Dangote says he did this just to get it into his head that this was real money, not just figures on paper.
Nigerian billionaire Aliko Dangote, known as Africa's richest man, told a forum in the Ivory Coast on Saturday how he once took $10 million in cash out of the bank just to look at it and get it into his head that this was real money, not just figures on paper.
"When you're young your first million is important, but after, the numbers don't mean much," Dangote, a manufacturing tycoon with a range of companies spanning cement to flour, told the Mo Ibrahim forum in Abidjan.
"One day, I cashed 10 million, put them in the boot of my car I put it in my room. I looked at them and thought 'now I believe I have money' and took it back to the bank the next day," he told his audience.
Anecdotes aside, Dangote said that the two most promising sectors for Africa's future were agriculture and new technologies. But he advised young African entrepreneurs not to get carried away by the first flush of success.
"Often in Africa we spend our projected incomes. There are ups and downs" in business, he warned.
Dangote said he regretted the customs and administrative problems that hamper business development throughout the continent.
As an example he cited the difficulties his cement group faces in exporting to Benin from Nigerian factories 40 kilometres (25 miles) from the border. Benin imported "more expensive" cement from China instead.
The goal is to raise $5 billion for efforts that include helping to guarantee loans, training women on financial matters and eliminating laws and regulations that make accessing credit more difficult.
A Ghana-based start-up has received $1.5 million from Ebay billionaire Jeff Skoll to support its work in changing Africa's pharmaceutical industry to make medicines more affordable.
Dubai Chamber of Commerce and Industry, Dubai Chamber, has announced its plans to host the fifth edition of the Global Business Forum, GBF, on Africa on 18th - 19th November, 2019, in Dubai.
Video from WFBO showed a Buffalo police officer appearing to push a 75-year-old man who walked up to police clearing Niagara Square around the 8 p.m. curfew Thursday.
The UAE was able to supply the material because of its internationally-recognised success in curbing the spread of COVID-19.
Prime Minister Narendra Modi's government is dismantling its vast lockdown of the 1.3 billion population imposed in March.