The World Bank has named Aliko Dangote, President and CEO of the Dangote Group, to its Private Sector Investment Lab, an initiative focused on driving job creation in emerging economies. Dangote expressed his commitment to sustainable economic growth through private sector investment upon accepting the appointmen

[dropcap]T[/dropcap]he World Bank has announced the appointment of Aliko Dangote, the President and Chief Executive of the Dangote Group, to its esteemed Private Sector Investment Lab.

Also read: Dangote slashes petrol price to ₦865/litre

This initiative is strategically designed to foster job creation and stimulate economic growth within emerging economies.

In a statement released today, Dangote conveyed his acceptance of the appointment and reaffirmed his dedication to promoting sustainable economic development through private sector-led investment.

He emphasized the significant 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,” stated Africa’s wealthiest individual.

“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’s announcement of Dangote’s inclusion came on Wednesday, marking a significant expansion of its Private Sector Investment Lab.

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.” – Aliko Dangote.

This expansion signifies a new phase focused on scaling up effective solutions aimed at attracting private capital and generating substantial employment opportunities in the developing world.

Joining Dangote in this influential group are prominent global business leaders, including Bill Anderson, CEO of Bayer AG; Sunil Bharti Mittal, Chair of Bharti Enterprises; and Mark Hoplamazian, President and CEO of Hyatt Hotels Corporation.

The World Bank had previously underscored that the expanded membership strategically unites business leaders with a proven history of generating employment across developing economies.

This aligns with the bank’s intensified focus on job creation as a fundamental pillar of global development.

“With the expanded membership, we are mainstreaming this work across our operations and tying it directly to the jobs agenda that is driving our strategy,” commented World Bank Group President Ajay Banga.

“This isn’t about altruism—it’s about helping the private sector see a path to investments that will deliver returns and lift people and economies alike. It’s central to our mandate.”

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