It’s no secret that Porsche remains one of the most profitable car companies and when you understand the DNA of the company, it makes sense. Ironic as it may appear, I’ve chosen to demonstrate this by using the most unlikely candidate of the range: the new Porsche Cayenne S V8 Diesel.
The new generation of Porsche Cayenne differs greatly from the inaugural SUV. The car has adopted a safer design and is more at home within the wider Porsche family range. It is one of the better looking SUVs on the road, but perhaps not from a macho viewpoint, like a Land Rover Discovery or Toyota Prado. In true Porsche spirit, form follows function. The sharp bonnet, slimmed flanks and flowing mirror design hint at the fact that  it was designed to be a sports car, and the rear spoiler pays homage to the iconic and jaw-dropping Carrera GT—all this for an SUV.
Although you would never guess it judging from the outside, the Porsche Cayenne is larger than its predecessor. From the inside, your guess would change, as the airy cabin provides ample space, especially for rear seat passengers. The rear seats can be moved forward or dropped to reveal a cavernous 1,336dm3 of load space. The cabin is typical of Porsche, with solid metal pieces and inserts for door handles, seat controls and air vent surrounds. The control panel rises to meet your hand, very much like the Panamera models. As beautiful as the design is, the ergonomics are spot-on with everything simply laid out and easy to use.
What must be stressed with the Porsche Cayenne S and other Porsche models, is the extent to which the owner can tailor the car to suit their taste. This so-called Porsche Exclusive experience allows for the personalization of each car. Most brands provide a list of exterior and interior appointments from which to choose, but Porsche allows you to craft your own unique Cayenne with options not commonly found on brochures. Think embossed seats and armrests in your own name; backlit doorsills or outrageous paint schemes, such as painting the inside lining of the wheels. Imagine it and Porsche will do it. Of course, this exclusivity comes at a cost because vanity has a price tag.
The jewel of the Cayenne S Diesel is the 4.2 liter twin-turbo V8 engine. With a whopping 850Nm and 281kW torque, it is the most powerful diesel engine in its class and is superb. It will outperform and outgun most cars. The time it takes to accelerate from 0-100km/h (5.7 seconds) shouldn’t be relevant in this type of car, but it is because it’s a Porsche after all. It is a beast to drive especially when you have the optional PASM (Porsche Active Suspension Management) system in Sport mode. This electronic damping control system makes the car run like a sports car. It is planted, surefooted and composed, even in the most dire of circumstances. Another option is the Porsche Torque Vectoring (PTV) system that enhances the overall dynamics of the car by varying the torque to the engine and chassis to optimize handling. It’s brilliant when you consider that this is still an SUV that weighs more than two tons.
In Normal mode the car is everything you would expect in the way of comfort and road manners. I found the ride a little harder than the likes of a Mercedes-Benz ML, but not uncomfortably so. The model I test drove was fitted with 20-inch wheels, which would affect the ride to some degree. It’s a car that is as at home in comfortable driving situations as it is when driven with a bit of gusto.
That being said, the off-road capabilities would come into question when considering its sporty dynamics and impeccable road holding. While less than 10% of Porsche Cayenne owners use their cars in serious off-road conditions, that hasn’t stopped Porsche from producing a car that is as capable off the road as it is on.
This car is packed with off-road ability and Porsche has made it as easy to use as all the car’s other features. You can raise the ride height; engage Off-Road mode and Hill Descent Control (HDC) with just a few clicks of the rocker switch on the console. The immense torque will do all the heavy lifting and the system distributes the most power to the wheels with the most traction. I’ve tested all of the Porsche Cayenne models in serious off-road situations and I was genuinely impressed with its prowess.
The Porsche Cayenne S V8 Diesel costs around $96,000 and is good value for money. This particular car is the pick of the entire range but it must also be a consideration across all other SUV brands. It is Porsche South Africa’s best-selling model with more than 110 sold every month.
The car remains true to the traditional sports car enthusiasts but also lures many of the non-traditionalists. It’s flanked by a classy and personal ownership experience and is backed by an impressive piece of engineering.

A Family Car That Packs A Punch

The future of architecture is evolving before my eyes on the laptop of Luca Frattari. In a series of keystrokes the architectural engineering Ph.D., now a business development manager at software firm Altair, thins out the blocky outer shell of a new skyscraper into a willowy exoskeleton that would stand out even among the gaudier designs in the Dubai skyline. Its irregular lattice leaves room for giant, undulating pools of window glass. Yet when he runs a wind-flow analysis on the simulation, the building’s organic form wicks away stiff breezes far more efficiently than a rectilinear structure. And the reduction in outer material gives the building an excellent chance of going up faster and for less money.
More things should look bony. Millions of years of evolution have honed the skeleton into the perfect shape for survival. Our hollow, long bones are thick and strong where needed, and light and flexible where possible. Their excesses were purged long ago.
Adapting nature’s forms to human problems, a trend called biomimicry, is an idea that has taken root at engineering-intensive firms such as Ford, General Motors, Boeing and Airbus, all of them hungry buyers of technology to improve the shapes of the machines and structures they build. The biggest computer-aided engineering software firms, Ansys, Dassault Systèmes and LMS International, a Siemens subsidiary, have enjoyed double-digit revenue growth in recent years as large customers snap up their pricey suites of simulation and material analysis software. Unseen by drivers and frequent fliers, the straight angles and solid forms under the skins of autos and airliners have been replaced over the past several years by funky-looking ribs that are lighter and stronger than the original. For each hundred pounds trimmed off a car, drivers could save about 1% to 2% on fuel economy, which could add up to billions of dollars nationally, according to the U.S. Department of Energy. Even shaving 1 gram off a water bottle would eliminate 160 million pounds of material per year, assuming consumption of 200 million bottles per day, says Thierry Marchal, Ansys’ director of industry marketing for consumer goods.
Altair of Troy, Mich. has a lead over its rivals in a particularly interesting field called topology optimization, according to research firm CIMdata. Altair’s OptiStruct software simulates on metal and carbon-fiber structures the same trial-and-error forces that have shaped bone growth over millennia—but repeats them at semiconductor speed until an engineer arrives at a design that meets the need without any excess material. The process can lead to unique and sometimes nonintuitive shapes that are often 20% to 30% lighter than traditionally formed structures.
The privately held company, cofounded by CEO James Scapa, a Ford veteran, and two others in 1985, got half of its estimated 2012 revenue of $240 million (up 13% from 2011) from the auto industry but is growing 30% year over year in aerospace and electronics, three times the growth of its steady auto business. Airbus used Altair software to shed a thousand pounds off the A380 by redesigning 13 wing ribs on each side of the plane. Altair now works with more than 3,000 clients, including Boeing, Lockheed Martin, NASA and the Department of Defense, but it is rapidly spreading the gospel of evolutionary perfection to a wider audience in consumer products and infrastructure and among commercial architects.
In October Altair released what it says is the first simulation and analysis software designed to be easily used by the engineering masses. Called solidThinking Inspire, it will be bundled into Altair’s flagship software package ($20,000 on average) or sold separately for $8,000. Early adopters of Inspire include auto supplier Key Safety Systems and the Pratt Institute in New York. Architects in the U.S. and Europe are planning high-rises to be unveiled later this year in Asia that will look like descendants of the biomorphic forms created by Antoni Gaudi and Frei Otto.
Altair got its inspiration for bone-based software 20 years ago when Scapa and his chief technology officer, Jim Brancheau, found Jeff Brennan in a lab at the University of Michigan. Brennan was a biomechanical engineer studying how humans bones grow; Scapa brought Brennan in to oversee what would become OptiStruct. Brennan spent the early 1990s schlepping a computer from one carmaker to another, struggling to get analytical engineers to accept his OptiStruct software’s counterintuitive visual results. After OptiStruct became part of Altair’s bigger HyperWorks software suite and no longer needed individual salesmen, Brennan eventually took over as CMO. “We brought Jeff in, and for years and years the competition couldn’t see why we did it—they said there was no market,” Scapa says. “Now they are trying to catch up.”
Altair says it has grown at a 14% compounded annual rate since 2004 but has no plans to go public. It is majority owned by its three founders and last raised money eight years ago selling an undisclosed minority stake to General Atlantic for $30 million. Scapa aims to reach $1 billion in revenue by 2020, a stretch goal that largely depends on how much Inspire broadens the user base.
Even if Altair fails to hit the billion-dollar goal, it will be an aesthetic victory for the rest of us as more buildings, cars, trains and gadgets take on the swooping curves beloved by nature.

The Evolution of Everyday Things

Sam Jonah has broken rocks miles underground and brokered deals over the boardroom table. He’s advised world leaders and discovered a passion for parrots. He is probably one of the few men in the world to be knighted in London nearly 30 years after sweating as a miner in the searing heat, miles beneath the country of his birth.
It all began in 1949, Jonah was born in a military camp in Kibi, Ghana; his father—a sergeant major and World War II veteran, served in the Royal West African Frontier Force. Soon after, Jonah Senior left the army and set up a construction company. The family moved to Obuasi where Jonah went to school. It was after high school that Jonah made the surprising decision to work underground at Ashanti Goldfields Corporation’s (Ashanti) Obuasi mine, the only mine in Ghana. Jonah’s classmates were going into law and medicine, while he was going to work shoulder-to-shoulder with men who had barely gone to school.
“My business was breaking rock,” he says.
Jonah saw that mining was run by whites and wanted to change it. There were tough days underground. Jonah calls it his most humbling experience and with merely a high school certificate and no experience, he had to sink to the bottom of the barrel to learn to survive.
“You learn quickly how to get what you want from people who are better equipped, who are better skilled, who are better experienced, who are much older than you are,” he says.
In his quest for more, Jonah won a scholarship to study mining engineering at the Cambridge School of Mines, in England, which later awarded him an honorary doctorate. He returned to Ashanti and moved up the ranks. Then he returned briefly to London to study business at Imperial College, now the University of London.
It was during these exciting days at Ashanti that tragedy struck. One day, Jonah was underground when the chamber’s ceiling fell in, trapping and killing miners. It was time for quick thinking. Jonah saw a man trapped under rubble who showed signs of life by muttering softly. Under Jonah’s guidance, a team worked to pull the man free and carry him to the lift. The miner, whose legs were crushed, drew Jonah close and thanked him. Four hours later the miner was dead. This was the life Jonah chose as a young man; a life he likens to that of a soldier.
Jonah’s life was moving apace. In 1979, air force officer Jerry Rawlings, then 32, led a coup in Ghana and nominated Jonah, who was the same age, to be Ashanti’s vice president. In 1986, the late Tiny Rowland, the founder of Lonrho, which owned Ashanti, appointed Jonah as managing director. This was at a time when production at the company’s single mine had deteriorated and the industry had yet to see a black man at the helm.
Jonah’s father had once said that the day Ashanti was run by a black man, would be the day he left town. Jonah had the pleasure of telling his father that the day for him to pack his bags had come.
In his new position, Jonah introduced his ‘Africanization Policy’. He wanted to change an industry that was run by whites. He wanted to attract his countrymen to the industry to prosper like he had, by forcing expatriates to fulfill their contractual obligations to impart skills. Moreover, Jonah wanted to cut the expense of expatriates. Why pay a foreigner four times what you would pay a Ghanaian to do the same job?
This policy was unpopular among expatriates but it was all about the big picture in a growing company.
“Glass ceilings were punched through,” says Jonah.
Jonah considers business to be all about people. He feels that it is a leader’s responsibility to identify talent and harness it, to set aside one’s ego and surround oneself with the very best, to make one look good.
“Wisdom does not reside in the head of only one person,” warns Jonah.
Jonah says his parents taught him all he knows about leadership. They encouraged humility, told him that good days are not forever and that he should never give up.
In 1999, Jonah needed all these skills when Ashanti faced a liquidity squeeze. It came at a bad time for the company as it was trying to raise $125 million to build a mine in Tanzania.
The root of the problem was hedging done by the company when the gold price was low. This was viewed as a risk management tool and a price protection mechanism. Unfortunately for Ashanti, a decision taken by global central banks saw a sharp increase in the gold price. The market price was greater than the hedged price and the company did not have enough cash for margin calls because it had pumped a lot of money into new mines. Jonah says this was a bruising time for the company and the most difficult of his career. The company’s share price fell to the point that the New York Stock Exchange was considering delisting it. It took eight months to recover and years to prosper.
Jonah, the driving force behind Ashanti’s growth, sees opportunities where others don’t. In his time, Ashanti grew from a single mine in Ghana to the second largest gold producer in the world.
The company was public until the Ghanaian military government under General Acheampong, took 55% share in 1972—making it a partnership between the government and Lonrho. In the quest for growth, Jonah and his team convinced the partners that better days were ahead if the company went public again. Once Ashanti listed in both Ghana and London, the government held 17% of the company and Lonrho 27%. Between 1994 and 2004, Ashanti went on the acquisition hunt in an attempt to be both an entrepreneurial as well as a conservative company. It extended its operations in Ghana, Australia, Zimbabwe, Guinea and Tanzania. In 1996, Ashanti became the first African-based company to be listed on the New York Stock Exchange.
There is a saying that goes: “No good deed goes unpunished.” As Ashanti grew, the hunter became the hunted. Success attracted the interest of numerous companies.
Jonah felt the choice was to grow from within, or agree to be part of a bigger outfit. It proved difficult trying to convince partners that issuing shares, thus diluting power, was best. The government was faced with a competitive demand for its money, while Lonrho wanted to focus more on platinum. With no other defense, a merger was the only option.
The $1.48 billion merger between Ashanti and AngloGold, then the seventh and second largest gold producers respectively, was far from a merger of equals.
“We were punching beyond our weight,” says Jonah.
Despite this, Ashanti’s management secured key positions within AngloGold Ashanti, with Jonah becoming the executive president of the merged entity.
After his time at AngloGold Ashanti, Jonah became a serial director. Some junior mining companies approached him to guide them to success, as he had done for Ashanti. Equinox Minerals, a mining exploration company based in Zambia, was at the feasibility stage when it approached Jonah. Years later, in 2011, the company that had a market capitalization of $63.1 million in 2006, was sold to the Barrick Gold Corporation for $7.4 billion. Moto Goldmines, in Ghana, grew from a $50 million market capitalization company and was sold to Randgold Resources and AngloGold Ashanti in October 2009.
Since AngloGold Ashanti, Jonah has sat on at least 18 boards of companies.
Jonah currently sits on the boards of a few companies, including Vodafone Plc. He is also the founder and chairman of Jonah Capital, a private investment holding company, based in South Africa, with interests in mineral resources, real estate, agriculture, construction materials, financial services and oil and gas services.
His counsel has extended beyond the business world. When former South African President Thabo Mbeki set up the International Investment Advisory Council in 2000, Jonah was the first and only African to sit on it. He has also been an advisor to Nigerian Presidents Olusegun Obasanjo, his successor Umaru Musa Yar’Adua and Goodluck Jonathan. He was a founding member of Ghanaian President John Kufuor’s investment advisory council and advised the late president of Zambia, Levy Mwanawasa, on investment promotion. Jonah was also on Kofi Annan’s UN Global Compact Advisory Council. Three years ago he helped the president of Togo put together a team that would formulate strategy for the country.
According to his biography, Sam Jonah and the Remaking of Ashanti by Ayowa A. Taylor, Jonah turned down the position of Ghanaian vice president twice.
On June 25, 2003, Jonah received an Honorary Knighthood in recognition of his achievement as an African businessman at St. James’ Palace, in London. Knighthoods conferred to foreign citizens are done so on the advice of the Foreign and Commonwealth Office. They are bestowed on those who have made an important contribution to relations between their country and Britain.
It came from the blue. Jonah took a call from the British high commissioner in Ghana who, after making sure that he had sat down, told him that he had received a call from the British prime minister’s office informing him that Jonah’s name had been put forward for a knighthood. The high commissioner asked Jonah if he would accept the honor, should the Queen approve. The final word came two weeks later, while Jonah was in Guinea. Since Russian President Vladimir Putin was on a state visit on the day of the ceremony, the knighthood was conferred by Prince Charles.
In 2006, Jonah received the Order of the Star of Ghana, the nation’s highest award, and the Commonwealth Business Council Lifetime Achievement Award in 2010.
More recently, Jonah has been appointed—along with 12 other internationally recognized business, academic and public policy leaders—to sit on the newly formed Bank of America Global Advisory Council.
A lifetime away from his days of breaking rock underground, Jonah says: “I saw no barriers. I was determined to get to the highest [level] in anything that I did.”
This sentiment is echoed in his biography where Taylor writes: “Jonah was determined to build a ‘First’ World company, to dispel the unspoken belief that coming from the ‘Third’ World implied that he would be a third-rate businessman.”
Jonah acknowledges the big part that mentorship played in his success and feels that it is important that those that have found success pass down their knowledge and not have the arrogance to think that they did it all on their own. Jonah has, through the years, been approached by those seeking guidance and says that there is nothing more fulfilling.
“You must be humble enough to know what you know and to appreciate what skills you don’t have, and to have a plan.”
Jonah says it’s sad that young people are no longer as keen to serve apprenticeships.
It hasn’t all been smooth sailing for Jonah. In 2008, a conflict of interest arose when Jonah became a non-executive director at Metropolitan Holdings Ltd while on the board of the Standard Bank Group’s Liberty Life. He stepped down after holding the position for a month. Jonah refers to this as the shortest directorship in South Africa and says he failed to see the conflict from the onset as Liberty Life had a separate board to Standard Bank.
Also making it into the news that year were claims of insider trading and the resignation of senior staff in a company chaired by Jonah. Sentula Mining was accused of misdeeds worth R242 million ($29.7 million).
Jonah says he was approached by the family with the controlling interest in a company called Scharrighuisen to become the chairman and shareholder, buying in on concessionary terms, at around R2 ($0.25) a share. Jonah went to distressed shareholders, and some potential ones, and sold them his vision to rebrand Scharrighuisen as a new mining services company to be called Sentula Mining. Jonah Capital and Coronation Capital were the two largest shareholders when they sold some of their shares, at around R21 ($2.60). The combined sales were reported to amount to R680 million ($85.4 million). The share price subsequently fell to around R1 ($0.12) before recovering slightly.
The parties were thought to have had knowledge that the market did not. The Financial Services Board opened up an investigation into the possible insider trading and trading was suspended for a few months. During this time Jonah resigned as chairman of the company but maintains that there was no wrong doing and that they were cleared.
With his focus on the many possibilities the future holds Jonah’s Iron Mineral Beneficiation Services (IMBS) is using industry changing technology for processing super scrap, metallic iron, from the waste dump at Phalaborwa Mining Company, in South Africa’s Limpopo Province. The super scrap replaces traditional scrap in steel making.
Jonah says that when he told Lakshmi Mittal, of ArcelorMittal—the world’s largest steel making company—the chairman and CEO asked: “Sam, what do you mean? I have 77 PhDs in Chicago and New York looking for this technology, and you’re telling me that two South Africans have found the technology?”
Jonah is proud of the fact that while big companies around the world were writing off lots of money in search of this technology, two South Africans beat them to it. Jonah Capital has the largest stake in the company, with South Africa’s Industrial Development Corporation (IDC) and Russian company, OAO Severstal, as partners. The R120 million ($15 million) pilot plant will be up and running by May.
Despite all this success Jonah maintains that he is not a wealthy man and that he is merely comfortable. He has been reported, by African journalists and bloggers, as having a net worth of between $500 and $600 million and has been celebrated as the richest man in Ghana. His worth remains a mystery but Jonah says that he is appalled by the speculation, adding that his father would be upset by people saying such things about him.
“We were not brought up that way,” says Jonah.
Evidence of this is the inscription by Jonah’s father placed on the house he built for his family in 1950. It read: Wobisa wo din enye wo sika, which translates to: They ask about your name, not your money.
“I’d like to be defined more by what I have done, than what I have…” he says.
Jonah says that having earned a monthly salary from the age of 19 until his retirement from AngloGold Ashanti, at 58, and sitting on boards and owning shares, means that he has done well for himself but he denies being the richest man in Ghana.
Jonah may not be pleased by some of the reporting about him, but what pleases him is the way business is going on the continent.
“Africa is all about entrepreneurship,” he says.
Jonah feels that people are now being given the space to grow, that businessmen like Aliko Dangote, Mike Adenuga and Patrice Motsepe, are world-class.
Jonah is also adamant that the world’s attitude towards Africa has changed. He feels that Africa’s potential is now being appreciated and harnessed, which, he says, is coming on the back of political and social change.
The world’s eyes and markets were on South Africa when the Lonmin mine workers’ strike in Marikana turned violent. As the longest serving director of Lonrho, Jonah doesn’t want to weigh in too heavily on the matter but points out that there are philosophical differences in the style of management and his own, influenced by his time underground.
“I came to appreciate the roles of these people [miners], how backbreaking the job was, how hardworking they were, how committed they were,” says Jonah.
He believes there will always be a future in mining as long as there’s a demand but that miners’ living conditions are shocking and that South Africa needs to focus more on the social aspect of the business.
Jonah has enough thoughts to fill a book but jokes about not being literate enough to write it.
Jonah does, however, have a more relaxed side. The jet-setting entrepreneur enjoys fishing. His eyes light up as he talks about it. He took up golf once again, four years ago. It brought back memories of a battle around the golf course nearly 40 years earlier. Jonah challenged the exclusively white Obuasi Golf Club, where he was not welcome. He was determined to learn the game and when none of the other members would teach him he went to the caddies. After 10 lessons, no-one wanted to play with him. Jonah used to go early to the golf course and play slowly, deliberately, to irk the white golfers backed up behind him. It worked and eventually the invitations to play grudgingly arrived. On the other side of the coin, some of his fellow Ghanaians couldn’t see the victory and sneered that Jonah now thought he was white.
It is no surprise that decades later his children tease him about becoming obsessive about his hobbies. When Jonah discovered squash, playing twice a day was not enough so he built a court at his home. When he took to the gym, he was there every morning at 5AM and then built himself one.
You could have guessed that buying a parrot in Guinea would lead to an aviary being built back home. It is now filled with a collection of parrots from South Africa, Ghana and Brazil.
An avid reader and big fan of Rudyard Kipling, Jonah recommends the poem If.
In a speech to inspire leadership Jonah closed with an extract from Henry Wadsworth Longfellow’s A Psalm of Life: “Lives of great men remind us that we can make our own lives sublime and departing we can leave our footprints in the sands of time.”
At the very least, Jonah proves that if you can keep your head while others are losing theirs and blaming it on you… you can be a man, my son.

THE MAN  WITH THE  GOLDEN TOUCH

<h3>ALIKO DANGOTE</h3>
<div id="attachment_224" style="width: 210px" class="wp-caption alignleft"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-224" class="size-medium wp-image-224" src="/wp-content/uploads/2017/04/DSC_7510-200x300.jpg" alt="" width="200" height="300" />Aliko Dangote</div>
<h3>Founder and president of Dangote Group</h3>
As Africa’s richest man and business warrior, Aliko Dangote traverses the world leaving little time for interviews. He recently brought himself a $45 million Bombardier jet to save time. In May, Dangote was in China to sign a deal with Sinoma International Engineering Company. This deal means 10 new cement plants across the African continent, at an estimated cost of $3.9 billion, in just over three years’ time.
In this rare encounter, at the Transcor Hilton in the Nigerian capital, Abuja, he appeared relaxed, passionate about Africa, as well as pleased to be nominated as a Person of the Year by FORBES AFRICA.
“I feel great about it. I consider the recognition an honour and appreciation of what we are trying to do in the private sector. One thing people usually don’t understand is that what the Dangote Group is trying to achieve is something that our political leaders have failed to achieve in terms of reaching Africa economically. We are now in 14 African countries and wherever there’s an opportunity on the continent, we are very keen to explore it,” he says.
These are busy times for the Dangote Group, next year it plans to move into petrochemicals.
“It’s really a green area in Nigeria but we believe it’s an opportunity provided by the country’s endowment of gas,” he says.
“In our cement business, we are expanding massively on the continent, looking to raise our annual production capacity on the continent to about 60 million metric tons. Our target is to be number one in terms of profitability. In terms of agriculture, we have a sugar refinery where we process imported raw sugar, but we are looking at backward integration that will lead to the employment of 50,000 Nigerians. Going forward, from 2012 to 2015 we intend to invest $7 billion in Africa.”
It is the fruit of decades of risk taking that began with his cement plant back in Obajana, in Kogi State, 220km south west of where we are sitting. Dangote took the risk and invested in a five million tons plant – at a time when the entire Nigerian production was a mere 1.2 million tons.
“We saw the growth potential of the market and took the risk betting that the more we produce, the more the demand. I recall that my late friend and former CEO of Guarentee Trust Bank, Tayo Aderinokun, said that I was taking a big risk, but I believed that it will pay off. Today, Dangote Cement alone has a production capacity of 20 million tons and the rest of the market has eight million tons and we are starting another project to add a fresh 9 million tons in the next 60 days,” he says.
The impact of the Dangote Group has also been felt in the Lagos Stock Market. Last October, the group listed on an exchange erstwhile dominated by the banks. Dangote Cement is now one of the largest capitalized companies on the bourse, accounting for a quarter of the stock market.
Dangote believes passionately this is the time for Africa.
“I personally think there will be another recession because Europe will not be able to handle Greece and Italy at the same time. But Africa has the advantage of high growth rates on low debt. It’s the reverse in Europe. As a result, I think it’s only a matter of time for more investors to shift focus to Africa, which is more profitable. Money has no color and so investors will be attracted more to this continent because of its potential. If Lafarge of Blue Circle were more aggressive about investing in Africa in the past, Dangote would not have grown to this level because they could have blocked that opportunity with the cash and scale they have. Today, our Nigerian operation alone is a $14 billion business that we never dreamt would happen,” he says.
Dangote inspires many entrepreneurs in Africa, we ask whether there are many other investors like him in the continent.
“There are people that have cash but not heart and guts. They know the potential, but think of the headaches. But the truth is that nothing is easy in life. I think there can be even bigger companies than Dangote. It’s all about guts. Ten years ago, it was difficult to imagine our company achieving a valuation of $1 billion… I never in my wildest dreams at the beginning thought I would achieve 1% of what we’ve achieved. Nothing is impossible,” he says.
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Tag: Engineering

FORBES AFRICA SOCIAL MEDIA

A Family Car That Packs A Punch

The Evolution of Everyday Things

THE MAN WITH THE GOLDEN TOUCH

If you want to be rich in Africa the time is now