Nigeria, May 15 -- Africa's richest man, Aliko Dangote, has revealed why he abandoned the idea of owning luxury homes abroad.

The 69-year-old billionaire made this explanation during a recent podcast with Nicolai Tangen, chief executive officer of Norges Bank Investment Management.

Speaking about his discipline, Mr Dangote said that hotels offer a simpler lifestyle, allowing him to focus entirely on business growth rather than maintaining expensive foreign properties.

The President of the Dangote Group disclosed that he sold his high-end properties in the United States and the United Kingdom after deciding to concentrate fully on industrial investments in Nigeria, a decision he described as central to his long-term business philosophy....