People working for me have houses abroad but I don’t – Dangote

Aliko Dangote, the billionaire entrepreneur, recently disclosed that while some of his employees possess houses abroad that they use as vacation homes, he does not own any such property.

In an interview with Business Insider Africa, Dangote emphasized the importance for young individuals to divert their attention from extravagant possessions and concentrate on fostering the growth of their businesses.

He advised that instead of indulging in personal spending once a business begins to prosper, it is wiser to reinvest in the business itself. He emphasized the need for unwavering focus and a strategic approach to sustain long-term success amidst the inevitable fluctuations experienced in the business world.

He said; “A lot of people even the younger ones, we need to be very careful because one of the biggest issues. With us Africans, it is that we spend our projected incomes.

“Once you start doing business and the business starts doing well, rather than for you to keep investing into the business, you start spending money and thinking that the profit will continue to come. There are ups and downs in business so you need to be very focused and say ‘Okay fine what do you do and how to do those things.

“Luxury things, they also take up your time which will not make you focus on your business. I mean, 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 a house in London. But I don’t.”