangote, the esteemed President and Chief Executive of the Dangote Group, has expressed his gratitude upon being appointed to the World Bank’s Private Sector Investment Lab. This prominent body is focused on stimulating investment and job growth in developing economies.
In his acceptance statement, Dangote emphasized his dedication to facilitating sustainable economic progress through private sector-led initiatives. He highlighted the transformative potential these could have in developing markets.
“I am deeply honored and thrilled to accept my appointment to the World Bank’s Private Sector Investment Lab, aimed at promoting investment and employment in emerging economies,” Dangote declared. He continued, “This aligns with my enduring commitment to sustainable development and harnessing the potential of developing markets. Drawing from the Asian Tigers’ exemplary successes through strategic investment and focused economic policies, I am keen to work with fellow leaders to replicate such achievements in other regions.”
In 2023, the Canadian Prime Minister, Mark Carney, co-chaired the Private Sector Investment Lab, targeting an impressive £1 trillion in sustainable investments to aid the energy transition in emerging markets.
Dangote’s appointment was part of a broader expansion of the World Bank’s Private Sector Investment Lab. This new phase aims to enhance strategies for attracting private capital and creating job opportunities in the developing world.
Joining this elite group alongside Dangote are other global business leaders, including Bill Anderson (CEO of Bayer AG), Sunil Bharti Mittal (Chair of Bharti Enterprises), and Mark Hoplamazian (President and CEO of Hyatt Hotels Corporation).
The World Bank highlighted that the expanded membership pools together business leaders with proven expertise in job generation in developing economies, reinforcing the Bank’s focus on employment creation as a cornerstone of global development.
Ajay Banga, World Bank Group President, stated, “This expanded membership allows us to integrate this work across our operations, directly linking to our jobs agenda at the heart of our strategy. This isn’t about altruism; it’s about demonstrating to the private sector the path to profitable investments that uplift people and economies alike.”
Over the past 18 months, the Lab has united leaders from global financial entities to tackle crucial barriers to private sector investment in developing countries and to test practical solutions. The efforts have culminated in five priority focus areas now being incorporated into the bank’s operations, including regulatory and policy certainty.
The Dangote Group, founded by Aliko Dangote, stands as the largest conglomerate in West Africa and one of Africa’s leading companies. With diversified interests
Source: https://punchng.com
