Following the endowment of the Dangote Foundation to the tune of $1.25billion by the founder/president of Dangote Group, Aliko Dangote, the foundation has unveiled new logo and name, which is now called Aliko Dangote Foundation. The endowment is for the period of 10 years.
The foundation, which was previously focused on projects such as construction of boreholes and Kano feeding programme, has defined its new strategic focus to include health, education, economic empowerment and disaster relief.
According to the MD/CEO, Aliko Dangote Foundation, Ms Zouera Youssoufou, the $1.25billion endowment has made the foundation the biggest foundation in sub-Saharan Africa.
The foundation, which was largely depended on funds from Dangote Cement, Dangote Sugar, corporate social responsibility initiatives from the group and the founder’s goodwill at a time, will now run its operation independently.
Youssoufou said, “the actual change happened in 2014, when we went from an organisation which sometimes will be funded by cement, sugar and CSR projects from the group and sometimes, the one Aliko wants to do by himself.”
“To move away from companies within the group to fund the operation of the foundation, we wanted to really focuse on the project Aliko wants to do that is actually separate from his philanthropy from these organisations’ CSR.
“In 2014, Aliko Dangote endowed the Foundation with the equivalent of $1.25billon – making Dangote Foundation the largest private Foundation in sub-Saharan Africa,” she said.