Africa's richest man plans to establish a family office in Dubai

Aliko Dangote, Africa's richest person, plans to establish a family office in Dubai to diversify his global investments. With a fortune of $13.2 billion, primarily from Dangote Cement, Dangote aims to expand beyond industrials by seeking co-investment opportunities with firms offering specialized expertise. His daughter, Halima, will manage the Dubai office.

This move is driven by the depreciation of Nigeria's naira and Dubai’s favorable tax regime, security, and strategic location, making it a hub for ultra-wealthy individuals.

Dubai’s financial center has seen a 53% rise in family offices, attracting global wealth.