Africa's richest man, Aliko Dangote denounce owing houses outside Nigeria.
Dangote disclosed this in a recent interview with Business Insider and posted on the Tonyelumelu foundation.
The owner of Dangote franchise while refuting owning houses abroad said that some of his staff own vocation houses abroad.
He 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.”
According to Dangote, acquiring luxury can be a distraction.
The owner of Africa's largest oil refinery took his number spot as Africa richest man in late June.
He achieved the feat on July 30 after adding $20.7 million to his wealth through industrial sector investment.