The World Bank has appointed Aliko Dangote, president and chief executive officer (CEO) of Dangote Group, to Private Sector Investment Lab.
With the appointment, Dangote in now among a select group of global business leaders tasked with driving investment and job creation in emerging economies.
Other members of the group are Bill Anderson, CEO of Bayer AG; Sunil Bharti Mittal, chair of Bharti Enterprises; and Mark Hoplamazian, president and CEO of Hyatt Hotels Corporation.
In an announcement, the World Bank said Dangote’s appointment is part of a broader expansion of the investment lab, which is entering a new phase focused on scaling up solutions to attract private capital and create jobs across developing countries.
Dangote, in a statement confirming his acceptance, said he was honoured and excited.
He reiterated his dedication to promoting sustainable economic development through private sector-driven investment, noting the transformative potential of such initiatives in developing markets.
He said the opportunity aligns with my long-standing commitment to sustainable development and unlocking the potential of developing economies
“Drawing inspiration from the remarkable successes of the Asian Tigers, which have demonstrated the power of strategic investment and focused economic policy, I am eager to collaborate with fellow leaders to replicate such outcomes across other regions.”
The World Bank said the expanded membership brings together business leaders with proven track records in generating employment in developing economies, supporting the bank’s sharpened focus on job creation as a central pillar of global development.
President of the World Bank Group, Ajay Banga, said the expanded membership is helping to integrate the initiative across its operations and align it more closely with its core strategy centred on job creation.
“This isn’t about altruism—it’s about helping the private sector see a path to investments that will deliver returns, and lift people and economies alike. It’s central to our mandate,” Banga said.
The World Bank said in 2023, Mark Carney, the prime minister of Canada, co-chaired the Investment Lab, which aimed to attract £1 trillion in sustainable investments to drive the energy transition in emerging markets.
It added that over the past 18 months, the lab convened leaders from major global financial institutions to identify key obstacles to private sector investment in developing nations and explore practical solutions.
According to the statement, the outcomes of the work have been streamlined into five priority areas, including regulatory and policy stability, which are being integrated across the bank’s operations.
At its foundation stage, the lab had members including senior executives from AXA, BlackRock, HSBC, Macquarie, Mitsubishi UFJ Financial Group, Ninety One, Ping An Group, Royal Philips, Standard Bank, Standard Chartered, Sustainable Energy for All, Tata Sons, Temasek, and Three Cairns Group, and is chaired by Shriti Vadera, chair of Prudential plc.
