LAGOS, 11 May. - (ANA) - Africa’s richest man Aliko Dangote plans to list shares of his cement subsidiary in London, taking advantage of revised requirements by UK regulators who are pursuing more initial public offers by African companies, the Financial Times reported. About 10% per cent of the cement company’s shares would be sold in the process, Dangote told the outlet.

 

Dangote Cement is Africa’s largest cement producer. More than half of its output comes from plants in Nigeria but it operates in 10 other African countries, including Côte d’Ivoire, Ethiopia, and South Africa.

 

Dangote’s 650,000 barrel-a-day refinery in Lagos state — which he plans to list on multiple exchanges in Africa — has become the most high-profile business in his conglomerate as governments seek alternative suppliers of fuels amid the Iran war. 

 

But cement remains a strong performer in the group: The unit’s profit after tax rose 53.5% year-on-year in the first quarter of 2026, and its $13 billion capitalization on Nigeria’s stock market makes it one of the country’s most valuable companies.   - (ANA) -

 

AB/ANA/11 May 2026 - - -