Aliko Dangote, the Founder, Chairman, and CEO of the Dangote Group, has made a surprising revelation that he does not own overseas vacation homes, unlike several of his employees.
In an interview with Business Insider Africa, published on the verified Instagram account of the Tonyelumelufoundation, Dangote emphasized the importance of avoiding indulgence in extravagant possessions, as it can distract from one's focus.
Citing his own case, Dangote stated, "Extravagant possessions can also consume your time, preventing you from concentrating on your business. Personally, I do not own a holiday home anywhere or a house for that matter. Nevertheless, I am aware that some of my employees possess residences in London, unlike myself."
The renowned business tycoon highlighted that one of the major obstacles to business growth in Africa, particularly among the youth, is the tendency to spend anticipated earnings prematurely.
Dangote expressed, "Once your business begins to prosper, rather than reinvesting in it, you may be inclined to spend money and assume that profits will continue to pour in."
"However, business ventures experience ups and downs, so it is crucial to maintain unwavering focus."
