The World Bank has appointed the President and Chief
Executive of the Dangote Group, Aliko Dangote, to its Private Sector Investment
Lab, aimed at driving job creation in emerging economies.
In a statement released on Thursday, Dangote,
in his acceptance, reaffirmed his commitment to fostering sustainable economic
growth through private sector-led investment, highlighting the transformative
potential of such initiatives in developing markets.
“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,” the richest man in Africa
said.
“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.”
Dangote’s appointment was announced by the World Bank on
Wednesday as part of a broader expansion of its Private Sector Investment Lab,
which is now entering a new phase aimed at scaling up solutions to attract
private capital and generate employment in the developing world.
Joining Dangote in this elite group are Bill Anderson, CEO
of Bayer AG; Sunil Bharti Mittal, Chair of Bharti Enterprises; and Mark
Hoplamazian, President and CEO of Hyatt Hotels Corporation.
Earlier, the World Bank stated that the expanded membership
brings together business leaders with proven track records in generating
employment across 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,” said World Bank Group President Ajay Banga. “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.”
In 2023, Mark Carney, the Prime Minister of Canada,
co-chaired the Private Sector Investment Lab, which focused on attracting £1
trillion in sustainable investment to support the energy transition in emerging
markets.
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