Alhaji Aliko Dangote, Africa’s richest man, has made yet another move to buy off Arsenal Football Club.
Dangote however stated that while he wants to buy Arsenal as soon as possible, he must wait for the Nigerian currency to stabilize.
“Maybe three to four years. The issue is that we have more challenging headwinds.
“I need to get those out the way first and start having tailwinds. Then I’ll focus on this.
“It’s not about buying Arsenal and just continuing with business as usual.
“It’s about buying Arsenal and turning it around. I’ve run a very successful business and I think I can also run a very successful team.
“Right now, with what we’re facing, over $20 billion of projects, I cannot do both.”
Dangote seem to be bidding time owing to the current economic crisis. Stock on his Cement company nose-dived by 4.7% last year.
Dangote’s Cement companies is Africa’s largest cement producer. The company has plants in Cameroon, Ethiopia, Zambia, Tanzania and Nigeria.
Dangote Cement produces 30million metric tons annually of cement and plans to double that by 2018.
Dangote Group, which is active in 15 African countries, include publicly-traded salt, sugar and flour manufacturing companies.
The net effect resulted in the business mogul losing over $5 billion dollars in net worth. No thanks to dwindling naira value.
The plan to buy Arsenal FC may come as a welcome news to Arsenal fans, who have openly expressed their displeasure of current owner, Stan Kroenke, tactics.
Their major anger the drought in trophies for years on the go. They have only won two FA Cups since 2004.
This have disgruntled many Arsenal Fans as they blame their misfortunes on both Kroenke and Arsene Wenger.
Dangote is a self-confessed Arsenal fan.
Dangote is now said to be worth $10.5 billion in September 2016 according to Bloomberg.