Dangote Cement is reportedly considering listing part of its cement business in London as the company seeks wider access to international capital markets to support its pan-African expansion strategy.
According to a report by the Financial Times, the proposed move would allow Africa’s largest cement producer to access deeper global capital pools and broaden its investor base beyond African markets.
Dangote Cement currently has an installed cement production capacity of around 55Mta across more than 10 African countries, including operations in Nigeria, Ethiopia, Senegal, Tanzania and Zambia. The company is estimated to have a market capitalisation of approximately US$10-11bn.
The report suggested that a London listing could improve the company’s valuation multiples by attracting institutional investors from Europe and North America, while strengthening access to long-term foreign capital.
The potential listing comes as the wider Dangote Group increases its engagement with international capital markets. In April, Dangote Fertiliser reportedly raised US$750m through a private bond placement, marking the conglomerate’s first major international debt market transaction.
Dangote Group CFO Murat Erden told Bloomberg that the group was also exploring additional bond issuances to support expansion across its energy, fertiliser and industrial businesses.
The company’s cement expansion strategy has increasingly focused on regional market growth and export development as infrastructure demand rises across Africa and domestic Nigerian cement capacity continues to exceed local demand.
