The business mogul said this at the 2019 Mo Ibrahim Forum. Dangote hinted that he avoids luxury things “because they distract and take time”.
Dangote said: “I don’t have any holiday home anywhere. I don’t have a house anywhere but I know people who are working for me…they have houses in London.”
“But you see, a lot of people, even the younger ones, we need to be very careful because one of biggest issues with us as Africans is that we spend our projected incomes.
“Once you start doing business [and] it starts doing well, but rather than for you to invest more in the business, you start spending thinking that profit will continue to come.
“There are ups and downs in business so you need to be very focused.”
Asked of his opinion on areas young entrepreneurs should invest in, Dangote replied: “The sectors to focus on now are ICT and agriculture. These are the 2 promising sectors.”
Checkout Dangote’s N5 Billion ($30Million) Abuja Mansion
This is said to be the $30m home of Africa’s richest man’s home, Dangote..According to Africa Cradle who were given access to,the mansion situated in Abuja is Mr. Dangote has called this place home for a good twelve years.
On his living room, he said
Television is an invention that permits you to be entertained in your living room by people you wouldn’t have in your home.” I love watching television. I watch a lot of business channels, such as Bloomberg TV, which is my favourite and many others. I look forward to the day when AFRICA will have quality media, which gives us good entertainment, and insightful information into African business trends and those from other parts of the world as well. But yeah, welcome, this is my living room.
And this is where the wealthiest man in Africa sleeps.
“I feel bed to show you where I sleep, you know,” he said, showing us into the bedroom. “But here is where I sleep. My wife and I try the best we can to keep this place as serene and quite as possible.”
“To tell you the truth, I spend less time here than I do in my office and elsewhere where I can work. I do value relaxation and unwinding, and I have read a lot of news articles and research studies that recommend eight to ten hours of sleep.”
“But why should one sleep so much? To relax? Don’t get me wrong, relaxing is good, but if you love to sleep, poverty will be your portion. Well, this is my bedroom, let’s move on.”
This is Aliko Dangote’s home office, where he does all the business if he is away from his office. “Whether you work from home fulltime or a few hours a week, setting up your home office properly is important for your comfort and productivity,” he said.
“I have hosted a number of very important people here, including Bill Gates, President Goodluck Jonathan, and many others I am not inclined to mention. ”
“They say that the kitchen is the heart of the home. It is where the meals are created – it fuels the bodies, minds and souls of friends and families all over the world. Some say that while life may be created in the bedroom, it is certainly lived in the kitchen, ” Aliko Dangote said.
This is where Mr. Dangote hosts most of his meetings with business associates and government officials.