Elijah Ntongai, a journalist at TUKO.co.ke, has over four years of financial, business, and technology research and reporting experience, providing insights into Kenyan and global trends.

The richest man in Africa, Aliko Dangote, has retired as the chairman of the Dangote Sugar Refinery.

Dangote's retirement, which will take effect on June 16, brings an end to his 20-year tenure at the helm of the company's board of directors.

“In line with the principles of good corporate governance and succession planning, Dangote Sugar Refinery Plc hereby announces the retirement of our esteemed Chairman of the Board of Directors of the Company, Alhaji Aliko Dangote (GCON), effective June 16, 2025,” read the statement released by the company.

Dangote founded the company in 2005. Under his leadership, the Dangote group has grown into one of the biggest brands in Nigeria's sugar industry.

The Dangote Sugar board has elected Arnold Ekpe to succeed Dangote. Ekpe brings an expansive experience having held executive roles across the banking and industrial sectors in Africa.

“Following a rigorous selection and transition process, the Board is pleased to announce the appointment of Mr. Arnold Ekpe, Independent Non-Executive Director, as the new Chairman of Dangote Sugar Refinery Plc. effective 16th June 2025. We welcome Mr. Ekpe to his new role and look forward to the next chapter in our Company’s journey under his leadership. We also express our deep appreciation to Alhaji Aliko Dangote for his years of exemplary service and unwavering commitment to excellence,” the statement read.

Dangote's retirement from Dangote Sugar comes barely two months after he celebrated his 68th birthday.

Dangote received tributes from industry leaders as well as Nigeria's president Tinubu who commended him for the impact he has had in the industrialisation of Nigeria.

During the private ceremony, top Nigerian banks, Guaranty Trust Bank, Access Bank, and First City Monument Bank, honoured him with custom-designed cakes symbolising his major business ventures. The cakes depicted a refinery, a cement factory, and a mosque, reflecting Dangote’s industrial, economic, and cultural influence.

In other news, Aliko Dangote expanded his footprint into Kenya’s tourism industry by acquiring Pollman’s Tours and Safaris.

Pollman's Tours and Safaris is Kenya’s oldest tour operator. The Dangote-backed Africa Travel Investments bought the Kenyan company in a deal worth KSh 4 billion.

The Competition Authority of Kenya approved the deal, confirming it would not affect market competition, employment, or small businesses since the buyer and target operate in different sectors.

Source: TUKO.co.ke