Some Of My Staff Have Houses Abroad But I Don’t Have One – Dangote Shares Tips On Business Management

For Aliko Dangote, financial management is a key factor in determining the success of any business.

The Africa’s richest man who granted an online interview recently revealed that some of the people he employed have houses overseas but he does not have despite the belief of people about him being stinkingly rich.

He said: “Some of my staff have houses abroad but I don’t have”

Dangote explained that they would travel to relax in their houses bought in various European countries whenever they are on holidays but on his part, each time he travels out of the country, it is for business and he mostly stays in the hotel.

Speaking in an interview conducted by Business Insider Africa and published on the Tonyelumelufoundation’s verified Instagram account, Dangote said,

“A lot of people especially the younger ones who are in business are missing up a lot of things about business and financial management.

“Once you start doing business and the business starts doing well, rather than for you to keep investing into the business, you start spending money and thinking that the profit will continue to come. There are ups and downs in business so you need to be very focused and say ‘Okay fine what do you do and how do you do those things.”

He further advised that acquiring luxury items could be a distraction.

Citing himself as an example, Dangote stated, “Luxury things — they also take up your time which will not make you focus on your business. I mean, I don’t have any holiday home anywhere; I don’t have a house anywhere but I know people who are working for me, they have a house in London. But I don’t,” he said.