In the last few days, I have listened quite a lot more to Africa’s biggest industrialist, Aliko Dangote speak. And it’s been awe-inspiring for me.
One key highlight for me is how he stated that he kept pouring back his resources into the business. He told Makhtar Diop of the International Finance Corporation (IFC) that the parent company, Dangote Industries Ltd., always pays dividends to investors, sometimes to the tune of 90%. But for him as a person, he shared: ‘I have never taken dividend out of the company since we started, everything has been reinvested back into the business, that’s why we are able to grow’. You see why the company is growing in leaps and bounds.
I acknowledge that such a decision may be difficult for an average Nigerian business owner whose entire living needs are dependent on the business. However, a business owner would have to find a way to create a structure for consistent, diligent reinvestment of some profit into the business. This is so as to reinforce the business to increase its expansion capacity, make it enjoy longevity as well as transforming it into a transgenerational wealth.
Alhaji Aliko Dangote belongs to a long line of investment greats starting from his forefather, one-time richest in West Africa, Alhassan Dantata who passed in 1955. He obviously has gotten the gene of business in him, but he is not taking it lightly nevertheless. For us who want to start a similar glory line, we have to toughen up. This is the way to make transgenerational wealth – Pour it back!!#YeahMomentsWithYO