The business mogul hinted that he avoids luxury things “because they distract and take time”.
Dangote said: “I don’t have any holiday home anywhere. I don’t have a house anywhere but I know people who are working for me…they have houses in London.”
“But you see, a lot of people, even the younger ones, we need to be very careful because one of biggest issues with us as Africans is that we spend our projected incomes.
“Once you start doing business [and] it starts doing well, but rather than for you to invest more in the business, you start spending thinking that profit will continue to come.
“There are ups and downs in business so you need to be very focused.”
Asked of his opinion on areas young entrepreneurs should invest in, Dangote replied: “The sectors to focus on now are ICT and agriculture. These are the 2 promising sectors.”
From Daily Post
This is incredible...agriculture is the new oil but yet to be focused on.
ReplyDeleteHaving properties outside Nigeria is a Big investment Sir 🤷🏾♀️
DeleteStory
ReplyDeleteICT is the real deal now
ReplyDeleteI just totally agree. those are the two prospective sectors here in nigeria
ReplyDeleteWise man👍
ReplyDeleteShrewd business mogul. Too much sense.
ReplyDeleteYes @ICT 👌
ReplyDeleteBut he has billion naira yatch on the sea
ReplyDeleteAfi yatch naa.
DeleteVery true talk... sat on this table in the past and even broke it... being trying to stand on our feet since then.. wise talk.. let people adhere to this....
ReplyDeleteVery true talk... sat on this table in the past and even broke it... being trying to stand on our feet since then.. wise talk.. let people adhere to this....
ReplyDeleteYimu... the houses where your girlfriends stay nko?
ReplyDeleteWow!!!! "Projected income" any wonder why business don't last 5yrs in naija? Cos the owner bought a Mercedes on the first year of opening, built a house the second year and sent kids abroad to study the third year or perhaps changed their school from surulere to Ikoyi. Dangote wisdom no be here, the same you find in oyinbo billionaires.
ReplyDeleteWhat’s ICT?
ReplyDeleteInformation Communication Technology
DeleteSo his kids that schooled in UK where did they live?
ReplyDeleteMe i must buy house in US and UK when I get the money o.
Yes and simple mathematics. It cheaper to stay in a hotel when you travel out than buying, maintaining and keeping staff to run it. Since you travel alot, how many countries would you want to have a house in
ReplyDeleteYou could buy a simple 1 or 2 bedroom condo in a popular city frequented by tourists and rent it out on Airbnb or another such platform and use it as an income earner. Many people are gaining wealth in real estate this way. It doesn't have to be a big house, a condo is a home too. Just because he chooses not to do that does not mean it is not a viable or profitable investment for others. The majority of ppl will not have access to running a major corporation or hope to become a millionaire or billionaire, but most could afford to invest in a small condo to add to their asset portfolio,especially if they wait until a recession hits to purchase when prices plummet. Opportunities for wealth visit everyone at some time, but many times when the opportunity comes when there is no money to take advantage of it.
DeleteHe just said the truth.
ReplyDeleteTruth dey dere.
ReplyDelete