Business was booming — there was a cement shortage — but instead of investing the money in the business, he gave it back.
“I was scared, as a small entrepreneur, to lose his money. So I returned it back to him,” Dangote said.
Dangote didn’t know it then, but he would have been a safe bet for the loan.
After decades of building up his cement business and expanding into sugar, flour, oil, and other commodities, Dangote today is worth $18.6 billion, making him Africa’s wealthiest man and among the world’s richest.