Prime Business AfricaAliko Dangote, the founder of Dangote Sugar and Africa’s richest person, has seen the value of his investment in the sugar producer increase by 72.15 percent due to the company’s shares being one of the most sought-after year-to-date.
According to analysis by Prime Business Africa, Dangote Sugar’s share price in the Nigerian stock market has jumped N23.45 kobo so far this year, amid high interest among equity traders in the company’s assets.
Join our WhatsApp ChannelAs a result, the shares of Dangote Sugar sold for N55.95 kobo per share as of August 15, compared to the N32.50 kobo a share traded for at the start of the year.
The 72.15 percent appreciation recorded by the share price has handed the billionaire a whopping N205.78 billion within eight months, which is almost the amount his shares were valued at as of January 2.
Prime Business Africa’s analysis showed that Dangote has a total shareholding of 8.77 billion in the sugar business, split into direct shares of 653.09 million and indirect shares of 8.12 billion, held through Dangote Industries Limited.
The 8.77 billion shares, which represent a 72.25 percent controlling stake, were valued at N285,20 billion at the beginning of the first quarter, however, as of August 15, their worth has increased to N490.99 billion.
According to analysis, the N205.78 billion gain recorded by Dangote represents 72.25 percent of the N284.84 billion combined gain recorded by all the shareholders of Dangote Sugar during the period under review.
This indicates other shareholders, aside from the billionaire, recorded a combined gain of N79.05 billion during the same period the sugar mogul made N205.78 billion.
Furthermore, the market valuation of Dangote Sugar surged, appreciating from N394.77 billion recorded on January 2 to N679,61 billion on August 15.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
