Friday, April 02, 2010

Carlos Slim...can Dangote make Africa proud!

Carlos slim...the 1st billionaire from a developing country to top the chart of "the big havers". To many, it seemed like an "Obama" dream...a long preached dream that unbelievably materialised. Of course Carlos Slim Hule (#1), is not the only one from a developing world that made the list. There's Aliko Dangote (#463) from my motherland...a guy i admire his "balls", don't get me wrong I'm not into men! lol. A guy who dominantly emerged in the Nigerian economy but took the economy by suprise. He started out with a countable product line but it now seems he won't stop at a thing to take over the about 20 Billion dollar economy.

I have a feeling he can conquer the Forbes List, but only if he sits up and stop spreading his resources over too many sectors in the Nigerian economy, not in this fast changing world. I've always believed he'll be the first Nigerian launch a global brand but I don't share this view anymore because of his recently acquired desire to go after already established and highly competitive sectors like the food sector (noodles). Going into this multibillion naira sector is not the problem but he's mode of entry; setting up a competition instead of mopping up competitions. His mode of entry should have been buying up the market movers in the sector not settling for Consumers' empathy

I really hope someday, he'll wake up to find out that focusing and expanding he's current cashcows into other lucratuve frontiers in Africa and beyond is the way forward. Even Sir Richard Brandson didn't just diversify the Virgin Group with UK and the US, most Virgin Brands are global. Aliko Dangote can get there only if there's focus and expansion within and outside Nigeria. A word is enough for the wise!