18/09/2026
Everyone is talking about the value of Dangote's refinery today.
I'm thinking about the 13 years before today.
In 2013, the refinery was still an idea.
Today, it is valued at close to $50 billion and is at the centre of what is being described as Africa's largest-ever IPO.
A few weeks ago at the Wealth Conclave in London, I spoke about something we often forget when looking at investments.
Return is only one part of the story.
I shared five things I believe you should consider:
Cash flow.
Capital appreciation.
Liquidity.
Risk.
Time horizon.
That last one matters.
Some investments produce income quickly.
Some grow gradually.
And some require you to commit capital today for a return you may not see for years.
The Dangote refinery journey is an extreme example, but the principle is useful.
Good investing isn't simply about asking, “How much can I make?”
You also need to ask:
“How long can I afford to wait?”
Because an investment can have great potential and still be the wrong investment for you if its time horizon doesn't match yours.
Perhaps that's one reason we shouldn't look at today's valuation without also looking at the years it took to get here.
And if conversations like this interest you, we’ll be having more of them at the Taysey Executive Leadership Bootcamp in Doha, Qatar next year.
Six days of learning, new perspectives, meaningful connections and time away from the usual environment to think differently about leadership, growth and wealth.