The President and Chief Executive of the Dangote Group, Aliko Dangote, says he has accepted his appointment to the World Bank’s Private Sector Investment Lab, joining a select group of global business leaders tasked with driving investment and job creation in emerging economies.

In 2023, the Prime Minister of Canada, Mark Carney, co-chaired the Private Sector Investment Lab, which focused on attracting £1 trillion in sustainable investment to support the energy transition in emerging markets.

In a statement confirming his acceptance, Dangote reaffirmed his commitment to fostering sustainable economic growth through private sector-led investment, noting 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,” he said.

Dangote added, “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.”

The World Bank announced Dangote’s appointment on Wednesday as 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.

Joining Dangote in the elite group are 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.

(PUNCH)

Bolt, Nigeria’s largest e-hailing startup by market share, says it is seeking dialogue with driver representatives following a planned 24-hour strike by app-based drivers in Lagos, scheduled for May 1, over poor earnings and working conditions.

In an emailed response to PUNCH Online on Thursday, the Estonian ride-hailing operator acknowledged some of the concerns raised by the drivers and confirmed its openness to discussions aimed at addressing its drivers’grievances.

The strike, announced on Tuesday by the Lagos State chapter of the Amalgamated Union of App-Based Transporters of Nigeria, targets major operators including Bolt, Uber, In Drive, and others.

The union accused the companies of ignoring repeated calls for fair compensation, safer working conditions, and recognition of workers’ rights.

The union accused the companies of ignoring repeated calls for fair compensation, safer working conditions, and recognition of workers’ rights.

The Nigeria AfCFTA Coordination Office has concluded arrangements for hosting the first-ever AfCFTA Hackathon in the country with a N20 million grand prize.

Held as a flagship event at the Science of Trade (SOT) Conference 2025, hosted by Ascend Studios Foundation, the maiden AfCFTA Hackathon is set to take place from May 1 to 3, 2025, in Lagos.

AfCFTA Coordination Office and Director of the Hackathon Project, Mr Olusegun Olutayo, disclosed this in a press release.

He emphasized thatthe hackathon is an innovative, tech-driven challenge specifically designed with Nigeria’s enterprising youth in mind.

The initiative, led by Cherith-Code Concept Ltd, an International Trade Consortium, is supported by a coalition of partners, including Ascend Studios Foundation, Amazon Web Services, GFA Technologies, the National Information Technology Development Agency (NITDA), and Real Sources Africa, a Kenya-based company.

This annual, high-impact project will focus on unpacking the opportunities presented by the newly adopted AfCFTA Digital Trade Protocol (DTP).

The platform will serve as a hub for developing competitive, practical and innovative solutions to power digital trade across Africa.

The convener of the SOT conference, Dr Inya Lawal, expressed enthusiasm about the hackathon’s transformative potential and the partnership with the Nigeria AfCFTA Coordination Office.