Dangote considers London listing for cement business to access global capital
via Punch Nigeria4 min read
Aliko Dangote, Africa鈥檚 richest man, is exploring a London listing for a portion of his cement business. This move aims to secure deeper access to global capital, attract institutional investors, and enhance the international profile of Dangote Cement Plc, Africa鈥檚 largest cement producer. The company, which has an installed capacity of approximately 55 million tonnes per annum across over 10 African countries, seeks to accelerate its pan-African expansion strategy. A London listing could attract more institutional investors from Europe and North America, potentially improving valuation and broadening its investor base. This initiative aligns with the Dangote Group's broader efforts to expand its presence in global capital markets, following its recent entry into international debt financing. The company鈥檚 market capitalization is estimated between $10 billion and $11 billion. The planned listing is expected to improve access to long-term foreign capital and attract investors who manage significant global assets but have limited exposure to African industrial companies. Experts suggest it could also improve the company鈥檚 valuation multiples compared to relying solely on emerging market exchanges with lower liquidity. This strategy supports Dangote鈥檚 ambition to transform his businesses into globally recognized industrial assets, capitalizing on Africa's rising demand for infrastructure and construction materials driven by urbanization, housing deficits, and population growth.
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