Africa's wealthy donate millions to charity

PHOTO_Aliko Dangote_25072014

President of Dangote Group Aliko Dangote on October 25, 2010 in Johannesburg, South Africa.

Lagos - Africa&39;s richest man, Aliko Dangote, on Friday said giving to charities across Africa is high on his radar.

But just where is Dangote donating his money?

  • $6-million (R632-million) to the Dangote Academy which aims to develop human capital across various sectors
  • $6-million on the rehabilitation of some Nigerian Universities, as a contribution to education
  • $15.4-million to cushion the effects of flooding in Nigeria, 2 years ago
  • $2.8-million also given to flood victims, unemployed youths and women in Kogi state
  • and $3.3-million to vulnerable women as a result of insurgency in the North East of Nigeria.

Experts say this has yielded good results for the Dangote Group, with Dangote Cement enjoying a 39% profit rise in 2013, an increase of 8.5% in the first quarter of 2014.

Dangote however is not the only billionaire giving to charities across Africa.

South Africa&39;s Allan Gray gave $150-million US dollars to his Allan Gray Foundation, which gives high school scholarships and supports other causes.

In 2013, mining Tycoon, Patrice Motsepe pledged half of his $2.7-billion wealth to his foundation.

Sudanese Telecoms leader Mo Ibrahim, has a foundation focusing on promoting good governance in Africa with a yearly prize of $5 million.

As Africa tries to move away from being dependent on aid, analysts say it&39;s good that the continents wealthy are contributing to alleviating economic and social ills by sharing their wealth.