The president and CEO of Dangote Group Aliko Dangote, has been appointed to the World Bank’s Private Sector Investment Lab, joining a select group of global business leaders tasked with accelerating investment and job creation in developing economies.
The appointment places Africa’s most prominent industrialist alongside other influential figures 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 announced that the expansion of the Investment Lab marks a new phase focused on scaling private capital solutions to boost employment and sustainable economic growth across emerging markets.
In a statement confirming his acceptance, Dangote expressed gratitude and enthusiasm for the opportunity, reaffirming his commitment to unlocking the potential of developing economies through strategic investment.
“I am honoured to join this initiative and excited to contribute to efforts that can transform developing markets,” Dangote said. “Drawing inspiration from the Asian Tigers’ success stories, we can replicate these outcomes through focused economic policies and strong private sector involvement.”
According to the World Bank, the Investment Lab brings together business leaders with proven records of stimulating job growth in developing economies. The initiative is closely aligned with the institution’s core strategy of making job creation a central pillar of global development.
World Bank Group President Ajay Banga emphasized the importance of the Lab’s mission: “This isn’t about altruism it’s about showing the private sector that sustainable investment in developing economies can deliver real returns while lifting people and entire regions.”
Originally co-chaired by former Bank of England Governor Mark Carney and the Prime Minister of Canada in 2023, the Investment Lab previously aimed to mobilize £1 trillion in sustainable finance for the energy transition in emerging markets.
Over the past 18 months, the Lab has convened top executives from global financial institutions to identify and address barriers to private sector investment in lower-income nations. Its work has led to five priority action areas, including regulatory and policy stability, which are now being integrated into the World Bank’s broader operations.
At its founding stage, the Lab included senior figures from companies such as AXA, BlackRock, HSBC, Macquarie, Mitsubishi UFJ Financial Group, Ninety One, Ping An Group, Royal Philips, Standard Bank, Standard Chartered, Tata Sons, Temasek, Sustainable Energy for All, and Three Cairns Group. It continues to be chaired by Shriti Vadera, Chair of Prudential plc.
