Africa’s richest man eyes dual listing as Dangote Cement targets global investors and massive expansion drive…..
Aliko Dangote is once again preparing to take Dangote Cement to the London Stock Exchange, reviving a long-delayed international listing plan that could mark one of the biggest African corporate listings in recent years.
The billionaire industrialist disclosed the renewed ambition during an interview with the Financial Times, revealing that his cement business currently valued at about $13 billion could soon pursue a dual listing in both Nigeria and London.
The move comes nearly eight years after Dangote first explored listing the company on the London market in 2018, a plan that eventually stalled amid regulatory hurdles and competing business priorities.
According to Dangote, recent reforms to the United Kingdom’s listing framework have now created a more favorable environment for the company to revisit the proposal.
“We want to do a dual listing. We have been thinking about it for seven to 10 years,” he said.
He explained that changes to UK listing regulations, particularly the reduction in minimum listing requirements, played a major role in reigniting discussions around the London flotation.
Industry observers say the proposed transaction could provide a significant boost to the London Stock Exchange at a time when the market has been seeking major international listings to strengthen investor activity and global competitiveness.
Reports indicate that around 10 percent of Dangote Cement shares may be offered to investors on the London market.
According to the Financial Times, advisers already linked to the proposed deal include major international financial institutions such as JP Morgan Chase, Citigroup, and Standard Bank.
The planned listing would further elevate Dangote Cement’s global profile as Africa’s largest cement producer and one of the continent’s most valuable listed companies.
Preparations for the international listing had actually begun years ago.
Back in 2018, the company appointed Cherie Blair wife of former British Prime Minister Tony Blair and former Xstrata chief executive Mick Davis as independent directors in anticipation of the London listing process.
However, the move was eventually delayed as Dangote shifted focus toward completing what would become one of Africa’s largest industrial projects: the multibillion-dollar Dangote Refinery in Nigeria.
According to the Financial Times, the refinery project, alongside stringent listing requirements at the time, contributed heavily to the suspension of the earlier plan.
The refinery, reportedly valued at about $20 billion, is now producing approximately 650,000 barrels of fuel daily and has become one of the most strategically important energy projects on the continent.
With the refinery now operational, Dangote appears ready to refocus attention on expanding the international footprint of his cement empire.
The businessman also unveiled ambitious production targets for Dangote Cement, saying the company plans to increase annual output capacity from 60 million tonnes to 100 million tonnes by 2030.
He disclosed that construction has already commenced on a new six-million-tonne cement plant in Nigeria, with another six-million-tonne facility expected to follow.
According to him, the additional production capacity will primarily support export operations as the company deepens its presence across international markets.
Analysts say a successful London listing could significantly improve Dangote Cement’s access to foreign capital, increase international investor participation, and strengthen the company’s position as a global African industrial brand.
Beyond business, Dangote also reflected on his long-discussed interest in purchasing English football club Arsenal FC, a dream he suggested may no longer be realistic.
The billionaire admitted that while he once seriously considered making a bid for the club, his attention shifted toward completing the refinery project, causing him to “miss the boat.”
For now, however, the focus appears firmly fixed on cement, expansion, and securing a long-awaited place for Dangote Cement on one of the world’s biggest financial markets.
