Business
Aliko Dangote Celebrates African Young Global Leaders
President, and Chief Executive Officer of the Dangote Group, Aliko Dangote, learned about the Forum of Young Global Leaders (YGLs) and the tremendous potential of this unique World Economic Forum community to develop the next generation of African leaders from all parts of society, at the World Economic Forum Annual Meeting 2011 in Davos, Switzerland.
The Young Global Leaders programme is an accelerator for a dynamic community of exceptional young people from all over the world with the vision, courage, and influence to drive positive change in the world. This philosophy aligned neatly with Aliko Dangote’s vision for an Africa whose people are healthier, better educated, and more empowered through enhanced opportunities for social change through strategic investments that improve health and wellbeing, promote quality education and broaden empowerment opportunities for individuals and communities.

He, therefore, through Aliko Dangote Foundation, (ADF) partnered with the Forum to establish the Aliko Dangote African Fellowship programme to guarantee the full engagement of young African leaders from small and medium enterprises (SMEs) and non-business entities who might otherwise not be able to participate in the Forum’s Young Global Leaders Community. The fellowship covers the cost of their participation at World Economic Forum and YGL-led events for 6 years for each Fellow.
Now in the twelfth year of collaboration with the WEF YGL programme, the Aliko Dangote (WEF Africa YGL) Fellows continue to represent the continent on the global stage and give back to their communities in a multiplicity of impactful ways. The partnership has ensured a richness in the diversity of the YGL community – adding an important African perspective, inspiring impact, and making sure that all voices have a chance to be heard where global decisions are debated, discovered, and made.

Since the start of the WEF YGL programme 20 years ago, the World Economic Forum nominates up to two hundred exceptional young leaders under 40 for a six-year period of membership. Following the partnership with Dangote 12 years ago, the programme has included 15-20 young leaders from sub-Saharan Africa following a rigorous selection process. At any one time, the African YGL Community consists of around eighty active members, 75% of whom are eligible for the Dangote Fellowship.
Fatima Aliko Dangote, ED Dangote Industries, expressed pride at the diversity and high proportion of female fellows in the 2023 Cohort, where the nine chosen YGLs represent the media/arts/entertainment, technology & innovation, health, and government sectors.
The ADF-YGL Lagos Convening which took place on September 8th, was an excellent opportunity for the participating current and alumni YGL Africa Fellows to meet and interact with their patron, Alhaji Aliko Dangote at the site of his most ambitious project to date; the multi-billion-dollars Petroleum complex at Lekki. They were able to interact with Alhaji Aliko Dangote and senior executives of Dangote Group and be inspired by his vision and engage in informal conversation about their journey as YGLs and the impact the community has had on their personal and professional development.

After a tour of the Fertilizer and the Refinery complex, the immensely impressed alumni’ were full of praise for their mentor, describing him as “the best hope for Africa”.
Aliko Dangote YGL Alum and Executive Director, of African Youth Initiative Network, Victor Ochen from Uganda, said he was extremely impressed with what he saw at the refinery and that the aggressive investment in the project has shown how much faith Aliko Dangote has in the African continent. While lauding Dangote’s investment drive, he also appreciated him for his generosity in providing financial means for him to participate in forum events he otherwise would have been unable to do.
According to him: “I am so happy with what Dangote is doing in Nigeria and Africa as a whole. This is a man that is investing in the youth through his foundation and employing tens of thousands of Africans, in his various plants. I am so humbled to be here, and to learn from the expertise of this man whom God has blessed our continent with…I thank Dangote for his generosity, which has provided many young African leaders, regardless of the country, the much-needed financial means to participate in YGL events. Without the support of ADF, our active participation would not have been possible.”

In the same vein, Fatoumata Ba from Senegal, said this trip to the Refinery has further fueled her ambition to put in all it takes into what she does and make Africa proud the way Dangote is doing. Ba, a Tech Entrepreneur & VC Investor is currently the Founder & Executive Chair of Janngo Capital and Chairwoman of the Board of Auchan in Africa. Explaining what she does and how YGL has impacted her positively, she said her company, Janngo is Africa’s largest gender equal tech fund and is backed by top-tier African & International strategic and financial investors; a journey that was made possible through her participation in the YGL programme.
She said: “Being a YGL has not only been a great opportunity to amplify our dreams but also an opportunity to promote a culture of peace and growth. We are committed to developing and representing Africa with integrity.”
Managing Director/CEO of the Aliko Dangote Foundation (ADF), Zouera Youssoufou, thanked Dangote for his continuous support of the YGLs, and assured him that his investment is not in vain, as the young global leaders are achieving exploits in their respective fields and living up to the expectations of being true African future leaders.
Dangote encouraged the YGLs to put in their best in their various fields and not be discouraged when setbacks occur, because those are to be expected. He encouraged them to continue raising their ambition for our continent because “Nothing is Impossible”.
Business
Naira Exchange Rates Friday, October 16
BLACK/ PARALLEL MARKET RATES
₦1370 DOLLAR (USD)
₦1800 POUND (GBP)
₦1510 EURO (EUR)
₦970 CANADIAN DOLLAR (CAD)
₦65 SOUTH AFRICAN RAND (ZAR)
₦350 UAE DIRHAM (AED)
₦190 CHINESE YUAN (CNY)
₦100 GHANAIAN CEDI (GHS)
₦2300 WEST AFRICAN CFA F.(XOF)
₦2200 CENTRAL AFRICAN CFA F.(XAF)
₦850 AUSTRALIAN DOLLAR AUSSIE (AUD)
CBN OFFICIAL RATES
DOLLAR (USD)₦1331.61
POUND (GBP)₦1764.26
EURO (EUR)₦1490.48
SWISS FRANC (CHF)₦1608.23
JAPANESE YEN (JPN)₦8.4
CFA FRANC (XOF)₦2.27
WEST AFRICAN UNIT OF ACCOUNT (WAUA)₦1802.33
CHINESE YUAN (CNY)₦199.01
SAUDI RIYAL (SAR)₦354.83
SOUTH AFRICAN RAND (ZAR)₦80.49
Business
WEF could appoint Lagarde as its next chair, sources say
The WEF’s Board of Trustees, which includes Lagarde herself, was due to meet on November 2 and could elect her as its next chair, said the people close to the organisation, who spoke on condition of anonymity due to the sensitivity of the matter.
•European Central Bank President Christine Lagarde
The World Economic Forum could appoint Christine Lagarde as its next chair as soon as next month, four people close to the organisation told Reuters, meaning she would step down early as European Central Bank chief and trigger a wider reshuffle at the top of the ECB.Lagarde’s ECB term is scheduled to end in October 2027.
Leaving early would give European Union leaders a chance to pick a new ECB President before France’s spring presidential election, which opinion polls suggest the far-right could win, and could pave the way for a deal involving two other senior ECB roles.
The WEF’s Board of Trustees, which includes Lagarde herself, was due to meet on November 2 and could elect her as its next chair, said the people close to the organisation, who spoke on condition of anonymity due to the sensitivity of the matter.
No final decision has been taken yet, they said.
A spokesperson for the WEF said the forum could not confirm when the next full Board of Trustees meeting would take place, but that the aim was to hold one before the end of the year.
Business
Germany plans tax on sugary drinks
The tax is expected to generate additional revenue for the federal government of €690 million in 2027 and €925 million in 2028.
The German cabinet has approved draft legislation to tax sugary drinks in Europe’s biggest economy.
If passed by the German Bundestag, the tax will take effect on 1 July 2027.
The coalition aims to raise revenue for the federal budget while encouraging manufacturers to reduce sugar content and offer healthier products.
The levy is intended to ease pressure on the healthcare system, which faces costs of more than €2 billion every year linked to the high consumption of sugary drinks, which contributes to obesity, diabetes and tooth decay.
According to the federal government, Berlin is using the tax to implement “what associations from the fields of health, science, child protection, and consumer protection have long been demanding.”
The tax is expected to generate additional revenue for the federal government of €690 million in 2027 and €925 million in 2028.
-
Business2 days agoNaira Exchange Rates For Thursday, October 15
-
Sports2 days agoCAF Increases Annual Funding for Member Federations to $700,000
-
News2 days agoASCON To Be Rebranded “National School Of Government”
-
Business2 days agoGermany plans tax on sugary drinks
-
Business2 days agoWEF could appoint Lagarde as its next chair, sources say
-
International2 days ago“Mother of all bombs,” Trump Plans To Hit Iran
-
News3 days agoSanwo-Olu Appoints Olatunbosun Ogunbanwo, 5 Others as Perm Secs
-
Business1 day agoNaira Exchange Rates Friday, October 16
