Aliko Dangote said he will open an office in New York, United States, to help diversify his investments and avoid the risk of currency fluctuations in Nigeria. “In Africa, you know we have issues of devaluation, so we want to really preserve some of the family’s wealth,” Dangote told Bloomberg TV’s David Rubenstein Show. Africa’s richest and 95th richest person in the world, Dangote already operates an office in London. Although, he has five publicly-listed companies, it is still unsure which he would be opening a branch for in the United States. The refinery, first announced back in 2013, would produce 400,000 barrels of petrol a day — compared with the 100,000 currently produced.

Source: The Guardian January 09, 2020 10:41 UTC