People, economy-centric approach to business is fact behind Dangote success story, Alake

June 25th, 2019

By John Silas and Cyriacus Nnaji

Group Managing Director of Dangote Industries Limited, Mr. Olakunle Alake, has stated that people and economy-centric approach to business is reason for the great successes of the business conglomerate.

”Our people and economy-centric approach to business has no doubt been the fact behind the great success that the Dangote business story has become, and the anchor on which our continued growth, expansion and longevity is anchored,” Alake disclosed.

Alake’s Goodwill Message was shared to the media on the occasion of the ’Facts Behind Dangote Cement’s 2018 Sustainability Report’ on the floor of the Nigerian Stock Exchange recently.

He said that the launch of the NSE Sustainability Disclosure Guidelines in 2018 has provided a lever on which quoted companies could anchor the drive towards business longevity, competitiveness and continued growth.

“Indeed, there could be no more appropriate businesses to lead the sustainable development journey than businesses that are publicly owned and listed. If all listed companies in Nigeria could champion this noble course, the multiplier effect on the Nigerian and wider African economy would be enormous, to say the least,” Alake stressed.

The GMD said the renewed call for businesses to develop a culture of sustainability, which simply means adopting global best practices in economic, social and environmental impact management, as well as in corporate governance comes at a time when more businesses are failing in developing economies, owing especially to hostile operating environment and poor sustainability and governance practices.

Alake stated that as a responsible leader in corporate Nigeria, Dangote Group has in the last couple of years intensified its sustainability journey.

“To ensure that the concept is acculturated and integrated into all aspects of our businesses, we developed our unique 7-Sustainability’ Pillar approach, covering institutional, operational, environmental, financial, economic, social and cultural sustainability. By adopting this approach, we are ensuring that all business functions at Dangote Group own and embrace sustainability and make these global principles the way we do our business,” Alake said.

He added that the global call for businesses and institutions to be run more responsibly to enhance their positive impact and reduce negative externalities, is beneficial to businesses, their stakeholders, the society and the larger economy.

“At Dangote Group, the vision of the business from the outset is to create value for all stakeholders and positively impact and transform the economies where we operate. This is what we call “The Dangote Way”. If our experiences in the last three decades are anything to go by, we can say with utmost confidence that this sustainable business model has been a win-win. Our people and economy-centric approach to business has no doubt been the fact behind the great success that the Dangote business story has become, and the anchor on which our continued growth, expansion and longevity is anchored.”

Thanking the NSE Alake said, “On behalf of our President/CEO, Alhaji Aliko Dangote, the Board, executive management, all employees, shareholders and stakeholders of the Dangote Group, we thank the Nigerian Stock Exchange for the privilege offered Dangote Cement PLC to be the first listed company to officially unveil the ’facts behind our sustainability report‘. We remain committed to leading the way in the implementation of the new Sustainability Disclosure Guidelines of the NSE,” Alake stated.

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