Founder, Chairman, and CEO of the Dangote Group, Aliko Dangote, has disclosed that while some of his staff have houses abroad which they use as holiday homes, he has none.
In an interview conducted by Business Insider Africa and published recently on the Tonyelumelufoundation’s verified Instagram account, Dangote stated that acquiring luxurious things 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 working for me; they have a house in London. But I don’t.”
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The business mogul noted that Africans, especially the younger ones, spend their projected income which is one of the most significant challenges affecting business growth.
His words:
“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.
“Business has ups and downs, so you need to be very focused.”
