Africa’s richest man, Aliko Dangote suffered a huge loss due to coronavirus on Wednesday March 11, as he lost N240 billion in five hours.
Dangote’s firms under the parent-company ‘Dangote Group’, suffered huge losses just after the World Health Organisation (WHO) declared coronavirus a pandemic (spreading in multiple countries around the world at the same time).
The Nation reported that Dangote Cement Plc which is Nigeria’s most capitalised quoted company and accounts for more than 20 per cent of the total market capitalisation, led the decline with the maximum daily allowable drop of 10 per cent or N17, which is equivalent to net depreciation of N289.68 billion.
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