Africa’s richest man has revealed that while some of his staff have houses abroad which they use as holiday homes, he has none. The business mogul further gave some tips in order to succeed as a person in the business space.
In an interview conducted by Business Insider Africa and published recently on the Tonyelumelufoundation’s verified Instagram account, Dangote 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.”
The businessman further advised that acquiring luxurious things could be a distraction. Citing himself as an example, Dangote stated, “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.”