BUSINESS ENVIRONMENT : Aliko Dangote loses $1.5 billion in November 2025

(LVDE) – Aliko Dangote, Africa’s richest man, suffered a loss of 1.5 billion dollars in November 2025 due to a sharp depreciation of his assets, mainly those of Dangote Cement. Despite this contraction, his business empire continues to invest in ambitious projects across the continent.

November 2025 has proven to be particularly challenging for Aliko Dangote. Within just a few weeks, his net worth—initially valued at 30.6 billion dollars (about 17.4 trillion CFA francs) at the beginning of the month—fell to 29.1 billion dollars, or nearly 16.6 trillion CFA francs as of November 25. This represents a drop of approximately 1.5 billion dollars, or around 850 billion CFA francs.

This downturn is mainly due to the devaluation of shares in Dangote Cement, the cornerstone of his business empire and his primary publicly listed asset. Aliko Dangote’s 87.45% stake in the company saw a significant decline in market value. At the start of November, it was estimated at 6.7 billion dollars (about 3.8 trillion CFA francs), but it fell to around 5.3 billion dollars (roughly 3.0 trillion CFA francs), resulting in a loss of about 1.4 billion dollars, or nearly 800 billion CFA francs. Dangote Cement’s stock price dropped by more than 19%, falling from 660 naira to 534.6 naira, roughly 209 CFA francs.

This reversal is all the more surprising given that Dangote Cement recently published some of the best financial results in its history. Over the first nine months of 2025, the company recorded a profit of 743.3 billion naira (around 291 billion CFA francs), nearly triple its performance from the previous year. Revenue and exports to countries such as Cameroon, Ghana, and the Democratic Republic of Congo show a strong growth momentum. Thus, the stock price decline appears to be more a result of market decisions than any operational or managerial difficulties.

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Despite the turbulence on the stock market, the Dangote Group remains determined to pursue its expansion across Africa with large-scale projects. In early November 2025, a 1 billion-dollar investment agreement (about 569 billion CFA francs) was signed with Zimbabwe to build a new fertilizer plant and a 2,000-kilometre pipeline linking Walvis Bay in Namibia to Bulawayo in Zimbabwe. This project aims to transform the energy and agricultural supply landscape of southern Africa.

Additionally, Dangote Fertilizer Limited partnered with German company thyssenkrupp Uhde to enhance its urea production capacity in Nigeria, integrating state-of-the-art technologies into its operations.

In the sugar sector, Dangote is also moving forward. With an investment programme exceeding 700 million dollars (around 398 billion CFA francs), the group plans to modernize its plantations and equipment while improving infrastructure and implementing training initiatives for local communities. Already Africa’s leading producer with 1.44 million tonnes of sugar per year, Dangote Sugar reported revenue of 626.24 billion naira (approximately 244.8 billion CFA francs) in the first nine months of 2025, significantly higher than the previous year.

Beyond the fluctuations of his personal fortune—recent volatility largely driven by an unfavourable stock market environment—Dangote’s companies continue to show remarkable financial strength. Ongoing developments in cement, fertilizers, sugar, and infrastructure reinforce Dangote’s position as a key player in Africa’s economic landscape. Despite the current storm, his long-term investments and adaptability suggest a promising future for this industrial empire.

Esther Grace