WASHINGTON, USA – Aliko Dangote, president and CEO of Dangote Group, has been appointed to the World Bank’s prestigious Private Sector Investment Lab, a move that solidifies his position among a select group of global business leaders tasked with promoting investment and job creation in emerging economies.
The World Bank announced Dangote’s appointment on Wednesday, April 23, 2025, as part of a broader expansion of the investment lab.
This marks a new phase for the initiative, which aims to scale up efforts to attract private capital and generate sustainable jobs across developing countries.
Alongside Dangote, the World Bank has welcomed other notable figures into the investment lab, including Bill Anderson, CEO of Bayer AG; Sunil Bharti Mittal, chair of Bharti Enterprises; and Mark Hoplamazian, president and CEO of Hyatt Hotels Corporation.
The lab’s expanded membership brings together a diverse group of leaders with proven expertise in creating jobs and driving economic growth.
Confirming his acceptance of the appointment, Dangote expressed his excitement about contributing to the World Bank’s mission to foster sustainable economic development through private-sector investments.
He highlighted the transformative potential of such initiatives in accelerating growth within developing economies.
“I am both honoured and excited to accept my appointment to the World Bank’s Private Sector Investment Lab, dedicated to advancing investment and employment in emerging economies,” Dangote said.
“This opportunity aligns with my long-standing commitment to sustainable development and unlocking the potential of developing economies.”
Drawing inspiration from the success stories of the “Asian Tigers” – economies that have leveraged strategic investment and focused economic policies – Dangote expressed his eagerness to collaborate with fellow leaders to replicate similar outcomes in other regions.
He stated, “I am eager to collaborate with fellow leaders to replicate such outcomes across other regions.”
The World Bank’s announcement underscores its renewed commitment to job creation as a central pillar of global development.
Ajay Banga, president of the World Bank Group, noted that the expanded membership is critical in integrating the initiative’s efforts more closely with the bank’s core strategy.
“This isn’t about altruism—it’s about helping the private sector see a path to investments that will deliver returns and lift people and economies alike,” Banga remarked.
“It’s central to our mandate.”
In 2023, the investment lab, co-chaired by Mark Carney, Canada’s prime minister, focused on attracting £1 trillion in sustainable investments to drive the energy transition in emerging markets.
Over the past 18 months, the lab convened leaders from major global financial institutions to identify key obstacles to private sector investment in developing nations and explore practical solutions.
The outcomes of the work have been streamlined into five priority areas, including regulatory and policy stability, which are being integrated across the bank’s operations.
The World Bank’s Private Sector Investment Lab was founded by senior executives from top institutions such as AXA, BlackRock, HSBC, Macquarie, Mitsubishi UFJ Financial Group, and others.
It is chaired by Shriti Vadera, chair of Prudential plc.
