Seeing US$10 million is believing

World | AGENCE FRANCE-PRESSE 8 Apr 2019

Nigerian billionaire Aliko Dangote, Africa's richest man, once took US$10 million (HK$77.8 million) out of a bank just to look at it and get it into his head it was real money.

"When you're young your first million is important but after the numbers don't mean much," Dangote, who has companies spanning cement to flour, told a forum in Ivory Coast.

"One day I cashed US$10 million, put it in the boot of my car and then in my room.

I looked at the cash and thought 'now I believe I have money' and took it back to the bank next day."

He sees agriculture and new technologies as Africa's future but advised young entrepreneurs not to get carried away. "Often we spend our projected incomes," he said, but "there are ups and downs."

He also hit at red tape, citing difficulties his cement group has faced in exporting to Benin from Nigerian factories 40 kilometers from the border. Benin has imported "more expensive" cement from China, he said.

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